A launch hold is a status indicating a marketing campaign cannot go live until one or more specific blockers — a pricing mismatch, a broken tracking tag, a missing approval — are resolved. It’s the marketing equivalent of a failed build in software engineering: a clear, explicit signal that something isn’t ready, rather than an ambiguous "probably fine."
A launch hold names the specific blocker and who needs to act on it, rather than simply preventing the launch without explanation. The goal is to make "not ready" as clear and actionable as "ready," instead of leaving it to someone to notice a problem after the fact.