How To Choose Your Product To Launch

You have an idea and you have a target audience. You are planning to start a new product range. How do you formulate this task?

Ideation of your food or beverage products is a design thinking process.

Wee see in most of the food entrepreneurs the product design is mainly in line with their diet or what they like to consume most. Yes, we all want to enjoy consuming what we produce and bring to the market, but is it feasible for your company?

In whatever product are you are in, your business is sales and marketing of your products. Market insights is what you need to look at first. Does your product range have specific marketing claims? Who is your target consumer. What is the demographic? What are their priorities? How do they spend their money? Is there any restriction from food regulations for your ingredients? Where will you sell your products?

Let’s go over a basic check list and make your new product range answer all requirements.

Basic Check List To Ideate

  • Who is my customer and what is the demographic data?
  • How do they choose products for my specific area? Does their preference depend on price, health, environment, peer suggestions, diet?
  • Where do they buy those products? How will your products differentiate?
  • What would be your packaging claims to target your consumers?

Market and Competition

Who are your competitors. If you believe your product will be the first one on the market, think again. This is usually not true, unless you have a patented product. Is entry to the market easy or difficult? Even if the market is empty for the time being, there will be more products similar to yours on the market soon.

Check your competitors. How do they position their products? What are their claims? Try to find their sales data. Check out all of their social media and web site. Check out also their marketplace ratings.

Future of Your New Product Range

Where do you plan to sell your products? Is there a chance that you can make a collaboration and open a new market? What would be the markets you would be selling to? Are you ready for their regulations?

Ideate from the start

If you would like to talk to us about your ideation process, you can always email or call us. We want to make sure your new products are ready for your markets.