Dream, Visualize and make it happen blog.

Apr3

Your Lucky Seven Questions To Launching Natural Food Products

Navigating through the incessantly changing waters of the highly competitive natural foods retail world is a dangerous business. You see, making a mistake along the way is almost a death sentence in these treacherous waters. However, you don’t have to have learn with hard experiences to win. Before you run out and possibly make the same mistakes as the fallen products before you, ask yourself some hard questions.
Presenting your lucky seven questions when launching a new natural food, beverage or non-toxic/natural cleaners.

1. Who is my target market?
Answer this question quickly because this is a question you will need to answer repeatedly and not only about store consumers but also about buyers, distributors and retailers.

2. How innovative does my product need to be?
Replicating a competitor’s efforts is not a viable path. This can only lead to frustration and money and time are always short. Temptation may be strong to lean in the direction of duplication, but what is most needed is innovation and new products in the marketplace.

3. What sets my product apart from the competition?
Perhaps it’s the taste, quality, safety, ingredients or environmental impact. If you don’t think you are standing out from competitors, then it is time to rethink strategy. If you don’t stand out, you won’t sell.

4. Does my product have a look that is similar to the competition?
This can and does happen. Inside supermarkets, when two products look similar, usually one must go. Now, obtaining merchandise variety is important to retailers but not mandatory, except perhaps in a hyper-specialty store focusing on few categories.

5. What’s the best price point for my category?
You must know your competition’s price points. Aggressive price points can be an instant sales killer. Sound elementary? To reiterate, this is where ego and good research can collide. You must humbly look at the competing products and their prices and ask if your price point is to be the same or lower.

6. Is my category growing or shrinking?
You would not want to arrive late to a party, only to discover the fun is over. I equate the same philosophy to a growing and shrinking categories. Categories expand and contract, this is commonplace- ebb and flow. Make sure your category is not over saturated and about to contract. The less saturated the category the more likely you can get shelf space. Maybe even a triple facing!

7. Is my product in demand?
When you are creating a product, you must ask why. Is it because you have a product that is lacking in the market? Launching a product can be likened to bringing a child into the world. But be careful of the emotional commitment. You must ask if there is a real demand for your product. Retail buyers are already inundated with thousands of new and established products. Is there room for one more? Or better yet, are you the new category?

The natural foods and supplement industry is important because it can change the way we eat, clean and consume for the better. Make sure you take the right steps to set you natural food products up for success!

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