My favorite new item assessment question

September 27, 2016By Behind the Shelf Blog, Brand Marketing

by Dave Wendland

Countless times I’ve sat across the table from enthusiastic manufacturers eager to jump into the market with their latest whiz-bang product. I’ve listened politely as they described how the product was conceived and the rigors they have endured to find a production partner, design an initial prototype package concept, and plow through a horde of letters from consumers who have benefited from the revolutionary new item.

Then, I ask one question that quiets the room, “Is the product really market ready?”

Honestly, I never intend for that to be an off-putting question. Rather, I am genuinely interested in helping manufacturers chart a navigable course to success with the launch of their brand. Here’s a snapshot of key questions taken helping manufacturers chart a navigable course from HRG’s proprietary product launch methodology, Concept through Commercialization™.

What type of product launch are you embarking on?

  • Early-stage product
  • Existing brand
  • Expanding portfolio

Have you done enough homework in advance of your launch?

  • Market need
  • Competitive landscape
  • Consumer interest
  • Channel strategy

How will you drive interest in your brand?

  • Product packaging
  • Shelf placement
  • Product pricing strategy
  • Initial product trial
  • Promotional tactics

What are your plans to support the brand in the future?

  • Promotional strategies
  • Brand line extensions
  • Strategic partners/alliances

Careful preparation for launch and ensuring market readiness are essential to the success of any product introduction.