Now that the barrier to reaching consumers directly has dissolved, new brands are disrupting CPG categories daily.
Many founders develop their initial products based on personal experience or their own unmet need to get started. Will the product resonate with the target audience? Will customers vote with their wallet?
Breaking through the competitive landscape requires precision on the problem the product solves + a targeted niche audience. Developing value-added products that meet real unmet-needs is critical.
Incorporating customer feedback and user testing into each step of the product development process early opens the door to iterations before products hit the digital shelf and inventory is built!
As brands begin to scale and seek growth investment, a scalable and customer centric approach to product development and marketing are areas of critical business due diligence for investors – set the process early.
Developing a customer centric approach to product development is foundational to accelerating growth and maintaining competitive advantage!