Product renovation
As margins become tighter in FMCG, it makes sense to look at your core range of products and understand if products can be redesigned to maximise value. There may be aspects that are over-engineered and could be refined without alienating consumers.
We work with consumers to understand what aspects of products they enjoy and value. We then identify areas for PD Teams where margins can be improved without trading consumers’ enjoyment.
We work with consumers to understand what aspects of products they enjoy and value. We then identify areas for PD Teams where margins can be improved without trading consumers’ enjoyment.
Product optimisation
Product optimisation is the process of undertaking extensive research into how your customers perceive and feel about your current products. We can then use those findings to refine and optimise products to boost sales and market share.
Optimising existing products has several benefits over starting from scratch and launching a brand-new product. Firstly, it doesn’t alienate and annoy your existing customers who do love your product as it currently is. Instead, you can keep the best parts of your existing product and refine the areas where an improvement will boost sales.
Second, optimising a current product gives you the ability to expand your target customer base to bring in new buyers that will benefit from your product. Even small changes to your branding and product packaging can make your product relevant to an entirely new group of buyers.
Finally, optimising your product gives you the ability to reignite your brand in the market without having to build an entirely new one. When done right, a product relaunch will excite consumers and can even bring back previous buyers who have drifted away from your brand.
Optimising existing products has several benefits over starting from scratch and launching a brand-new product. Firstly, it doesn’t alienate and annoy your existing customers who do love your product as it currently is. Instead, you can keep the best parts of your existing product and refine the areas where an improvement will boost sales.
Second, optimising a current product gives you the ability to expand your target customer base to bring in new buyers that will benefit from your product. Even small changes to your branding and product packaging can make your product relevant to an entirely new group of buyers.
Finally, optimising your product gives you the ability to reignite your brand in the market without having to build an entirely new one. When done right, a product relaunch will excite consumers and can even bring back previous buyers who have drifted away from your brand.
New product development optimisation
Depending on your existing range of products, it can sometimes make more sense to start from scratch and develop an entirely new product to bring to market. As product development specialists, we can help streamline the development process so you avoid costly mistakes. We engage with your target audience to identify ideas and products that have potential, and how we can make them bigger and more successful. We take traditional techniques and apply neuroscience and motivational research, to pinpoint the opportunities that will drive business growth.
Learn more about our New Product Development process here.
Learn more about our New Product Development process here.
To optimise your existing product line…