What do you do if your new food product isn't gaining traction in the market?

Identify the reasons why the product is not resonating with consumers. This could be due to factors like pricing, taste, packaging, or lack of awareness. Conduct focus groups, surveys, or taste tests to gather insights into consumer preferences and perceptions.

In my experience, understanding the market is crucial for product success. For instance, I launched a new beverage that struggled initially. Despite positive feedback on taste and packaging, sales were low. After analyzing sales data and conducting surveys, I discovered the issue wasn’t the product but its visibility. It was lost among competitors on store shelves. To address this, I focused on two key areas: distribution and promotion. I negotiated better shelf placements and increased promotional efforts, highlighting the product’s unique features. As a result, the product gained traction, illustrating the importance of not just the product itself but also how it’s presented and sold.

Refine your food product based on customer feedback. Consider adjusting the flavor, packaging, pricing, or positioning to better align with consumer expectations.

Understand why. You can create hypotheses to test. Just don't make assumptions and fall into the easiest and most palatable answer trap, e.g. price. You will not learn a thing for next time.

Innovation is key in product development. When my team faced a similar challenge with a snack product, we realized the issue was not the quality but the market perception. We conducted a sensory analysis and found that while the taste was excellent, the texture was not meeting expectations. We decided to modify the recipe to improve the texture, and also updated the packaging to highlight this change. We then launched a targeted marketing campaign focusing on the new and improved experience. Sales improved significantly, demonstrating the importance of aligning product attributes with customer expectations and effectively communicating those improvements. Remember, a good product must be both high-quality and well-marketed.

Learning from competitors is essential. In my analysis of the tech market, I found that while my product had superior features, it was not as user-friendly as others. This was a blind spot in our strategy. We conducted a SWOT analysis and realized we needed to simplify our interface. By focusing on user experience, we not only retained our existing customers but also attracted new ones who were looking for an easy-to-use product. This experience taught me that sometimes, less is more.

Start by identifying your direct and indirect competitors in the market. Analyze their product offerings, pricing strategies, marketing tactics, distribution channels, customer reviews, and overall market positioning. Perform a SWOT Analysis. Evaluate the strengths, weaknesses, opportunities, and threats posed by your competitors. Understanding their strengths can boost changes or improvements to your own product while recognizing their weaknesses can highlight areas where your product can excel. Lastly, compare your product features, quality, and pricing with those of your competitors. Identifying areas where your product outperforms or underperforms in comparison can inform adjustments to your product positioning and pricing strategy.

Reach out to your customers through various channels such as social media, email, your website, in-person interactions, and customer service platforms to connect with them wherever they spend their time. This will help you to stay in touch with your customers and build long-lasting relationships. Make your customers feel special by using their name and recommending products based on what they've bought before. By personalizing your messages and content, you can create a more meaningful connection with your customers. Actively seek feedback from your customers through surveys, reviews, and social media comments. Use this information to improve your products or services and show your customers that you value their opinions.

Les réunions de co-construction et autres évènements avec vos clients peuvent être un bon moyen de capitaliser sur leurs besoins et leurs recommandations sur un temps très court. En effet, ces moments de réflexion avec vos clients peuvent vous permettre de recueillir leurs avis mais également de leurs proposer des alternatives et de voir directement leurs avis sans attendre. C'est également un moment de partage qui peut renforcer votre relation client. Vous allez construire des relations de confiance entre eux et vos produits. Ils seront ensuite votre meilleur canal de communication avec de futurs clients.

Evaluating a product's market performance is crucial. For instance, when I launched an educational app, I used metrics like user engagement and feedback for assessment. Despite good download numbers, the feedback indicated a need for more interactive content. By incorporating this, user retention improved. It's essential to use such insights for continuous product enhancement and to celebrate milestones as motivation for further innovation.

Just wrap it in Saran Wrap and store it in the fridge drawer. Later, just throw it away when it gets moldy. Done and done.