As reported in Forbes, one emerging trend is that consumers are increasingly demanding transparency when it comes to the ingredients in products. This involves actively seeking out better quality ingredients, and has resulted in the introduction of a variety of naturally sourced, nutrient-rich products that are not heavily fortified and thus have shorter shelf lives.
These include fresh unprocessed juices, cookies without preservatives, and a variety of dairy substitutes made from ingredients ranging from rice to almonds. It also includes food and beverages with functional ingredients such as probiotics as well as protein and collagen.
The transition to these types of shorter shelf life products has not been seamless. Delivering fresh plant-based products with natural ingredients at scale requires a major shift in the supply chain infrastructure. Fortunately, with technology driven strategies in place, a “just-in-time” distribution and delivery ethos can be adapted to the mass consumer markets.
1. Pinpoint the target population. Determine the characteristics of the target market depending on demographics, spending patterns, and preferences.
2. Investigate the target population’s spending preferences. The company should now gather data on how much would the target population be willing to spend on the product.
3. Study consumption trends. The company should then research the history of the niche it is trying to conquer, as well as the ongoing trends.
4. Scope projections. At this point, the company needs to define the geographic area on which it will focus.
5. Research the competition. If there are similar products on the market, the company should research their history and implement its findings to the sales and marketing strategies.
6. The final assessment of the product. This assessment includes an in-depth look into its strengths and weaknesses.
Talal Johany is a successful real estate entrepreneur with a longtime interest in advertising and marketing strategy. He has researched innovators in the field such as Leo Burnett, who created popular and enduring campaigns built on ads featuring the Jolly Green Giant and the Marlboro Man. Talal Johany also follows more recent ad campaigns that have achieved success in generating corporate sales and brand recognition.