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from Leo Beese<\/p>\n
[\/et_pb_text][et_pb_image src=”https:\/\/leobeese.com\/wp-content\/uploads\/2022\/01\/Phasen-Produktentwicklung.jpg” alt=”3 stages of product development” title_text=”stages of product development” _builder_version=”4.16″ _module_preset=”default” custom_padding=”0px|||||” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.16″ _module_preset=”default” text_line_height=”1.8em” global_colors_info=”{}”]<\/p>\n
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Did you know that every year 80 percent of all new FMCG products (consumer goods such as food, cosmetics and cleaning products) fail on the German market?<\/p>\n
In Germany, companies waste about 10 billion euros every year in this way.<\/p>\n
This is also due to the fact that companies and start-ups fail to do their homework in product development.<\/p>\n
The ideas for new products are implemented far too quickly and naively.<\/p>\n
To prevent the same thing from happening to you, I’ll show you how you can develop a successful product with a plan and brainpower.<\/p>\n
The success rate of new products would certainly be much higher if companies took a little more time and approached product development with a plan.<\/p>\n
To prevent your product from becoming one of the pitiful 80 percent of failed products, it is advisable to divide the product development process into three phases.<\/p>\n
The temptation to skip unloved tasks is great. Who wouldn’t like to have a great product idea today and hold the first product samples in their hands tomorrow?<\/p>\n
That way, you could start selling the new products next week and be filthy rich almost immediately. And all that without having to worry about the target group, positioning or the market.<\/p>\n
Sounds stupid, doesn’t it? But in most companies and for many founders, it’s the standard rather than the exception.<\/p>\n
A good product starts with an idea and then matures in the testing phase to become a real must-have for the target group.<\/p>\n
<\/p>\n
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The idea phase begins with the stimulus for your idea. The impulse can be, for example, a market niche that you have found.<\/p>\n
The idea phase ends with an initial concept. This first concept describes your product idea as precisely as possible.<\/p>\n
The big question to ask at the beginning is: What potential does the idea have? Can you earn real money with the product or will it be more of an expensive hobby?<\/p>\n
But to be able to check this in the next steps, we need a basis.<\/p>\n
In the first concept, the product idea is described as precisely as possible. The product is given a name and you work out what characteristics it should have. What could it look like and what should the packaging be like?<\/p>\n
Will it be part of an existing brand or will it be launched under a new brand?<\/p>\n
Do you have an idea as to where you want to sell the product and what the price should be?<\/p>\n
The more specific you get now, the better.<\/p>\n
If you think now about the features, appearance and packaging that the product should be known for, it will be much easier for you to identify similarities and differences in the competing products later in the market analysis.<\/p>\n
And these differences become the unique selling points (USP) that are crucial for a successful product.<\/p>\n
In the first concept you can freely write out how you envision the new product. Now is not the time for restrictions and “it doesn’t work like that”.<\/p>\n
Once the first concept is written, the idea phase is successfully completed.<\/p>\n
Here, in the second stage, it’s about checking the first concept and polishing it like a rough diamond until it’s a real eye-catcher.<\/p>\n
For this, you need to look at the market and set up a market analysis. The target group for the product must be defined, because only then can the positioning really strike at the core of your customers.<\/p>\n
In the market analysis, we want to discover which products already exist on the market and which companies and brands are active in the product category.<\/p>\n
What do the products look like, what is the package content and at what price are they offered?<\/p>\n
What are the unique selling points of the competing products?<\/p>\n
If you can answer these questions based on the market analysis, you will know much more precisely where your product stands in comparison to the competitive market.<\/a><\/p>\n A look at the market enables you to draw many conclusions regarding the needs of your target group.<\/p>\n By looking at the pricing in the product category, you can see what your customers are prepared to pay. Moreover, the visual appearance and the USP of the competitive products are probably not chosen at random.<\/p>\n Look at competitors’ social media channels and websites to see how they address the target group.<\/p>\n Compare your “first concept” with the market. Are your USPs really unique? Are the asking price and package size realistic?<\/p>\n These market and target group insights will help you a lot with your positioning and the “final concept”.<\/p>\n Why do we spot certain brands and products and immediately think to ourselves: “Wow, that’s cool, I definitely gotta have that!” And then we spend a lot of money to obtain them and look forward every time to using them.<\/p>\n How do they succeed in casting such a spell on us?<\/p>\n These brands and products arouse emotions in us, their target group, and make it easy for us to identify with them.<\/p>\n By their positioning, they have struck the right chord in us.<\/p>\n In addition to the emotional aspect, it is also essential that your product offers added value for the target group. A real added value makes your target group buy again and again – soon they won’t do without your product any more.<\/p>\n Why should you dedicate so much time to your positioning?<\/p>\n As I have just described: If you can make people really want your brand because they can be part of a bigger story – like in school when everyone wanted to be in the cool gang but not everyone got in – your competitors will become irrelevant.<\/p>\n Without distinctive, emotionally charged positioning, people will keep “shopping” and comparing what your competitors have on offer or what price per 100 grams they call up. He who gives more for less money is the winner.<\/p>\n Charge your brand and your products with personal character to make them unmistakable. Because this character is their copy protection. The personal character of your brand and products is the one thing that your competitors can’t imitate.<\/p>\n<\/span>Polish your product idea like a diamond<\/span><\/h3>\n
<\/span>Target group and positioning<\/span><\/h3>\n
<\/span>They aim at our heart<\/span><\/h5>\n