Product strategy for health products like supplements requires extensive knowledge of consumer trends, marketing, consumer behavior, food science, regulatory requirements and technical and scientific affairs.
NaturPro Scientific combines expertise in a wide array of product types and disciplines, offering clients a way to maximize chances for consumer product success in the market.
Product Strategy – Cores of Discipline
A product may be determined as safe and effective, and also legal and kosher — but still not be positioned for success. For example, it may be undifferentiated in a crowded market, or not provide a meaningful benefit that is valued by the consumer. A great product may find itself swimming in infested waters filled with competitors.
Our in-depth analysis and advisory process helps to guide our clients in the right direction.
Some main considerations for any supplement product design consultants includes the following:
- Target Health Category(s) and subcategories, including potential niche markets
- Market Opportunity Analysis
- Market Size & Market Leaders
- Key Competitor Analysis
- Pricing Sensitivity
- Consumer Preference Analysis, including consumner surveys and focus groups
- Key Product Benefit
- Regulatory Review
- Customer Demographics
- Differentiation, Positioning and Competitive Analysis
- Innovation Strategy
- SWOT Analaysis
- Marketing and Distribution Channel Analysis