Product Development
The Challenge
A large American company was looking to branch out from their core competency into a new complimentary product offering, the problem was however they were unsure if this was a step too far with brand stretch, if their was a market available with their customers and were unsure where to start with suppliers.
Actions
I quickly pulled together a feasibility study of the major competitors of the market along with product, pricing & positioning and prepared a shortlist of suppliers as well as next steps including sampling and retail trial to firm up financials and forecasts.
Conclusions
The project turned into a bigger piece of work than I expected as I was also asked to support the inhouse team with proposals on packaging and final presentation to the sales team. The new launch was a major success and laid the groundwork for future product development ideas.
