Analysis: how to make sure that your products achieve Product Market Fit

Over 80% of all newly launched food businesses fail within 5 years.

Of these, 43% never achieve Product Market Fit, i.e they don’t solve a consumer problem, resulting in few sales.

Our Go To Market Plans identify problems and pitfalls before they become expensive mistakes and allow you to fine-tune or, if needed, pivot your business.

In our opinion, it is the single most important investment you should make when starting a food business.

What is a Go To Market Plan? Why do you need one?

A Go To Market Plan is a living document that makes sure that your business idea is actually viable and helps you beat the odds of potential, and expensive, failure. 

It starts with a consumer study

  • What’s the consumer conversation around your chosen category?
  • What are consumers looking for from products in that category?
  • What problems do they need solving?

The result? An understanding of what products and features consumers are actually looking for, giving you a blueprint for product development.

Next, we perform a deep dive into the market

  • What is the size of the market? 
  • Is it growing, shrinking or flat?
  • How has the market been affected by recent food trends and how does the future look like?
  • What are trends within the category, i.e low carbs, local, etc?

The result? An understanding of market size, market trends and where to take advantage of opportunities.

Competitive Analysis

  • What is your direct and indirect competiton? 
  • Where are they listed and at what price point?
  • What are their ingredients?
  • What are the category conventions for packaging and language on packaging?

The result? An understanding of the market allowing you to launch a product that stands apart at a price point that makes sense to both retailers and consumers.

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