Bringing your natural health product or idea can look like a daunting task at first. Don’t worry though we’re here to help you every step of the way.
Once you have chosen your product(s), defining the needs of your target market is an important next step. This helps you to better understand their motivations and the reasons for their goals. Knowing and understanding this is what will set you apart from the competition, those who can better understand their market will resonate with them better and be more effective in the target market’s recall for brands and increase their likelihood of purchase.
Here are a few of the questions that you should ask yourself:
Now that you have a better understanding of who your customers are, it’s time to learn more about your competitors. Start by identifying both your direct and indirect competitors. Indirect competitors being those whose product has similar benefits as yours but achieves it in a different way, they can be seen as a substitute to your product. And direct competitors being those who have a similar product to yours. Identifying both sets of competitors allows you to better analyze the market and where you would fall in it and how you can better address needs that others are not meeting.
E.g. For example, take a customer who is looking to satisfy their hunger specifically with pizza. You are a local pizza chain. Your indirect competitors would be grocery stores that offer ingredients such as pre-made pizza dough, and your direct competitors would be other pizza chains.
Use charts like the one on the right to identify where there is a need in the market after conducting your competitor research. This will help you to map out which areas are highly saturated and where there is a need in the market. You can use the same type of chart for all sorts of aspects of your product.
Finding the right manufacturer is a crucial next step. You want to make sure that the manufacturer you choose to make your products, understands your needs and is there to help you achieve your goals.
If you are new to the industry, you want a company that understands what it takes to bring a product to market from the very start and has the experience of doing so. Make sure to consider:
- The quality of their products
- Ability to meet deadlines
- Their range of services
- Do they provide different dosage types? (capsules, tablets, powders, liquids)
- Are they able to help you formulate your product? Can they help with research and development?
- Can they help with packaging and distribution?
Next, you should consider how you are going to gain customers. This step encompasses all that you have done in the steps above. By knowing your customers and the competition you now know where there is an opportunity for you and how to best reach and resonate with that market. Some of the most effective ways to reach your target market have been listed below.
All of the information above can be a lot to process but don’t worry, we’re here to help. If you have any questions reach out to us through the link below or email us at email@example.com.
As a Vancouver-based Boutique Sports Nutrition and Nutraceutical Product Manufacturing company, our promise to you is to provide exceptional customer service in helping you bring your concept to market every step of the way. With the ability of our in-house experts, our global supply partners, and our GMP compliant facility we can cater to your every need to make sure you are set up for success.
Visit us at
© 2021 All Rights Reserved