The failure rate for product launches into consumer goods categories has been consistently reported at more than 70% and, in most cases, that failure occurs within the first two years. That’s why preparation for entry into markets is so important.
Whether a brand is an entirely new entrant, or an existing player seeking to significantly reframe its offer, getting a comprehensive pitch right for consumers, retail customers or investors is critical.
With competition for space on physical and digital shelves so intense, brands must be able to tell a compelling, rigorously evidenced story about what role they will play, value they will bring and growth they will drive.
But measuring and optimising your marketing activities against the short and longer-term sales outcomes they produce is also critical if your business is to succeed. ‘If you can’t measure it, you can’t manage (or grow) it’.