How to be Successful in Creating & Selling Consumer Goods

Kreg Bale
Kreg Bale March 1, 2022
Updated 2022/03/01 at 8:56 PM
How to be Successful in Creating & Selling Consumer Goods

Developing and selling a consumer product can be a daunting task. There is a low track record for successfully launching a new product and passing the five-year mark. You have to convince consumers to buy your products through a carefully-thought marketing plan. Here is how to be successful in creating and selling consumer goods.

Meet Consumers Needs

Before creating a product, it’s crucial that you do consumer research to identify the consumer’s needs. This ensures that your product will have a genuine consumer interest, and people will be more willing to buy it. The consumer needs can be dormant, waiting for innovation to bring them to life. You can target consumer needs that no other manufacturer is trying to meet. You can use surveys, personal interviews, focus groups and observation to do your homework on consumer needs.

Strong Product Economics

It’s crucial that you consider the product economics, including the percentage of sales required to win customers. Other things to consider include the cost of delivering the product and all the hidden costs involved. The margins should be appropriate to ensure the success of the product. You should also have effective product distribution channels so that your goods reach the customers. The effectiveness distribution channel should be consistent with the quality of your product. It’s important that the channels also represent the product well.

Consumers are generally looking for products that offer value for their money. A highly-priced product might not be successful even if it fulfills the needs of the consumers. Consumer research helps you develop a product whose price is proportional to the need it fulfills.

Analyze the Competition

Stiff competition can push your products out of the market, so it’s crucial you analyze your competitors carefully. You can borrow a few ideas from your competitors to compete with them. Your timing of the product should also be perfect. You do not want to introduce your product too early in an underdeveloped market. Improving on existing products being offered by your competitors can give you an edge.

Product Value

For your product to succeed in the market, it must add significant value to the consumer. Your product can solve an existing problem or a new user need. Consumers may not be willing to buy a product that doesn’t meet quality standards. You can test the product with a select group of consumers to get feedback before launching it. A product that satisfies consumers’ needs will likely sell for a long time.

Your product can deliver value in productivity, efficiency, comfort, or convenience. There should also be a significant number of users who are facing the problem that you are trying to solve and are willing to pay for the solution. This ensures that you have a broad market for your product. For example, laser die cutting offers core value in efficiency and cost-effectiveness.

The Right Messaging

Even with a great product, you need to communicate the right message to the consumers to ensure they understand how the product meets their needs. Your users need to relate to the product messaging and be convinced that the product is solving their problem. If your target consumers cannot connect with your message, you will find it hard to penetrate the market.

Your marketing campaign should focus on the product’s meaningful benefit to the users. It should also aim to motivate the consumer to buy your specific product and not from other producers. Once you have the right message, you need to communicate it effectively to reach the target consumers. The frequency and reach to your consumers are both crucial to inspire confidence in your product.

Adequate Funding

You need sufficient funding to finance your product from inception to distribution. Your product may take longer and need more funding than you had expected, and thus you need to make an appropriate estimate. You can enlist stakeholders to acquire enough resources to create and sustain your product.


These ideas can help you launch a successful product and make profits. Meeting your consumers’ needs by providing sustainable products can earn you the trust and loyalty of your consumers. You also need to be patient and give your product time to grow and become successful.

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