Car Wash - Summer 2016 - (Page 36)

& TIPS AND BEST PRACTICES FOR A SUCCESSFUL NEW PRODUCT LAUNCH BY K AT HLEEN SA F I THE MARKET IS crowded and competitive. How can you be sure that your product has the highest possible chance of success? "Start with a hunch, start with your gut, start with your feeling, and then quantify that with research," says Adam von Gootkin, author of Living Proof: Onyx Moonshine's Journey to Revive the American Spirit and co-founder of Onyx Spirits Company, LLC. GET TO KNOW YOUR COMPETITORS Knowing the products you are competing against will help you identify the value that your product brings, customers you can pitch to, starting price points and potential distributors. An internet search is a helpful starting place, but don't stop there. "Get your hands dirty, roll your sleeves up and dig in on research. Read industry reports; look at every product that's on the market," von Gootkin said. When starting Onyx Spirits Company, von Gootkin hit the pavement. "We scoured the market. We tasted spirits from all around the world. We looked 36 CAR WASH MAGAZINE | WWW.CARWASH.ORG | at labels. We talked to a lot of people. We went out into the trade and we talked to liquor store owners, restaurant owners, bartenders, wait staff, we talked to consumers." Makenzie Marzluff, founder of Delighted By Hummus, the Original Dessert Hummus™ had a unique challenge when it came to identifying her competitors. To liken dessert hummus, an innovative and unexpected twist on the popular savory spread, to the standard fare is like comparing apples to oranges. "I knew I was launching something that didn't really exist yet... I thought my competitors were the other hummus companies. I went in every store I walked by and went directly to the hummus section." But sometimes when your product is unique, you need to think outside of the box to identify your true market. Because her product was so different than what was on the shelves, Marzluff had to dig deeper to find her product's niche. "What is the psychology of our customers? What are they really replacing us with? It's vegan ice cream and vegan cookies, other processed desserts on the market." SUMMER 2016 http://WWW.CARWASH.ORG

Table of Contents for the Digital Edition of Car Wash - Summer 2016

Letter from the ICA
By the Numbers
Overheard Online
Along for the Ride
Employee Training Is Critical to Success
New & Improved
Funding Your Big Idea
Be Prepared to Stop
Study This!
The Car Wash Show 2016
Future Leaders
ICA Unveils New Strategic Plan
Take a Tour
Wash Ideas
Blast from the Past
Download It!
Marketing Minute
Top Tweets
Ask Champ
Advertiser Index
5 Things

Car Wash - Summer 2016