How to develop a product | The Bespoke Advantage
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HOW TO DEVELOP A PRODUCT

Do you have a great idea, but you are not sure how to develop a product?

The global natural and organic beauty market was worth US$11.5 billion in 2018. It is forecast to grow more than double this figure by 2025, reaching an estimated US$23.6 billion by the close of 2025, growing at a CAGR of 9.4% between 2019-2025.

It’s exciting to see new entrepreneurs entering this space, with some great innovations in mind, in the UK, and internationally. Entrepreneurs, starting out from the very beginning with a launch of one or two products, to well-established companies likes spas, salons, and retailers are identifying opportunities to grow their business through launching new brands.

One of the most important steps to take, before developing a new product or brand, it to create a clear strategy. Building a brand takes time and requires an investment – you need to carefully consider what products you are going to create, and how you are going to sell your products and what marketing you need to do.

There are a few elementary ingredients that go into building a beauty brand – from packaging, to formulations, developing a strong marketing strategy, social media, content strategy, PR and sales. Having a great product that delivers upon its promise is of little consequence if you haven’t budgeted to invest money in growing your brand.

If this all sounds a bit daunting and you don’t know where to begin, we can help you with this. We have developed products across categories for start-ups and well-established business, working with leading chemists, packaging companies, graphic designers across Europe, US, and Asia.

You may decide to outsource this to us, or we can work alongside you, training and developing your team along the way. We apply a structured process to every brand we create that walks you through what you need to do from ‘concept to launch’ and through our agency, consultancy services and workshops, we will show you how to do this too. Get in touch today.

How to develop a product image, mixing scents to create a perfume.