Now that you’ve launched your product, the real battle begins in store, where 60% of consumers make their purchase decisions. No wonder your competition wants the shelf placement you’ve worked so hard to gain.
Get the insights you need to support your business growth. The CPG Manufacturer’s Success Guide: 5 Common Challenges After Launching Your Product & How to Overcome Them looks at how to increase your product’s staying power and expand precious shelf space.
Learn from four Nielsen CPG industry experts with decades of experience working with hundreds of retail buyers, from Fortune 500 companies to small regional chains. They identify five common challenges many CPG manufacturers face after launching a product and recommend solutions-focused approaches to solve them:
Challenge #1: Attaining a high turn rate
After your product launches, you have three to six months to build critical product awareness that will carry your momentum. Your goal is to move units quickly for a high sell-through. Our guide shares three marketing strategies to overcome this common challenge.
Challenge #2: Transitioning from product launch to operationalization
The transition from prototyping to mass production can sometimes lead to shortages. Nielsen experts offer three time-tested ways to avoid going out of stock, which typically leads to brand replacement and, ultimately, delisting.
Challenge #3: Competing against yourself
If your product is stocked in stores that are close to each other or cater to identical demographics, you may experience a sales decline in some of those locations. Avoid competing against yourself by properly evaluating each retailer and developing strategies that will best meet their needs.
Challenge #4: Poorly executed plans
Many products underperform not because of poor quality, but because of poorly executed marketing and distribution plans. When you download our guide, you’ll learn how to better prepare and keep your plans on track.
Challenge #5: Product delisting
If your product is delisted, the odds are against you to find success a second time around. But delisting doesn’t have to spell the end of your product. Our guide also shares three strategies for an effective comeback.
Gaining shelf space for your product is an important milestone, but it’s only the beginning. The path toward sustained success and growth has its challenges. Being able to adapt to market changes quickly improves your chances of success. To find out how, download The CPG Manufacturer’s Success Guide: 5 Common Challenges After Launching Your Product & How to Overcome Them.