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Ep #244 Test Before You Invest with Lara Fordis: Market Research Strategies to Inform Your Business Decisions
Manage episode 479753815 series 3345300
Market research can make a huge difference in your product offering and launch strategy, but bad data can be worse than no data at all according to my guest, Lara Fordis.
In this episode, Lara returns to discuss how market research has evolved in the CPG industry over the past four years, particularly with the emergence of AI tools that have made research both more accessible and potentially misleading. Lara shares insights on how entrepreneurs can properly validate their product ideas beyond the "echo chamber" of friends and family, highlighting the importance of getting feedback from representative target audiences who will actually pay for your product. We learn about the benefits of in-home use testing (IHUT), how to avoid common survey pitfalls like double-barreled questions, and why understanding your product's unique differentiation is crucial for success.
Whether you're launching a new food product or scaling your existing brand, this conversation provides valuable perspectives on gathering meaningful consumer insights that can save you from costly mistakes and help you develop a viable market proposition.
Find out more info about Lara's work and new course at http://fordisconsulting.com or email her at [email protected]
Stop the endless research and overwhelm! Know exactly what each sales channel looks like for success and create a roadmap for your unique business - it's all inside the Sales Channel Challenge https://www.foodbizsuccess.com/challenge
When you are ready to make the leap, get the support and accountability you need to create a beautiful business!
- Get Food Business Success to launch and scale to $100K guaranteed
- Scale your existing business to $300K in 2025 with the financial and operational foundations and become the CEO of your biz in Master Your Business
Pick up your copy of "Key Ingredients" on Amazon here.
Check out my YouTube channel at www.foodbiz.tube for how to videos to start and grow a packaged food business.
270 episodes
Manage episode 479753815 series 3345300
Market research can make a huge difference in your product offering and launch strategy, but bad data can be worse than no data at all according to my guest, Lara Fordis.
In this episode, Lara returns to discuss how market research has evolved in the CPG industry over the past four years, particularly with the emergence of AI tools that have made research both more accessible and potentially misleading. Lara shares insights on how entrepreneurs can properly validate their product ideas beyond the "echo chamber" of friends and family, highlighting the importance of getting feedback from representative target audiences who will actually pay for your product. We learn about the benefits of in-home use testing (IHUT), how to avoid common survey pitfalls like double-barreled questions, and why understanding your product's unique differentiation is crucial for success.
Whether you're launching a new food product or scaling your existing brand, this conversation provides valuable perspectives on gathering meaningful consumer insights that can save you from costly mistakes and help you develop a viable market proposition.
Find out more info about Lara's work and new course at http://fordisconsulting.com or email her at [email protected]
Stop the endless research and overwhelm! Know exactly what each sales channel looks like for success and create a roadmap for your unique business - it's all inside the Sales Channel Challenge https://www.foodbizsuccess.com/challenge
When you are ready to make the leap, get the support and accountability you need to create a beautiful business!
- Get Food Business Success to launch and scale to $100K guaranteed
- Scale your existing business to $300K in 2025 with the financial and operational foundations and become the CEO of your biz in Master Your Business
Pick up your copy of "Key Ingredients" on Amazon here.
Check out my YouTube channel at www.foodbiz.tube for how to videos to start and grow a packaged food business.
270 episodes
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