3 Steps to Introduce Your Food Product to the Market

Australia’s food market is a competitive one, with a market volume expected to hit $7.1 billion (AU$10,386,263,400) in four years. For many restaurant operators, it is exciting to launch a new product in a competitive market, but it’s important to keep a few things in mind. Careful planning, execution, and timing are relevant factors needed for this project. Here are some crucial steps to set you up for success if everything turns out well.

  1. Define the concept and market

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Who is your target market, and what is your product concept? It is vital to define what these are before jumping headlong into the world of food production for a ready market. Speaking of the latter, you will need to conduct thorough market research to gain valuable insight into market gaps not yet identified or utilised by your competitors. It will also be in your business’s interest to identify customer preferences and others in the competitive space vying for the same market.

It all boils down to knowing your audience and their needs and, more importantly, relying on that information for your food product’s development guidance. Aside from identifying the market, you should take steps to articulate your product concept. That is when you have the opportunity to communicate what makes your food product unique and what customers stand to gain from patronising your services. These unique selling points will serve as the foundation for your marketing strategy and product development. Major food businesses rely on focus groups and survey feedback before launching a new product. That can be your strategy when defining the concept and market.

  1. Position the business for successful sales

Every business needs strategic positioning and product promotion. This is when you will need a comprehensive sales enablement content strategy to sell your product. That cannot be done without equipping your sales team with the requisite tools and knowledge to propel your food business. You will need to conduct training sessions and leverage digital marketing channels to enhance your chances of making successful sales.

Even better, make it a personal mission to explore strategic partnerships with retailers and distributors that align with your target market. You will need mutual relationships in the business world to stay ahead in your line of business. However, the key tip is to stay adaptable and be responsive to consumer feedback for as long as your food product remains on the market.

  1. Meet all food safety standards and regulations

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The Australian Food Standards Authority (AFSA) has stringent regulations governing food production and its subsequent sale to the public. The slightest oversight here can result in sanctions and penalties for failing to adhere to or observe the rules. These measures are primarily to ensure the safety and well-being of consumers. You are, therefore, better off complying with all relevant food safety regulations and standards to get your product on the market as quickly as possible. By working closely with the relevant authorities, you have the opportunity to obtain the necessary permits needed before the launch.

The ASFA will explain labelling guidelines and provide guidance on how to implement strict quality control measures for production. It sounds like a lot to do, but these processes and procedures are the things you need to avoid running into problems with the law. Moreover, meeting these standards ensures legal compliance, builds trust among consumers, and establishes your business as a trusted brand. By prioritising safety and quality, your food business will earn a name for itself for putting consumers first.

Running a successful food business is worth all the processes it takes to get to the top.

About the author

Martin

Martin was born in England but now lives in Perth, Western Australia. He has a passion for breakfast, coffee, hot curries & fast food, and is a cat & Dalek person.

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