As a manufacturer, there are new products you want to introduce into the retail market, and you find the airport retail industry quite suitable for these products.
Your product is market-ready, but how do you ensure that your product is suitable for airport gift shops?
Conducting research to determine if your product will sell is the first step that must be taken before introducing your product to stores. You need to ensure that there is a market for your product and if consumers will be interested in the product you wish to offer.
This process may involve fully understanding the consumer need your product will satisfy. This will help you determine the nature of consumers your product is likely to attract and if these categories of buyers belong to those who have access to airports. If they don’t have access to airports, you are looking at the wrong place.
You may also need to inquire if the airport setting provides an opportunity for your product brand to grow and expand. You must ensure you have access to marketing opportunities available in the airport location.
Here are 3 important tips that will help you determine if your product is a good fit for airport gift shops:
Market research: Before introducing a new product into a particular market, it is important to carry out sufficient market research. This will let you gain sufficient insight into the interested market.
This process may be time-consuming, but is very important in achieving a successful business because:
- It helps in understanding various trends shaping the market and how these trends influence the purchase of the product you wish to offer. This will let you plan how to adjust to these trends and use them in your favor.
- It helps to understand your competition by looking into their marketing strategies. It is advisable to avoid markets with too much competition because, without a solid strategy and unique selling point, possibilities of growth might be hindered.
Carry out product testing: Performing product testing is another important step that must not be ignored. This process helps to determine whether buyers are interested in your product. Product testing can be carried out by introducing samples of your product into selected stores to see how it is received by customers and the category of buyers that are more interested in your product.
This helps in determining your targeted audience and analyzing the growth capacity and possibilities available for your brand.
Consumer feedback: The main goal of every business is ensuring that customers’ needs are met, and customers are satisfied. It’s important to know what the customers think of your product.
These customers determine whether or not your products will sell. Understand how they think, know their demands. Ask customers questions about your product that will help your business grow. Obtain as much feedback as you can.