HOW TO FIND MARKET FOR YOUR PRODUCT

Eddie Mugulusi, Founder at Fab Creations.

Step 1

Identify a problem. It’s always important to keep in mind that a good product is one that provides a solution to a problem or gap in the market. So identify a segment or group of people with an unmet need. Closely study their pains and frustrations then come up with a product or service that uniquely provides a solution.

Step 2

Profile those people/customers. It’s important to get a vivid understanding of your customers. For example, who & where are they, what’s their age range and what do they do for a living? What are their needs, interests, attitudes and buying habits? What are their pain points among other things? You’ve got learn, re-learn and keep learning. Know as much as you can about them. This will enable you develop the right product/service, position it the right way and market it the best way possible.

Step 3

Develop a prototype. Use all the information collected during the first 2 steps to develop the right product or craft the right service for your customers. Be creative while you are at it. Aim to ‘wow’ them by giving them something that truly solves their problem conveniently.

Step 4

Collect feedback. Take your protype to some of your customers and collect feedback from them. Listen attentively to their feedback. Don’t be stubborn. Let them do all the talking and simply ask questions to enable you learn as much as you can.

Step 5

Launch the product/service. At this point you should have a product or service that is relevant to your customers. You are not simply gambling in the market anymore. The people who have that need you identified in step 1 will be more than willing to pay for your product or service. Use the information in your customer profile in step 3 to position, distribute and market your product appropriately.

(In the picture: cartons of one of our products #ShakeEnkooge being loaded on a truck)

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