Are you a small or mid-size consumer product goods (CPG) manufacturer looking to enter a new market? If so, the first step is to fully understand the category you’re about to enter. This ensures you know what kind of opportunity there is for your product, increasing the likelihood your market entry strategy will be successful.
Here is a simple three-step approach to help you better understand the “size of the prize”:
- Know your category
- Develop a plan
- Understand the retail landscape you’ll be selling into
Assessing the size of the market can seem challenging, but it doesn’t have to be. With these three simple steps, you can ensure the process runs as smoothly as possible. Watch our video to learn how to conduct CPG market sizing.