Doing your homework on your brand competitors and brand inspirations is a key part of the product development process. As brand owners you have to study what already exists in the market and what consumers are already used to. Not only does it help you figure out what textures, scents, aesthetics, clinicals, and packaging you’re inspired by, but it also tells you whats missing in the marketplace. This is your opportunity to innovate in the spaces that have been untouched. When you come to your product development and R&D team with references to commercial products you feel drawn to, there’s less guessing and fewer revisions during PD. Start your benchmarking process with my FREE benchmark sheet. Take it to your favorite retailer and write down what exists in your category, what you like, and what you think your brand could do better.
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