Summary
In this episode, Evan J. Cholfin interviews Teri-Ann Marchigiani, VP of Product Development at Tricoci, discussing the brand's expansion into consumer packaged goods (CPG) and the unique strategies employed in product development. Teri-Ann shares insights on the challenges faced in launching new products, the importance of brand awareness, and the role of influencer marketing. The conversation also covers the significance of storytelling in branding, current trends in the beauty industry, and the evolving relationship between salons and retail products. Looking ahead, Teri-Ann outlines objectives for 2025 and the importance of retail distribution for Tricoci's success.
Takeaways
Tricoci's expansion into CPG products was a strategic decision based on existing brand credibility.
The unique approach to product development leverages a network of professionals for real-time feedback.
Nutrire's launch was focused on authenticity and simplicity, resonating well with consumers.
Challenges in product launches include supply chain volatility and achieving brand awareness.
Data-driven strategies are essential for addressing brand awareness issues.
Influencer marketing plays a crucial role in educating consumers about new products.
Differentiated packaging and product positioning are key to standing out in the market.
Education in salons enhances product sales and consumer understanding.
The incubation process for new brands requires strategic positioning and consumer-centric innovation.
Storytelling is vital for simplifying the shopping experience and driving consumer interest.
Soundbites
"Our packaging is very differentiated."
"Education is like the biggest takeaway here."
Chapters
00:00 Introduction to Tricoci and Teri-Ann Marchigiani
03:13 Tricoci's Expansion into CPG Products
05:40 Unique Approach to Product Development
08:05 Challenges in Product Launches
10:37 Influencer Marketing Strategies
13:08 Differentiation in Product Offerings
15:27 The Incubation Process for New Brands
18:06 The Importance of Storytelling in Branding
20:57 Trends in Premium Beauty and Personal Care
23:18 The Evolving Relationship Between Salons and Retail
26:02 Looking Ahead: Success for 2025
Video
https://youtu.be/S-US5M7H6tA
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