Market research can make a huge difference in your product offering and launch strategy, but bad data can be worse than no data at all according to my guest, Lara Fordis.
In this episode, Lara returns to discuss how market research has evolved in the CPG industry over the past four years, particularly with the emergence of AI tools that have made research both more accessible and potentially misleading. Lara shares insights on how entrepreneurs can properly validate their product ideas beyond the "echo chamber" of friends and family, highlighting the importance of getting feedback from representative target audiences who will actually pay for your product. We learn about the benefits of in-home use testing (IHUT), how to avoid common survey pitfalls like double-barreled questions, and why understanding your product's unique differentiation is crucial for success.
Whether you're launching a new food product or scaling your existing brand, this conversation provides valuable perspectives on gathering meaningful consumer insights that can save you from costly mistakes and help you develop a viable market proposition.
Find out more info about Lara's work and new course at http://fordisconsulting.com or email her at lara@fordisconsulting.com
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