Brands across categories, but particularly in the natural products industry are choosing charities with which to align themselves. In most cases this is an exercise in determining what the brand will stand for. The bigger the brand, the larger the charity and the more thought is given to this exercise as seen in the almost perfect launch last year of Clorox Greenworks brand.
I spent most of the last two days touring the exhibit hall at the Anaheim Convention Center, fighting crowds (an unusual occurrence these days) and marveling in how healthy the natural products industry still is. This is my second year at The Natural Products Expo West, one of the largest trade shows for the industry and it was, if possible even more crowded than last year.
For those of you who don’t read the LA Times, here’s a green products article you’ll want to catch. Today they featured a detailed story about green chemistry–the companies developing green body care, house cleaning and home building materials and the challenges they face. And, oh ya, also about the multi-millions in revenues they are earning and consumers learn more and care more about what goes into the bodies of their families.
Watching the news and reading the popular press you’d think that the interest in organic products is so high that simply making your idea for a new product a reality ensures success. Not so fast.
One of the biggest fallacies in popular folklore is:
“Make a better mousetrap and the world will beat a path to your door.”
In reality, over 90% of businesses fail within the first five years, even the ones with really great ideas. Good execution beats originality any day. And good execution requires good solid market information.
With organic products so hot many a natural product manufacturer or organic food processor has found initial success came easy. As the field matures however, competitors enter the market and bigger retailers show interest in the product. Both require a fledgling company to be prepared with data and selling points.
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