My partner and I have been discussing how to move forward with a product launch and I wanted get your opinions on what you believe the best approach would be. We are working within the vitamin and supplement industry and we are well aware the industry is pretty saturated. One of our supplements whoever would be very niche.
We are considering the follow options.
Launching with one supplement. This approach works since it's more cost effective and focused. However, we would be limiting our product line reach initially and we may not seehuge sales. we feel that focusing will allow us to develop brand recognition and loyatly. For example, not initially focusing on a multivitamin but instead say launch with an omega three supplement for example.
Launching multiple products. More upfront cost. Wider reach. More competition. More noise. The pro is wed be able to offer what your nearest competitor is already doing.
While the most popular products would be where one would think to focus, there may be opportunity to focus on something a bit different initially. We just aren't sure if we should hyper focus to start off with .