Fordings offers strategic solutions across the product supply chain. We strive to couple these solutions to ensure maximum repeat business.
Statistics show that 75% of all new products fail. The main reasons being: lack of attention to customer demand, no market analysis, lessons-learned from failed products, branding and changing market trends. In addition, many companies fail to understand the cultural differences when exporting their products abroad, which have a major influence on mid- and long term success.
Fordings is not a pure consulting company. We offer both product consultation coupled with sales strategies and direct sales with the aim of ensuring not only the successful development of a product, but repeat business for your products and services as well. In our cooperation, we take on your products and visions as our own, which binds us to your company ensuring greater success. The biggest aim behind Fordings is long term cooperation, based on practice and not paperwork.
Fordings offers the following solutions:
Consumer Group Analysis: We examine the intended consumer group from age, income, interests, and spending patterns.
Competition Analysis: Who are the main competitors? What is their business model? How do they supply their goods? What pricing strategies have they used? Who are their target audiences? What is their product placement strategy? How do they brand their products?
Lessons Learned: Who is successful and why? Which products have failed and why?
Applying lessons learned from failed attempts into our marketing strategy is essential to achieve sustainable business.
Some of the best brands are created through a deep understanding of the demographics of target audiences, what their interests are, and how they communicate. Understanding the target audience provides critical direction for the tone and reach of a marketing campaign. It also shapes the overall identity of a brand, while helping to create a natural connection between a business and its consumer.
We strive to find a language that is unique and appeals to current market trends, aesthetics, and demands. Trying to reach everybody can be counterproductive as the brand may lose its identity among the array of competition products. Our aim is to portray products with passion and continuity which is the essence for a sustainable market presence.
Branding includes: optimizing your corporate identity, logo, web presence, packaging and product placement strategies incl. online and offline marketing and events etc.
It is important to test your products before launch. We execute market studies with our partners to get a true feeling of how consumers react to the product branding and pricing strategies. These field tests are vital to ensure a solid launch and reaffirm product placement strategies.
Pricing is one of the most critical elements of all products. If a product enters the market at too low a price, it is extremely difficult to raise costs without losing reputation. If the price is too high, repeat business could be jeopardized if it does not meet consumer expectations. By analyzing the target audience and existing products while balancing the USPs of your product, we are able to find a strategy that can be altered accordingly without the risk of losing credibility.
Creating the right time for a market launch is also essential. We take thorough steps to analyse the market demands, seasonality of certain products to ensure that your product is noticed upon its arrival. This is achieved by strategic discussions with the platforms chosen to sell your products, i.e. retailers, wholesalers or service companies.
It is important before any product launch to ensure that all essential issues have been covered in respect to costs, benefits, processes and risks.
Alongside the market analysis, sales and pricing strategies, we evaluate our customers’ processes to ensure that no risks or unnecessary legal issues can arise along the lifecycle management in the areas of patents. We research a wide range of issues to maintain healthy processes: brand names, product patents, geographic legal issues concerning product certification and acceptance, production, reclamations, service, assembly, project management and internal processes (especially with products that need to be installed on customer locations or where the processes are carried out by partners).
Confirming strong and transparent fields of liability, along with developing measures beforehand minimizes any risk that may be caused by executing watertight processes beforehand.
Does it make sense to roll out a product in all country regions? Or it is better to save time and resources by placing the product into regions or selective channels where the product will experience higher success ratings. These issues are important to evaluate when developing sales and product launch strategies.
Launch Management Strategy
Fordings works closely with our customers to develop and implement a professional product placement strategy. Whether it be event management, strategically coordinating online and offline marketing tools, or promotions, we strive to create a successful product launch.
Sales and Sales Strategy
Branding and marketing alone are not the only keys to success, the sales pitch and strategic customer meetings are vital to ensure sustainable success and repeat business.
Fordings employs seasoned sales professionals and works together with a network of experienced sales agents, specialized in different markets. Our goal is to ensure that the sales professionals are trained and coached on the product USPs and storyline behind the product in order to help push the product into the different market channels.
The sales strategy is based on short-, mid- and long term goals and is constantly reviewed and adapted to correspond to the market demands and needs of the customers.
The product lifecycle does not end when goods are successfully launched and first business is achieved. We offer you a sustainability management program which is key to long term success.
The sales progress is monitored closely. We see it as our business to hold strategic discussions with the customer base in order to observe changing market trends and consumer behavior. We offer a POM (product optimization management) process with the aim of keeping costs in the change management process at a minimum and optimize the knowledge management with our sales force so that they are kept up to date with any changes made.
Market segments in which we operate