LONDON--(BUSINESS WIRE)--Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on new product development strategy. The client, a cosmetics company, based out of Central Europe, wanted to focus into developing vegan cosmetics products. To do so, they needed help in identifying the right suppliers, understanding the FDA’s regulations, devising marketing plans, and creating an e-commerce store. They chose to partner with Infiniti Research to leverage their expertise in offering new product development strategy. By partnering with Infiniti Research, the client also wanted to efficiently communicate with their target customers and understand customer satisfaction regarding their products and services.
You can read the full story on how Infiniti’s new product development strategy helped the client overcome these challenges here.
Our Integrated Approach: To help the client tackle the above-mentioned challenges and support them in their new vegan cosmetics product development needs, the experts at Infiniti Research used a combination of new product research, customer intelligence, SWOT analysis, and market intelligence study. The engagement also involved examining vegan cosmetics market trends and generating potential product ideas.
With consumers becoming more conscious of the choices they make while purchasing cosmetics products, cosmetics brands will need to focus on innovating product offerings and reaching to the right set of customers. Our market intelligence solutions can help you to achieve these strategic objectives. RFP for more insights.
Business impact of the new product development strategy for the cosmetics company:
- Gained understanding of the FDA’s regulations
- Identified the right suppliers to provide them with quality raw materials
- Developed vegan liquid mineral foundations by experimenting with new ingredients
- Evaluated customer satisfaction level regarding their products
- Created an e-commerce store and promoted their new products online
- Achieved huge commercial success for its new product
- Increased sales by 31% in two years
- Devised a sound marketing plan
You may also like to read some of our recent product development strategy success stories:
- New Product Development Strategy: How We Helped a Leading CPG Company to Develop New Products for Connecting with Millennial Consumers
- Identifying Market Innovations and Industry Developments for a Pet Food Manufacturing Market Client by Performing Market Assessment Study
- A Medical Implants Supplier Gained 11% Market Share in Its New Product Category with Market Assessment Study
Want to know how our services can help companies in the vegan cosmetics market strategize their business functions? Request more info and our experts will get in touch with you with comprehensive insights.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us