Understanding which category to introduce a product in is where product development begins. Identify fast-growing categories gaining market share, or go after where the volume currently is. Once a category has been identified, dive deeper into segments to further narrow down where your new cannabis product should be introduced.
Finding gaps within categories where no product exists is a great way to capture market share. Introducing a product that fits within market, but has no direct competition is a unique way to stand out on store shelves and within online menus. Headset Insights enables you to find those gaps quickly.
There are many facets involved in understanding optimal package sizing for your new cannabis products. Knowing how consumers are purchasing based on package weight and dosing is critical for creating products that consumers want to buy. Gain further insight into CBD:THC ratios based on both pricing and demand to further gain an edge on the competition.
Having a competitive pricing strategy helps to ensure strong positioning for your newly introduced product. Headset has a variety of pricing and promotion tools to make sure you deliver a product at a target retail price that will resonate with consumers and a wholesale price that fits your retail customer budgets.
Understanding demand can help inform production runs required to meet market expectations. For new products, it also helps in the development of informed pro-formas, helping ensure sales projections are on target for your new launch.