Here's how you can navigate changes in consumer preferences and demands as a professional in Product R&D.

Want to stand out as New Product Development professional? After you consume the market research, engage with your target consumer social media or attend an industry event flip the script. Go narrow & deep with 1 consumer. Leverage your contacts to talk to one of their contacts you don't know. Buy them a coffee or lunch and talk to them about their habits and practices. Literally get to "know your consumer" ... When I did this, I learned insights about her product experience and how to communicate to her that improved the product AND created compelling copy for the advertising campaign.

In the biostimulants industry, companies often use Agile methodology to develop new products. For example, a company might release a new biostimulant in small batches to farmers, gathering feedback on its effectiveness and impact on crops. This feedback allows the company to quickly make adjustments and improvements, ensuring that the final product meets the needs of the market and performs well in different agricultural conditions. This iterative process helps the company stay competitive and responsive to the evolving needs of farmers and the agricultural industry.

Study after study shows the team that works on "the 1 perfect product" ALWAYS loses to the team that is tasked to "make as many product in the allotted time." Iterations are the key - you are the first user of your New Product Development (NPD). As you iterate your NPD, you learn nuances about the experience, the manufacturing, the benefits & the short comings. I call this going slow to create better, faster & cheaper and in 30 years of CPG experience, it's never failed me.

In the biostimulant industry, teamwork is crucial for staying in tune with consumer needs. By bringing together marketing, sales, customer service, and science teams, companies can get a well-rounded view of what consumers want. This collaborative approach sparks innovation and ensures that every angle of consumer preferences is covered in product development. Plus, it helps speed up the process from concept to market, which is vital when consumer demands change quickly.

I'm a huge fan of "Data-Driven Decisions." And, the one caveat to this is make sure you balance large base quantitative data with qualitative data. A deep dive interview with your target consumer, your retail buyer, & a consumer who does NOT like your design - all of that is also "data" that will bring new insights to fuel nuanced decisions on your product improvement.

In the biostimulant industry, continuous learning is vital. By attending workshops, taking online courses, and staying updated with industry trends, professionals stay ahead in R&D and consumer insights. This ongoing commitment ensures product development remains innovative and responsive to market changes.

Here are a few more things to consider: 1. Ensure your products meet local and international regulations to avoid legal issues. 2. Emphasize environmentally friendly practices to appeal to eco-conscious consumers. 3. Implement rigorous testing to maintain product efficacy and safety standards.