For a new product launch to be successful, a brand must plan the time to fail, according to Joe Farinella, vice president of research and development, Imbibe, who has 17 years’ experience developing new food and beverage products. In this podcast Farinella explains that the best product launch plans include extra time for product trials and a review of potential risks, and the time to address those issues if the risks become reality.
With Sandy Almendarez, editor in chief of INSIDER, Farinella talks product launch how to’s, including:
- Common pitfalls brands encounter when they are attempting to launch new products
- The benefits and risks of working with co-packers and ingredient suppliers to help with product launches
- A reasonable time line for launching a new product
Farinella will be speaking on the SupplySide West Panel Discussion, “Navigating the Business of the Nutraceutical Industry” on Thursday, September 28 at 9-11 a.m., in Las Vegas.