Today, everyone wants to be an entrepreneur and introduce their products to the world. However, what most people don’t know is that starting a business and keeping it running takes more than passion and commitment. It entails learning the market and being unique in the plan. Sanjiv Mehra and his partners used the information they had gathered from dealing with consumer products to begin the EOS Lip Balm, a product that has given the bigwigs a run for their money.
In an interview, Mehra admits that at the beginning, their main focus was to come up with a product that would be accepted by their Target market. Not necessarily disclosing their information about the company was a way to show focus on the main thing, which was the product. After which, the company realized the buzz that came with the millennial. The target market is inclined to their celebrities, therefore, by having the likes of Kim Kardashian and Miley Cyrus endorse them, and the company was assured of major sales.
Mehra adds that learning the target market is one of the steps to succeed especially in a saturated market. Despite having big players, focusing on the target market can give a company subtle and fine details about their comfort and needs. This makes it possible for a company to focus on the small details that the rivals overlook.
Additionally, coming up with a product should not be the end game. Most of these big companies are always looking to innovate and create more designs and improve ion the product. EOS lip balm (evolutionofsmooth.ca) had to undergo various changes in order to keep the consumers interested. Most consumers want to buy a product that keeps improving. This shows that they are always keen and ready to solve consumers’ problems and to satisfy their needs. https://www.amazon.com/Organic-Smooth-Strawberry-Passion-Honeydew/dp/B009QTDYYA