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How much does it cost to launch a product? from formulation to packaging, marketing?
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For me, the cost is not a lot. I am constantly exploring the market and experimenting with new products, so for me, formulation is not a “cost” as such, in terms of time.
Let’s take an example. I want to develop a new shampoo. First I identify the target market and I examine the market survey figures to determine the $$ size of the market and % of total shampoo market.Having identified the properties I want to put into the new shampoo, I design a preliminary formula, experiment with it for a while and then make a couple of Kg and test it on the product testers. So far my costs are < $50.Once I identify and refine the LOI and procedure, I’ll make a batch of say 5Kg, get 100 labels professionally printed, and test it on the Sunday market stall to see what public reaction is like. So, products can be developed and market-tested at quite low cost. -
Hey people!
I posted this ages ago! Since then, I have found a company based in the UK, thanks to this forum!
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Thank you so much for this thread! We are doing formulation work as a not-for-profit and I always have some clients that haggle over $1200 production of formulas and prototypes to which they have full ownership! Nice to have this perspective.
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