Things to Consider When Creating a New Product

Julie Starr • May 4, 2024

If you're thinking about creating a new product for your business there's a lot you need to keep at the forefront of your thoughts. When you have a new idea it can be exciting and you want to jump right in and test whether or not it will bring in some much-needed capital into your business. 


However, before you forge your head you need to put some brakes on your ideas. This is because you're going to need to go through a few steps to make sure that you are not wasting your time. Here's a look at the things you should do when you want to create a new product. 


Do Market Research

Market research is the first thing you're going to need to do. No matter how great the idea you may have, if there is no demand for it then you're wasting your time and your business capital. 


You want to do market research to see whether people will be willing to buy your product. Once you have validated that there are customers for it you can move on to the next step. 


Unique Selling Proposition

In the next stage of the entire process, you're going to look at the unique selling propositions of your product. How is it different from what is already out there? Why should someone buy it as opposed to another product?


 You have to make sure that you have some kind of innovative features that are superior in quality that will catch your customers' eyes and get them to reach into their wallets.


Product Design and Development

The next thing you're going to do is to make sure that you put a design and developmental system in place. This is the only way that you're going to end up with a high-quality product to put on the market. 


You may have to get other people to assist you or select the employees that are skilled to help create the product. If you have to do the creation of a product that requires a lab, you can use lab facilities that are
located in your area. 


 In some cases, you might have to get manufacturing help from outside of the country but with all the communication technology available this should be a breeze.


Do a Cost Analysis

You're going to need to do a cost analysis of the product that you are creating. You don't want to have to empty your company's piggy bank to create a product. 


You need to make sure that you are going to make enough of a profit based on what you will be spending to actually create the product in the first place. 


You don't want to shoot yourself in the foot. It's up to you to make sure that you're going to get back every penny that you are spending and then some. The type of products that you are creating should create a sense of excitement in your existing customer base. 


You do a survey and find out if excitement is bubbling up in them to see a new product. This can gauge how successful it will be.

By Julie Starr March 31, 2025
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By Julie Starr March 24, 2025
At Taiga Company, we work alongside brands who are not only doing the hard work of sustainability—but are learning how to talk about it in ways that connect with their stakeholders. This World Water Day , we’re reflecting on how leading beverage companies are advancing bold water stewardship goals and communicating those efforts clearly, thoughtfully, and strategically across digital platforms. Water is foundational to the beverage industry. From ingredient sourcing to packaging to community health, it’s a resource that demands attention—not just in terms of conservation, but in terms of how that commitment is shared with consumers, investors, regulators, and partners. Below, we’re highlighting three beverage companies whose recent water stewardship actions—and storytelling—stood out. PepsiCo: From Field to Community, Global Water Replenishment in Action PepsiCo launched 16 new water replenishment projects across nine countries in 2024 alone, restoring more than 1.7 billion liters of water to local ecosystems. These projects are practical and people-centered—ranging from irrigation efficiency in Texas to sustainable farming practices in the Dominican Republic. What stood out: clear project data, human-focused storytelling, and alignment with global frameworks. PepsiCo’s water webpage provides easy access to targets, progress updates, and case studies, helping stakeholders understand both the “why” and the “how.” Suntory Global Spirits: Water at the Heart of the Brand Suntory’s brands—from Maker’s Mark in Kentucky to Yamazaki in Japan—share a common origin: water. The company’s commitment to being net water positive by 2050 isn’t just a corporate goal—it’s integrated into brand storytelling, on-site conservation efforts, and supplier engagement. Their message is rooted in authenticity: water isn’t just an operational input, it’s an essential ingredient in their identity. Learn more on Suntory’s efforts via their LinkedIn post . Asahi Group Holdings: Building Local Water Resilience Together In the Netherlands, Asahi’s Koninklijke Grolsch partnered with stakeholders in the Twente region to develop a local water platform focused on reducing consumption and innovating wastewater reuse. This goes beyond operational efficiency—it’s about building water resilience within a shared ecosystem. Their community-first framing and long-term investment approach were key themes in this post . Why This Matters At Taiga Company, we believe that sustainability actions only go as far as their ability to be understood, felt, and trusted. Communicating water stewardship isn’t just about reporting metrics or sharing photos of wetlands (although both can help). It’s about giving stakeholders the context they need to see a company’s values in motion—clear commitments, thoughtful execution, and measurable impact.  If your team is evolving its water strategy—or simply looking for better ways to communicate what you're already doing—we’d love to be part of that conversation.
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