Planning from the early stages of a new agricultural innovation is essential to understand and extract the maximum potential of a new product idea. From the beginning, it’s important to shift from a product/idea-centric mindset and widen the scope to look at the potential End-to-End (E2E) business. Then you can integrate the final objective from scoping and guide each stage of development to extract the maximum potential and reach the market in the fastest and most efficient way.
Market and Business Development Questions
Questions such as which market and what business model must be considered from the beginning to align the product development and regulatory strategy with the market development and, ultimately, with the business objective.
The AgriThority® Prescriptive Response services flow through a disciplined development process answering key questions in an order that clarifies pathways forward. This leads to better management of risk and resources. Development is as much about process as it is about science.
Understand Farmer Needs
An important driver is to understand the needs of farmers when targeting a market. Many segments are saturated with products claiming few differentiations from each other. Looking for farmer needs and contrasting them with the characteristics or potential benefits of the product can direct the development toward value for the farmer.
Aligning the early stages of scoping and development can make a product reach the market with the necessary characteristics to differentiate itself and not be just another “Me Too” product. As an example, an operational or convenience benefit can become a differentiation beyond standard parameters such as effectiveness. A product that lowers the necessary dose per application might achieve significant savings in logistics management (refilling of tanks in applications, etc.) and in the disposal of containers, which becomes a solution in large operations and makes a new development the preferred choice over similar products.
The End-to-End Approach
This E2E approach leads to integrating product development with business and market development. They are not independent, but flow together toward successful commercialization.
The planning of the regulatory strategy, the development of the product in the target market, and timing for implementing the go-to-market strategy are all essential to maximize the potential of the business and achieve the most efficient and rapid introduction.
However, choosing a path today does not mean giving up alternative market opportunities. A “portfolio” approach is ideal, first focusing on those with the greatest chance of success and from there moving on to new opportunities. All of this is best done in a disciplined process.
Other aspects that would condition the development of a product and must be considered within the stages of business and market development are related to scalability. Understanding the market, competitors, channels, farmers’ practices, prices, costs and types of formulations are a few of the development process considerations. Integrating all aspects including scalability forms a product that can be commercially competitive, while developing other capabilities to exploit the full potential of the product across multiple markets.
When your Research is ready for Development, turn to AgriThority® for international product, business and market expertise. As an independent science and business resource, we focus on exploring potential, expanding market access, and evolving production for greater food security and sustainability.