In this episode of the Duct Tape Marketing Podcast, I interview Dr. James Richardson. He is the founder of Premium Growth Solutions, a strategic planning consultancy for early-stage consumer packaged goods brands. He is the author of Ramping Your Brand: How to Ride the Killer CPG Growth Curve. He also hosts his podcast—Startup Confidential and routinely appears in trade magazines serving the CPG industry.
Dr. James Richardson has helped nearly 100 CPG brands with their strategic planning. In this episode, Dr. Richardson outlines his approach to thinking smarter about growth as a consumer packaged goods entrepreneur. He shares some of the core concepts from his book that is based on years of anthropological research — Ramping Your Brand — and talks about how and why consumers pay for premium-priced CPG items.
Questions I ask Dr. James Richardson:
- [1:41] What would you say are the significant critical distinctions between considering a CPG brand versus marketing a service?
- [2:38] How do you convince somebody that this is something you’ve never had before and you’re going to love it?
- [4:29] Do you have to make a connection with a product or service that people already have? For example, when someone comes up with a new lawn mowing service – it could be described as Uber, but for lawnmowers.
- [6:21] Are you saying that you shouldn’t even try to define your product in comparison to another and instead get it out there and you might find that there are unintended pathways that open up?
- [8:29] How often do you think a new product creation happens because somebody is just trying to scratch an itch they have personally?
- [10:58] You use the skate ramps metaphor quite a few times in the book — can you talk about how you use it and why?
- [13:52] So how big, how important of a role does design play in consumer packaged goods?
- [16:07] If you want your brand to be seen as cool, does it have to be seen in certain places? How important is this role?
- [17:11] There are a lot of brands today that are direct to consumer – how has distribution changed?
- [20:10] You have a number of case studies — what’s been your biggest hit or any great case study you’d like to share?
- [25:00] Where can people find out more about your work?
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