How to spot a hit product
Learn how to develop a product that is sure to capture a niche market.
Aug 17, 2012 10:00 am
As a frequent traveler all over the country, Karin Carmona has always been fond of searching for interesting products not found in Metro Manila.
This habit led her into the business of bringing products from the provinces to the country’s capital. Thus, her venture -- Pieco Foods Inc., which is mainly known for distributing fruit juice concentrates, found another business direction.
“It is important that a businessman knows the market well. As a distributor, you have to know what the people will want or need from you or what they are looking for,” Carmona said.
In Davao, Carmona said she found a number of interesting products, including the cheeses of Olive Puentespina, better known as the Malagos Farms brand of cheeses.
Besides discovering the cheeses of Malagos Farms, Carmona also spotted a supplier of fruit-infused salsa that uses native fruits only and a supplier of dried fruits.
“One thing I like about the people in Mindanao is that they are very straight forward with their products and they are open to constructive criticisms,” Carmona said. “They have no qualms or hang ups about having to do some adjustments on their products.”
As well as the skill to run a business well, an entrepreneur, Carmona said, should develop the ability to spot products that have the potential to make it big. She also said that as a businesswoman whose venture is distributing products for a niche market, she had to find the perfect or the ideal taste for the specific market.