Opportunities Open Up with Modified or Created Formulas
Many of the most financially successful product releases have come from the modification of existing products. Creating an entirely new product costs much more than refining an existing one. Take shampoo for example. It is one that can be experimented with because it is a low-cost product that is a low-risk investment. Additionally, shampoo brands rely on marketing professionals to help them stand out from a wall of similarly-priced products.
According to Forbes, “Beat The Odds: How to Successfully Create New Products”, “Much of the cost of developing new products lies in the creation and assembly, formulation, quality control, ingredient sourcing, allergen information, labeling, and compliance. A quality, formula-based solution for product development can accelerate this process, eliminate human error and reduce waste.”
At any age, men and women are interested in how a product will impact and improve their lives. Modifying products is a way that makes them more appealing to customers and new markets is a way to build your brand and extend your formulation. Marketing professionals also appeal to buyers’ environmental sensibilities by differentiating themselves through packaging. Is the packaging eco-friendly? Is it sleek in style with a modern appeal? Will it be tagged and shared on social media because they love your product? The lab experts at Maverick have curated tens of thousands of formulas taking an idea to end product or simply modifying an existing one.
How Maverick Packaging Can Help You Win with Formulation
At Maverick, we have the ability to offer you formulation solutions. Whether you have an existing formula or would like to develop something new, our fully staffed lab is at your disposal. We maintain a vast library of liquid formulas created with over 20 years of research and development. With state-of-the-art technology, our team can evaluate, develop and customize formulas to create the perfect solution for your needs.
Purchasing and operations professionals are able to forecast savings and supply chain efficiencies with our help. Our team is able to provide estimates for the higher volume filling applications, program implementation timing, and inventory management. Why? Because we handle the whole process: formulation, compounding, filling, labeling, packing.
Inevitably, there will reach a point in the program’s development that samples will be required. Our team and capabilities enable us to provide short-runs from personal care products to hair products. We offer competitive pricing over a wide range of volumes, ranging from hundreds to tens of millions.