How to Make First-Mover Products Stand Out in a Saturated Market
by Morgan Peterson, Public Relations Intern
When entering an already saturated market, standing out from other brands is crucial. New trends, innovations and products pop up daily as our world continues to advance in technology and as consumer needs and expectations change. In fact, Forbes found that 30,000 new products are introduced to the market every year – that is a lot of competition! Ensuring that your innovative, one-of-a-kind product is marketed effectively is key to cutting through the noise and rising to the top of your industry.
So, how do you achieve this? Stay true to the goals and foundation of your business while also catering to the changing times and new needs of consumers. For example, when COVID-19 first hit and stay-at-home orders went into effect, no one was getting dressed up for work anymore. Immediately, there was a surge of interest in “athleisure” apparel, and almost every relevant brand reacted by producing some sort of variation of the product. In a saturated market like this, it is obvious that brands such as Nike and Adidas would be able to rise to the occasion; however, the demand for more comfortable athletic apparel made room for other brands to change with the times and get involved in the market for the first time. Long-time FWV client Wrangler introduced its All Terrain Gear™ (ATG™) X Wrangler outdoor apparel line with high-performance features, versatile designs and premium functionality to bring the outdoor lifestyle to all consumers. Louis Vuitton released comfortable athletic wear for the stay-at-home worker, while Kohl’s launched its own active apparel brand and Target debuted a new workout label.
Over the years, consumer behaviors have also evolved to focus more heavily on sustainable consumption, with many people purchasing exclusively from brands that have eco-friendly products and production methods, as well as fair labor practices. In line with this, FWV client Volvo Trucks North America has continued to keep sustainability at the forefront of its product offerings and brand values.
Volvo Trucks North America has been focused on sustainable transport solutions through its involvement with the Volvo LIGHTS (Low Impact Green Heavy Transport Solutions) project, a collaboration between 14 public and private partners that is pioneering the deployment of battery-electric trucks and equipment in the U.S. market at scale.
In December 2020, Volvo Trucks announced the commercial introduction of the Volvo VNR Electric model, further positioning the brand as one of the first major truck manufacturers in the U.S. to commercialize and sell battery-electric Class 8 trucks. With the launch of more and more heavy-duty electric truck models, it has started to become a crowded space. However, by focusing on key company values like quality, safety, driver comfort and satisfaction, Volvo Trucks has been able to stand out from its competitors. FWV has successfully leveraged these differentiators, as well as Volvo Trucks’ leading market position, in earned media outreach – resulting in coverage in top-tier national consumer media outlets like Forbes and Axios.
Pivoting with the times and adapting to the demands of consumers are of the upmost importance for brands looking to succeed as first movers in any industry. In an ever-changing consumer landscape, brands must know how to quickly recognize these shifts and constantly look for ways to innovate, and marketers must be able to effectively communicate what makes these innovations special while keeping in mind the brand’s core values.