The development of a new health and wellness or pharmaceutical product is a process that if undertaken without the proper planning, budgeting and a highly efficient and qualified team, can have high chances of failure with the product either never making it to market or failing after launch.
For the majority of the larger brands, their ownership companies are marketing machines, geared towards sales, distribution and marketing. In the modern era of corporate business, having your team double down on their strengths is becoming essential for success in a highly competitive landscape.
With this in mind, why would a company choose to outsource and partner with a contract manufacturer to develop a new product? We have outlined below the top reasons why we at Tismor, provide partnerships to some of the worlds largest health and wellness/pharmaceutical brands to develop new products together.
1 – YOUR Success becomes OUR success and OUR Team becomes YOUR Team
The success of any Contract Manufacturing company is strongly connected to the success of their customers. At Tismor, we foster relationships with select customers who we know share our partnership spirit, our desire to exceed industry standards and develop exceptional productus. We embrace the partnership joint venture journey and share both our team with your team and in the success of your product successfully going to market.
2 – WE can be YOUR Quality Assurance and regulatory team
Quality assurance is a key pillar of success within Contract Manufacturing deliverables. As stated above, most brands ownership companies are geared towards marketing and sales, however regulatory compliance in the health and wellness/pharmaceutical industry is a critical component of product development. Our ability to provide support in this area of developing your new product is a value we pride ourselves on as a key pillar of success to ensure we deliver a product that is of the highest quality, regulatory approved and ready for success at launch.
3 – Commitment and accountability to YOU the customer
As with any partnership, trust and accountability are standards that allow both parties to move forward with large investments of time and money. At Tismor, we pride ourselves that OUR word is OUR bond and our commitment will be evident to you from the first handshake that we are in the business of managing relationships. We are only successful when your product is successful on the market and we do not enter any relationship without being fully committed to both the customer and the end product.
4 – We can engineer bespoke manufacturing practices for YOUR needs
Your ideas for a new products packaging might be innovative in function and appearance, but have you considered the manufacturing implications such a design might have on machinery, timeline and staff numbers? At Tismor, our in house engineering team specializes in customizing machinery and our production lines to meet time sensitive deadlines on new product launches. Often overlooked, the ability to be innovative in packaging and efficient in logistics for a products final stage of development and launch can make or break a brands speed to market, market hype at launch and ultimately the customers bottom line.
5 – YOUR bottom line
To summarise many Contract Manufacturers will have strengths that can lend themselves to the new product development partnership of your companies IP. However, we suggest your research into these potential partners are thorough and endeavour to find the right match for your company’s culture, belief systems and values. Entering into the right partnership to develop a new product with a contract manufacturer will see your investment deliver returns in many areas of sales, growth and brand awareness. Choosing a partner that is not the right fit for your company can lead to losses financially and damage to your brands reputation on the market.
At Tismor, we select our partnerships meticulously to ensure that we can deliver on OUR values and strengths so that they can become YOUR success.