Giant Brands Crowdfund To Market Test

The big consumer product brands are co-opting crowdfunding in order to test new products.

Gillette dropped its heated razor on Indiegogo, wanting to “think outside the usual shaving experience” (whatever that means?).

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The reason is not to raise money, Procter & Gamble has enough cash, but to test consumer demand, especially consumers who are on the crowdfunding site known for cutting edge (no pun intended) products. It turns out that the razors, priced at a discounted (!) $109 plus $5/per blade, flew out the door, convincing the marketing gurus at P&G that they had a winner.

Other consumer product giants, like Coca Cola and Lego are test marketing on those platforms as well.

(No endorsement implied).

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https://www.marketingweek.com/2019/02/13/coca-cola-lego-gillette-crowdfunding/?ct_5c6406b988103=5c6406b9881c0