Andy is on the money… there is no standard industry norm as it varies by category and also ultimately what uniqueness your brand brings as a solution to the consumer and the retail customer your partnering with. My rule of thumb is aligned to Andy’s last point… always always work back from your end ‘consumer why’ and what would they pay and also likely pay in the future too as your brand grows and the dynamics you initially bring ie. unique value consumer benefit etc change over time with the category.
So work backwards from the cost of getting your brand in your consumers hand! plan for the worse but execute for the best outcome and be prepared for surprises!
One last piece is I always layout my plans based on; again working backwards
Brand – Pack – Price – Channel – Occassion
– This helps me think about what is the occasion the consumer is buying my product for?
– Am I in the right channel (best customer type to sell thru) to deliver and get it into their hands?
– What’s the price they would pay based on shopping in this channel? Also good to see how you compare to other choices they have?
– Finally how does the pack format deliver in meeting their occasion and also align to the channel requirements to connect consumers to it and ultimately bring your brand to life in the best way to tell connect your WHY with your consumer!
As you work through different scenarios it also helps your finalise your pricing and go to market strategy!
So to Andy’s point always work backwards from your consumer! Look forward to seeing what you come up with!