Archive | Bringing Your Product to Market

Bringing Your Product to Market Chapter 4 Appendix

15 Steps To Bring Your Product To Market Don Debelak http://www.dondebelak.net/index.php?page=15_Steps_to_Bring_Your_Product_to_Market Step 1: Idea Conception Many people come up with ideas in different ways but all that is important is that you have a new product idea that you are excited about and you want to see what you can do with it. Step 2: [...]

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Bringing Your Product to Market 4.10. Manufacturers

Bringing Your Product to Market 4.10. Manufacturers

4.10. Manufacturers In addition to licensing, you can also outsource manufacturing. In an outsource relationship, you retain full rights over your product or intellectual property and market it yourself or outsource the marketing. You engage a manufacturer to make the product for you at an agreed-on fee. You benefit from enjoying a larger slice of [...]

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Bringing Your Product to Market 4.9. Licensing

Bringing Your Product to Market 4.9. Licensing

4.9. Licensing When you license your product, you’re essentially “selling” it to another company. They then have the right to manufacture, market, and sell the product. In return, they pay you a flat fee (rarely) or a percentage of every sale they make, called royalties. But why would you want to sell your product? You [...]

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Bringing Your Product to Market 4.8. Roll Out

Bringing Your Product to Market 4.8. Roll Out

4.8. Roll Out Your final step involves actually rolling out the product. Here you have two options, which are not mutually exclusive: You can license the product or business idea to another company and collect royalties. You can manage your own company and either do the manufacturing and marketing yourself, or outsource these functions. Section [...]

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Bringing Your Product to Market 4.7. Implementation

Bringing Your Product to Market 4.7. Implementation

4.7. Implementation Implementation is where you figure out how to actually get a whole bunch of products out there for people to buy. If you are outsourcing the manufacture or licensing the product to a manufacturer, you don’t have much to worry about. The outsourcing entrepreneur has to find a manufacturer, some way to ship [...]

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Bringing Your Product to Market 4.6. Prototyping and Beta Testing

Bringing Your Product to Market 4.6. Prototyping and Beta Testing

4.6. Prototyping and Beta Testing By the time you actually begin considering building your product, you’ve accomplished quite a lot. You’ve created the idea, screened it, developed it into a concept, tested the concept, and performed some very good business planning by setting the price, forecasting your sales, estimating your costs, and determining your breakeven. [...]

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Bringing Your Product to Market 4.5. Business Analysis

Bringing Your Product to Market 4.5. Business Analysis

4.5. Business Analysis In the business analysis or business plan phase, you work out the business projections for your product concept: Estimated price―based on what consumers have told you and what the likely response from your competitors might be, you set a price that will maximize profits. That is, you have to determine a price [...]

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Bringing Your Product to Market 4.4. Concepting and Testing

Bringing Your Product to Market 4.4. Concepting and Testing

4.4. Concepting and Testing In the concepting phase, you convert your idea to a full description. In this phase, you define all your product attributes, features, parts, size, weight, price, packaging, distribution channels, and promotions―as much as you can flesh out about what your end product actually will be and what it will look like [...]

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Bringing Your Product to Market 4.3. Idea Screening

Bringing Your Product to Market 4.3. Idea Screening

4.3. Idea Screening Idea screening is a process, formal or informal, through which you evaluate a product or service idea to determine if it’s worth the time and money to develop further. Idea screening answers two basic questions: Is this product feasible? Is this service doable? Will I make a profit? The whole point of [...]

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Bringing Your Product to Market 4.2. Idea Generation

Bringing Your Product to Market 4.2. Idea Generation

4.2 Idea Generation Corporations have formal processes and departments for generating ideas. A huge number of people are often involved: R&D, marketing, and even consumers. Because they have all these resources, corporations develop product ideas at a pretty rapid clip―but most of them never get out of the idea stage! You, on the other hand, [...]

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Bringing Your Product to Market 4.0

Bringing Your Product to Market 4.0

Customers see products and services; they don’t really see much else about your business. You worry your head about the entire business, so you pay attention to marketing, branding, operations, and profit. But your customer only really cares about the thing you make or the thing you do. And when they look at your product [...]

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