The idea might indeed be the most important part of seeing a product’s success in the market. A good idea connects with the target market and using it as the crux of all decisions in developing the product means you don’t bog down a product and dilute its real value. But an idea is just a thought. To make a product material (and profitable) you need a good deal more than that.
Product development is not a simple process. If you’ve never done it before, you can easily get caught in the tangle of phases from prototyping to refinement to quality assurance. A plan on the different phases and the order in which you tackle them can be essential. More info from Mind Flow Design shows just what’s involved. Industry expertise from product developers can help ensure that your vision isn’t lost in the mire of minutia.
Nothing a business does should be done in a vacuum. That’s how you lose touch with the realities of the market and what your customers actually want. That’s doubly true of products. When you have a prototype, show it off. Take it to trade shows, invite influencers in the industry to try it. They can help you see any issues your potential customers might face from a perspective you haven’t yet considered. What barriers exist between your product and its user base? Are there any unnecessary additions getting in the way? Has it lost sight of its original goal? Feedback can help you figure that out.
Once the design is finalized, you have to be careful about how you find your manufacturers. Small Biz Trends has some examples of resources you can use to find them. Look for those that have worked in your industry before and collect as much information as you can about the ones that get your interest. Reviews, testimonials, even asking people in your industry about their reputation. Poor manufacturing processes can ramp up your ROI dramatically.
If you’re not selling it directly yourself, you’re going to need some retailers. This means coming up with a product pitch, figuring out which are most likely to appeal to the audience you want, and putting on your best smile. This is where your skills in salesmanship are going to get tested, so make sure you bring only the best product ambassadors.
A launch plan
You can have the best designed, made, and readily available product. If it doesn’t have the attention of the market, it’s not going to do very well. Develop a launch plan, building buzz through the prototypes, the influencers you give a look in, trade shows, social media, and more. A big launch event, with said influencers, industry mainstays, press members and more can be just the bang you need to make when you’ve built that buzz adequately.
There are a lot of wheels that need to be spinning in the right place to see a product successfully to the market. Underestimate the importance of any of these wheels and they’ll come off.