How to Develop a New Product

Posted by HBCinc under Startups
From http://www.thenewbusinessidea.com 4804 days ago

If you have an idea for a product or service to sell, you might be wondering, "How do I bring this product to market?". In order to create your new product and get into the hands of your customers, you will need to go through the product development process.

When you are first getting started, you want to analyze the needs of your target market to see if there is a demand for the item you are offering. Use a SWOT Analysis, which covers potential stengths, weaknesses, opportunities and threats that you may encounter. Review the Patent Databases to make sure your product idea does not already exist...

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Comments

Written by businessavante
4805 days ago

I didn't see any reference at all to marketing your new product idea. The greatest product ever invented will flop w/o a very well-conceived & highly focused marketing strategy - an idea that should be realized even before the product is drawn on anything other than a napkin.

Duncan

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