Published On: Mon, Jul 11th, 2016

How Do Businesses Develop Products?

When you are in charge of a business, there is a lot that you need to consider at all times. In the early days in particular, there is plenty that you should be taking on board. If you are the owner of your own business, then you probably already know what we’re talking about here. One of the most important procedures early on in the process of having a business is developing your first product. This is an important part of your business journey for many reasons. One of the most important reasons is that this product will be the public’s first example of what your business is capable of. It therefore makes perfect sense that you want to get it as right as possible. With that in mind, we have put together this post on developing a product. Here, you will find an easy-to-follow, step-by-step process for product development. Follow this, and you will end up with a successful completed product on your hands. And that’s when the real work of developing your business can begin.

how to sell the product

Research

The first step when you are developing any product is to research the market. In an ideal world, you will be able to find a problem for which nobody has yet offered a solution, and offer one. These are the products which tend to do really well, so that is what you should be aiming for. However, it won’t always be that perfect. Even if you do not find this ideal situation falling into your lap, the research stage is still vital for the success of the product. During this stage, you will discover just what the marketplace is currently doing, how it is operating, and where you will be able to fit within it. This is essential for any business to know, regardless of any products you may or may not be developing. Make sure you find out whether it seems as though the world is ready for your new product. If it is, then you know you can easily move onto the next stage.

Initial Meeting

Once you have a rough idea for what your new product should be, then it is time for an initial meeting. This meeting should take place as early as possible, and include as many of the involved parties as possible. The nature of business is that this is not always achievable. However, work hard to include everyone you can at this early stage. It really does make a huge difference in the long run. In an ideal world, you would have your designers, developers and engineers present to take a look at possible solutions. Also present should be the head of your marketing team. The earlier that they start to think about how to sell the product, the more effective their campaign will ultimately be. During this meeting, be sure to give everyone the opportunity to give their opinion on the product at hand. Any concerns raised here should be dealt with immediately. Remember to trust your employees to know what they are talking about when they raise an issue.

Design & Engineering

Now that you have an idea of what your product is about, it is time to start actually producing it. It is possible that you yourself will not have a lot to do with this stage. However, you should be careful to pay attention to what is going on. The last thing you want is anything going wrong with the initial prototype. The most important thing to bear in mind at this stage is that everyone is crystal clear on what is being expected from them. The designers should have a very clear plan in place for what the product should look like. In that same vein, the engineers should be able to be left alone to work out the ins and outs of making it work. If the plans are not clear, this can’t very well happen. Similarly, you should ensure that they are equipped with the best machinery and equipment that you can afford. Ultimately, this is what sets the tone for the quality of the product. With that in mind, be sure to only use the best micromachining services for the product. See LaserLight.com for extra details on what that involves.

Prototype

Once that stage is done, you will hopefully be left with your prototype. This is the point at which the whole thing probably starts to feel quite real. After all, now you have a real product in your hands which might one day be on the shelves. Having the prototype ready is a milestone which should be celebrated. It is also often considered to be something of a point of no return. The fact is, you have now invested so much in this new product that you can’t really afford to turn back. You have already put a decent amount of time and money into developing the product. So it is probably not worth abandoning. That is why many business owners find this stage to actually be quite nerve-wracking. Regardless, take pride in the fact that you have a finished prototype on your hands.

Testing

Now that you have a prototype, it is time to actually put it to the test. After all, what else are prototypes for? The testing phase is one of the most important phases in the entire process. It is at this point that you will discover any of the major problems that your product will have. If you do discover any problems, try not to worry too much. After all, this is the whole point of having a prototype to test out. The testing stage should involve the designers and engineers initially. Once it has made it through that part, it is time to test the product with the general public. Set up a focus group and have them give their honest opinions of the product. This is an essential part of the process ,as it gives you a glimpse of the public opinion about your product. Make sure that everyone in the focus group is given ample opportunity to express their views. What’s more, pay close attention to any issues that they might raise.

Review

After this, it is likely that you will have a lot to discuss with your teams. That’s why now is a good time to get everyone together for another meeting. Again, it might not be possible to call in everyone. That’s fine, so long as the major players are involved or at least represented. During this meeting, you need to go over several distinct things. First of all, you need to ensure that any successful elements of the product are celebrated properly, with credit given where it’s due. However, more important than that is to focus on what went wrong, or what could be improved. Draw together the findings of the testing and the focus group to look at what could be better. That way, you can start to work towards a final product which the public will really want to see.

Final Product

Your various teams should take this information away and work on the final product at this point. It is important to remember that this is the last opportunity for anyone to put any input into the product. So be sure that everyone has been heard and that the product is likely to turn out as desired. Once you have that final product, there will be no going back. Before long, it will be on sale. So ensure that everyone knows what they are doing and that there are no distinct issues. After the final product has been produced, it is a fine idea to test it one last time. Test it with both the developers and once again with the general public. This is the only way to be sure that it is ready to go on sale.

Packaging

Once you are happy with it, you need to start thinking about how it will be presented to the public on the shelves. This stage is more important than people often assume. Ultimately, most of the decision to buy happens when the consumer is actually in the shop looking at products. So you can see how the packaging can be hugely influential in whether or not someone buys your product. What packaging you go for will depend hugely on what the product is, and who your target demographic are. Just be sure to be true to those people, as well as staying brand loyal to your own business.

Marketing

In all likelihood, the marketing team have been working on how to sell the product from the first meeting. By now, they should have in place a full marketing campaign to accompany the sale of your new product. It is a good idea to begin marketing as early as possible. That way, you will have drummed up some interest even before the product hits the shelves. This is the first stage in assuring that the product is a huge success.