Developing a New Product and Bringing It to the Market
15/11/2011 19:41
Another excellent talk offered by Dublin City Enterprise Board today!
Here are a few tips from the guest speakers who have developed products from a cottage enterprise and brought them into large street retailers:
Here are a few tips from the guest speakers who have developed products from a cottage enterprise and brought them into large street retailers:
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Always test the market with the product and review the concept before getting into the product development itself.
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Don't ask your family and friends for feedback when you have a product idea (we all know what they'll tell you and that's how you get people who can't hold a note on X-Factor!)
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When designing a product, keep in mind that the retailers who might buy your product may be limited in space so review packaging too.
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Always ask yourself when you have a product idea in mind: would I buy it myself? How much would I pay for it? (check out the competition if the concept is not new but your product has a feature that others don't have and keep in mind that product development can be expensive).
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Check out this website: https://oami.europa.eu/ows/rw/pages/index.en.do (OHIM is the European Union agency responsible for registering trade marks and designs that are valid in all 27 countries of the EU.)
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Do not over-design: the simpler, the better plus it will be less expensive when comes the time to produce the object.
- 2 books were referred to: One Simple Idea by Stephen Key and The 4 Hour Work Week by Timothy Ferais.