How Do I Get New Products to Market?

You’ve developed a new product that you know the public would benefit from, and you can’t wait to get it to market. There’s just one problem: you don’t know how to get your newly developed product to market! You aren’t alone. For many entrepreneurs, bringing new products to market is a challenging endeavor. While knowing that you aren’t alone is certainly comforting, that doesn’t solve your problem in getting your product in front of potential customers. So, how do you go about navigating this vital step in the process of introducing your fantastic product to your target market? Read on for some simple tips that you can use to guide you bring your new product to market!

How Do I Get New Products to Market?

Do a Patent Search

First thing first: do a patent search. You want to make sure that your idea or invention doesn’t exist and isn’t on the market before you develop it, and the best way to do that is by doing a patent search.

Putting all that time, effort, and money into developing your idea or invention and turning it into a marketable product only to find out that something just like it not only exists but that it is already on the market would be a real bummer.

Assess Your Invention or Idea

Once you’ve confirmed that your idea or invention hasn’t already been created and been brought to market, assess your idea or invention by asking yourself the following questions:

Create a Prototype

The next step involves turning your idea into a prototype. You want to make sure that it’s high-quality, and as appealing to potential investors as possible. Use the skills and resources that are available to you. If you’re a good artist, create a realistic drawing, for example.

It’s important to note that when you’re developing a prototype, you want to make sure that the idea you present to potential investors is as close to complete as possible so that they can imagine the final product.

Look Into Provisional Patent Applications

Now you can start looking into provisional patent applications (PPA). This step is important, as it will allow you to protect your idea and will shield you from financial losses while you’re working on bringing your product to market.

Check out the website of the US Patent and Trademark Office for more information on provisional patent applications.

Determine Your Target Market

Marketing your product to the right audience is crucial, so take the time to pinpoint who that market is. Once you’ve done so, you’ll be able to fine-tune your product so that it will meet the needs and/or desires of the audience, thereby improving your chances of success.

Determine Manufacturing Costs

You’re also going to want to determine the cost of manufacturing the product. Speaking with an expert in the field that you’re product relates to and asking for some information is a great way to get an idea about manufacturing costs.

You’ll also want to spend some time conducting more research into your market. For example, see if you can find out the price points products that are similar to yours are selling for.

Revise and Create

Fine-tune your product to enhance its appeal. Doing so will help to ensure that it will attract customers in your target audience. Once you’ve done the fine-tuning you can start working on the creation process. The creation process involves turning your idea into an actual, tangible product.

Network with Companies and Small Businesses

Once you have a product in hand, you’ve reached the final step of bringing a product to market. Not it is time to start connecting with companies and small businesses that will sell your product.

Look for companies and small businesses that already sell products that are similar to yours. For instance, if it’s a children’s toy, look for entities that sell children’s toys and already have a customer base for products like yours.

Remember that you want to present your product in a positive light. Indicate how companies and small businesses would benefit from selling your product.

Getting New Products to Market

These simple steps can help you organize your ideas and turn those ideas into tangible products that can actually be marketed and sold to consumers. Now it’s your turn to start building and bring your new products to market!

What can Fortress Nutrition LLC do for you?

Rest assured that you’re in good hands with Fortress Nutrition. To learn more about how we tailor our blending, ingredient sourcing, logistics, consumer packaging, and other services to meet customer needs, and find out how we can partner with you to ensure compliance with new GMO laws, contact us today.