Nowadays market competition for every product has become very violent, so it’s vital to develop some innovative products to win market. Especially for consumer product development. However it’s not easy to develop a new product successfully. InnoPD has over 20 years of experience in product design and development, we would like to share some important tips on consumer product development.
Catch the customer’s value points
Before you start with a project, you should know your customer very well. Be deeply aware of why the customers need your products, what are the core points that your customers care about? When customers choose a product, they must have some value points in minds. This is what a product developer must catch up. If you do it right, you will have a successful project. If not, you might loose your money and project.
Investigate your competitors
If you are going to develop a new product, you should find out top 5~10 competitors. And find out the advantages and disadvantages of their products. Because you need to learn those advantages and avoid their disadvantage, which will enables you to develop a better products than your competitors. In one word, you need to combines those advantages to your product, then your products will be very competitive and attractive.
Build a unique and strategic product
Prior to building a product, you need to have a clear product strategy by locating your product position, role, and value to distinguish your products from others. Making your product unique and different, be sure there is no similar products as yours.
Make a good sales channel
Sales channel is very important to determine if your product can survive in the market. For example, retail and wholesales are totally different sales channel, if you can’t deploy your sales channel right, you might loose your customers even your products are very good. Here below are some typical sales channels:
- Personal Selling
- Automatic Retail