Category: Blog
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Testing the Durability of Products
When you’re introducing your new product for the first time, you need to be confident that its durability measures up to both industry and consumer standards, you also need to be sure that the pricing of your product meets the right price point for your industry, which can be done with resources like Van Westendorp…
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How to Test Product Marketability
According to research, around 30,000 new products are launched every year, and of those 95% end up failing. All too often, in a bid to recoup investment or to beat off the competition, brands rush new products to market with testing whether it resonates with consumers, or indeed whether the product is something that people…
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The 7 Step Product Development Method
For most seasoned business owners and aspiring entrepreneurs, the product development process often carries a mystical aura. And when you hear the origin stories of other great ecommerce businesses, it’s often clear the journey to a finished product rarely resembles a straight line. For example, when Tina Roth-Eisenberg’s daughter brought home some semi-permanent tattoos she…
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Licensing vs Manufacturing Your Invention
Factors to consider when deciding whether to license your invention or manufacture and market it yourself. There are two main ways in which inventors can seek to profit from their inventions: “Inventor-for-Royalties”: If you are a typical inventor, you will want to license your invention and collect royalties, or even sell it outright to another…
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New Product Development
What is product development? Product development — also called new product management — is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services. Product development includes a product’s entire journey — from the initial idea to after its market release. The objective of…