Designing, manufacturing, packaging and taking a new product to market can be a daunting task for any size business. Many have tried and failed. Here are our top reasons why the venture may not have achieved the desired outcome.
1. You didn’t research
You may think it is a fantastic idea and your friends politely agree but is your product something people need or want? Is it solving a problem for your potential customers? Ensure you have a prototype made and find key people in your industry, or spokespeople for the target market, to review your product before going into mass production. That gives you the opportunity to tweak, improve and troubleshoot before you end up with thousands of products in your warehouse.
2. You didn’t consider the aesthetic of the product
Your product may be the best thing since sliced bread, and everyone may need it, but are they going to want it if it’s an eyesore. Ensure you consider the aesthetic appeal of your product, who will be using it and where it will be used – not just the functionality.
3. You are trying to be everything to everyone
Decide on your target market or ideal customer and design the product to suit them. Stay focused
4. You didn’t differentiate your product
What makes your product special? How is it different to the other products in the market? Not just similar products but other products that customers could spend their money on instead of yours.
5. You didn’t have an effective launch strategy
Don’t wait until the product is manufactured and in your warehouse to start marketing. Get the word out. Create a buzz. Generate as much publicity as you can. Attend a trade show. Start a Facebook page. Send the prototype to get reviewed by bloggers. Take pre-orders.
6. Your branding missed the mark
Building a strong and relevant brand for a new product is vital. Your logo, packaging, website and marketing material need to be consistent and appeal to your target market. Make sure you consider the gender, age, personality and income of not only the user, but the purchaser, who may not be the same person.
7. Not considering your sales channel
How do you plan to sell your product? Online store? Ebay? Supermarket chain? Your own stores? Once you know your sales channel you can package your product accordingly. For example. if you plan to sell to a supermarket chain your products need to be packaged in SRT cartons, barcoded and labelled ready to put on the shelves. If you plan to sell online, make sure it arrives in drop-ship packaging ready to label and deliver.
If you would like advice at any stage of the design process don’t hesitate to call us on 1300 885 091 or send us an email email@example.com.