The product development process involves getting your product from concept to market. Although how you approach this process may differ depending on your industry, the same steps are used broadly almost everywhere for new invention development. Successful products usually follow these 7 stages of product development.

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Conclusion

Product idea

No matter what field you are in, you can’t make a product unless you have an idea of what the product may be. This is where enlisting the services of a product and concept design company can prove to be invaluable. Creating a product idea isn’t easy because the world already has helpful and exceptional products. What will make your product worth buying? A good product should solve a pressing problem your potential client has. If you don’t already have an idea, you can develop one based on the SCAMPER method.

The SCAMPER method has you look at the following ways to change a current product so that it’s better:

Substitute: Substitution is looking for a material or product people want but won’t buy for some reason and solving that problem. A great example is plant-based burger patties for vegans. You might also be able to offer a more cost-effective solution to an expensive product with cheaper material.
Combine: Sometimes combining something can make it handier to use. Combining a can opener and a bottle opener is more convenient than an ordinary one. Why buy two products that take up extra space in your drawer if you can get one that does both? Combining old products into one convenient new product is a convenient way to start a new product line.
Adapt: Do you know of a product that you can change in some way to improve it? For example, the next generation of iPhones often has better cameras, improved maps for getting around, and handy tools like flashlights. These adaptations help give consumers an incentive to buy a new one.
Modify: In the same way, can your product be modified so that it is easier to use or more ergonomic? Think of ergonomically designed keyboards to help ease tension on wrists or make typing easier and faster.
Put to another use: Nalgene bottles were once laboratory products prized for their durability. Nalgene was wildly popular as a water bottle that could be used, abused, and still hold water. Sometimes, a good product must be offered to a new sector to be unique.
Eliminate: Sometimes, a product isn’t good because it has too many buttons or is hard to understand. Simplifying it can make the product more approachable and understandable for your customers.
Reverse: Finally, reversing the product order can sometimes reveal new ideas. Looking at a problem from a new perspective can show fascinating results.

Researching the new invention idea

Once you have a good idea, it’s time to do your due diligence. You don’t want to invest a lot of time and energy in a product that won’t have any market value or has already been done. Introducing the idea to the target demographic and asking their opinion of the product is worthwhile. A test group can show you whether your product will perform well on the market. If people receive your product warmly, chances are it will sell well. If they are skeptical or don’t find it helpful, it may be time to return to the drawing board.

Making a new product plan

If research indicates the product idea is worth pursuing, it’s time to map the road to success. This is more complicated than picking a manufacturer and setting a launch date. You’ll need to have a prototype made and tested, hire a manufacturing drawing company to create detailed manufacturing blueprints, and figure out how much everything costs and where to sell it.

A plan of action helps you keep your team organized, so each member can help product production go smoothly. If your product has many parts, listing individual pieces can help you keep track of it for building a prototype. You should also list possible materials, make sketches of the product, and gather any data to make the idea as straightforward as possible.

Creating a product prototype

Possibly the most critical part of the product development process is creating a prototype. A prototype allows you to see the product physically and handle it. It will tell you if the product is ergonomic, if there are problems with the idea that wasn’t apparent from drawings, and has other applications. Prototypes don’t necessarily have to be made from the same quality material as the finished model but should be close enough to the final product to be handled and tested.

Freelance prototype design engineering services can help you by designing a 3D model of your product, which can often be 3D printed locally to save on costs. Prototypes are invaluable for other reasons, too, such as showing investors and other stakeholders what they are financing. Cad Crowd offers freelance prototype design engineering services for companies, prototype design services, prototype tooling and manufacturing, and rapid prototyping services for investors.

Gathering materials to create a new product

Materials make a huge difference when creating a new product. There’s a difference between faux leather and genuine leather, silk and polyester, and different types of plastic. In this phase, you’ll need to find suppliers for the materials you need to make your product. You’ll also need to figure out who will manufacture your product, how to get it shipped, and who will sell it. All of these things are critical to the creation of your product. Product creation can sometimes be cumbersome, with many steps required along the way. A straightforward spreadsheet of suppliers and shipping companies needed to get the job done is essential to help speed the process.

Identifying a product price point

Once you have figured out the logistics of creating a product, you can pinpoint each product’s creation cost. You need to know the product’s base price to know how much you need to sell each product to make a profit. Don’t forget to add shipping, tariffs, import fees, and other expenses. There’s often a lot more to the price of a product than the materials alone.

Once you’ve calculated all the potential costs, you’ll need to figure out how much additional per piece the profit will be. If you set the price too high, customers may not be willing to pay it. If the price is too low, you may not be able to cover unexpected expenses or have to sell a lot to make a reasonable profit. It’s worth taking the time to consider the price point to ensure you are getting it right.

New product launch

The product is finished after a long process of ideation and product development. The product is now ready to sell. The final step of the product is to put it out in the world and give consumers a chance to buy it. Marketing and finding places to sell your product can be equally important for sales as creating a quality product. Getting the message out about your product can be challenging, but here are a few ideas on what you can do to make a launch successful.

Standard advertising: Traditional advertising is popular because it works. Advertising to your target audience helps introduce your product to consumers who may need or want your product. Traditional advertising has pros and cons—although effective, it can be expensive.
E-mail list: Letting customers who have purchased from your company before or perhaps are excited about your product launch is another excellent way to introduce your product. E-mail lists are valuable because they are people who care about your company and are more likely to purchase your products. If you don’t have an e-mail list due to being new or for some other reason, it may be an excellent time to start developing one.
Affiliate marketing: Offering bloggers and online websites a small percentage to sell your product can produce excellent sales results. Affiliate marketing allows other people to sell your product, and you don’t have to pay them until an actual sale is complete. Since affiliate markets are motivated to advertise your product for you, they can also work indirectly to raise awareness of your product.
Get reviews: Reviews help give consumers curious about your product confidence to buy. Early reviews are critical for assisting future customers in considering your product.

Conclusion

Product development is a complicated process that has many steps. Navigating this process is vital to have a successful launch. A good product needs to solve a customer’s problem and be developed well enough that people recommend it to others. Prototyping, sourcing quality materials, and finally getting the message out so people can find your product are all essential steps.