New Product Development – Where to start
Do you have a product idea that you’re wanting to get into production?
Have you ever wondered what information you’ll need when taking a new product idea to the design and manufacturer stage?
We’ve created a shortlist of just some of the questions you should be asking yourself to get your idea to the next stage of the lifecycle.
- Do you own the existing IP around the product?
- Will you retain the IP created in the Design Stage?
- Are there any third parties involved in the IP of this project?
- Are there any competitors on the market?
- What is the expected sales price of the product?
- Expected volumes? First-year / future?
- How does your product idea compare with existing products………pro’s and con’s?
- What distribution channels are there? Partners, etc
- How will the project be financed?
- What is the expected budget for the design?
Want to know more or need some help with your idea?