Category Archives: New Product Development

How to Develop a New Product

How to Develop a New Product
How to Develop a New Product 4.00/5 (80.00%) 3 votes

Follow these simple steps to develop a new product or to modify the existing product.

  1. Create an idea for a new product or to modify the existing one.
  2. Analyze how this idea will fit your strategy, market position, and manufacturing skills.
  3. Conclude whether your customers are looking for such products or not. What are the unique sales points of your product? Figure out key risks and summarize a marketing strategy accordingly.
  4. Research the level of competition for your product in the market. Learn from your competitors’ successes and failures.
  5. Build a project team responsible for undertaking and monitoring all necessary manufacturing phrases, including conceptualization, designing, prototyping, manufacturing, and marketing.
  6. Plan everything – conclude which activities must be executed first and which can be carried out later or in parallel.
  7. Plan your budget, goals, and timescales – during product development, frequently analyze your goal at a regular interval of time, and if required, modify the strategy.
  8. Analyze possible risk factors associated with the project such as technical errors, patent licensing, etc.
  9. Pen down product specification and convert special features into product requirements. Focus on key selling points.
  10. Ascertain what price your new product will have.
  11. Design the product based on decisive aspects such as marketing, manufacturing and purchasing requirements.
  12. Create a product prototype. This will help you eliminate all the technical and product issues prior to the time of bulk manufacturing.
  13. Get ready for bulk manufacturing and launch the product at the price ascertained earlier.
  14. Keep on monitoring the product success and explore opportunities for more success.

New Product Development

New / Custom Product Development is a process of designing, prototyping, manufacturing and commercializing new products to benefit targeted end-users. It can also involve enhancing an existing product line (both functionally and esthetically) for a particular market segment. This discipline is concentrated on organized methods for guiding all the processes involved in getting a new product to market.

Why a Company should Consider New Product Development in 2015

Why a Company should Consider New Product Development?
Why a Company should Consider New Product Development in 2015 5.00/5 (100.00%) 3 votes

The year 2014 was quite competitive for businesses, and the competition is expected to reach new heights in the year 2015. Therefore, every business needs to innovate in order to survive and to stay ahead of the competition. Offering the same unchanged products to your customers will decrease your profit margin as well as the reputation of your brand in the respective market. Here, we will summarize some facts about why a company should consider new product development after a periodic interval of time.

Customers “Needs and Wants” Change– Customers’ requirements and necessities continuously change with the time. Therefore, to survive, a company should answer these changes through their services and innovative products. If they fail to cope up with the “Needs and Wants” of their customers, the customers will instantly switch to competitors’ products that meet their requirements and necessities. The tech-giants Google and Apple are the best example. Both of them frequently update their product offerings to satisfy end users’ requirements.

Life Cycle of a Product– Every product comes with an expiration date. The product that you introduced a ways back may be at the end of its life cycle; therefore, as a smart entrepreneur, you should launch new and improved to please and attract your customers. For example, Apple Inc. recently introduced iPhone 6 and iPhone 6 plus as iPhone 5 and 5s were outdated, and end-users were waiting for something amazing and incredible.

Product Reaches its Maturity Stage– Technology has penetrated in every industry, helping them create innovative and more functional products in less time. Because of this penetration, products very soon reach their maturity stage. End-users also constantly search for innovative products with version updates and new features. Introducing new or updated products can stimulate sales.

Level of Competition in the Respective Market– Either small, medium or large, the level of competition around every business is constantly intensifying. A healthy competition inspires a company to come up with new products regularly. This is very common in the technology market, where new products with advanced features are constantly being launched to a target market that welcomes innovation and change. If a product successful, then competitors will try to create a similar product with better features.

Unsuccessful Products– Unfortunately, if your products are facing poor sales or experiencing negative reviews, then it is time to upgrade your product offering.

Despite the size of your business, new product development is a significant activity for every business. There are many over the top advantages of product development, but the most important ones are it allows you to stay ahead of the competition. To know more about why a company should consider new product development in 2015, contact the GID Development Corporation at www.gidcompany.com/contactus

While considering these facts, businesses should also look into Product Development and Factors to Consider Before New Product Development, which will help them create a new product to survive and to stay ahead of the competition.

Contact Product Development Company, GID, to Realize Innovations for Your Business

GID product development company in california
Contact Product Development Company, GID, to Realize Innovations for Your Business 5.00/5 (100.00%) 2 votes

GID product development company has assisted entrepreneurs create landmark and market–expanding new products for more than two decades. The heart-winning product development company’s synergetic approach combines industrial product design, mechanical engineering, and brand management into a modernized, comprehensive product manufacturing process. GID’s result-oriented design and manufacturing values consistently deliver products that not only exceed client anticipations but also flourish in the marketplace.

GID was established with the perception of unifying industrial design and mechanical engineering within a single product manufacturing company, offering clients with a complete product development solution. Since the very first day of its inception, GID never compromised with the quality of the product, neither it occupied itself in developing ordinary products that lacked the potential of making end-users’ life comfortable. Manufacturing innovative, lucrative, and dominating products for different business entities, including medical, automotive, aerospace, personal electronics, etc. was the main objective of the company.

The five factors that make us stand apart and over the ordinary development company are as follows:

We are hungry about innovation– Transforming a client’s concepts, requirements, and challenges into revolutionary, marketable products and successful brands satisfy our hunger for innovation. For over two decades, our hunger for innovation has resulted in the manufacturing of successful products, setting new benchmarks. We have developed heart-winning and innovative products for diverse industries such as electronics, medical, consumer products, industrial, and sustainable technologies.

We love to develop creative solutions bearing complex challenges– Extracting maximum out of the latest technologies to discover workable solutions is decisive in manufacturing feature-rich products that connect with discerning consumers, expand into fresh markets, and succeed through profitability. Our qualified, vibrant, and enthusiastic team of product designers and engineers puts design and product development to new heights of creativity, re-writing the definition of new product development.

We have in-depth, multi-disciplinary expertiseOffering the complete set of product manufacturing services – from conceptualization, product design, validation, prototyping, to manufacturing – is crucial to assisting our clients determine innovation. Creative teams at GID have adequate knowledge, experience, and technical expertise required to effectively handle industrial design, product manufacturing, electronics and software development, and production management services.

We are delivering consistent success– We have a habit of upholding consistency in the manufacturing of new / custom products that realize innovation demands commitment, expertise, and heart. We consider each project as if it is the first, engaging ourselves in every detail yet preserving an all-embracing innovative vision. We hold the track-record of manufacturing products that extracted consistent success for our clients. Completing a project in time and in the agreed budget is our specialty.

We are all on the same table– Maintaining collective, team-based relationship with clients is the key reason that we have produced so many creative products. We work closely with our customers in a friendly environment that unifies the visions, knowledge, and views of every team member to develop revamped, likeable product features and designs that stand above the ordinary and succeed in the marketplace.

Contact GID – A Product Development Company

Whether you are a prospective client or an existing one, we would love to hear from you about your concept. Based in California, GID loves working with clients ranging from startups to large companies. If you have a creative idea, a product design challenge, or a collective opportunity, then contact GID at http://www.gidcompany.com.

Product Development Company, GID, California – How to Bring Your New Product to Market In the Most Professional Manner to Ensure Success

Product Development Company, GID, California
Product Development Company, GID, California – How to Bring Your New Product to Market In the Most Professional Manner to Ensure Success 5.00/5 (100.00%) 2 votes

We are creative people and innovative by nature, having dozens of new ideas spinning in our head. However, the bitter truth is that only small percentages of ideas ever get started, and make it to the daylight. This happens because most of us don’t initiate the belief that our ideas have the potential to shine in the market, whereas, some ideas fail due to the absence of appropriate tools, skilled workforce, and a flexible marketing strategy to endorse the product.

The task of introducing a new product to market seems overwhelming and far too expensive to most entrepreneurs, but it is one of the most essential elements of new product development. With an objective to help entrepreneurs launch their new product effectively in the market, and to encourage new product development, GID, a product development company in California, conveys some vital information that entrepreneurs should consider before introducing their product to the market. For more information, you contact GID at http://www.gidcompany.com/

Know Your Market – When outlining your business plan for launching a new product, it’s critical to thoroughly understand your market and behavior of your targeted customers. Understanding your respective market and customer’s demographics will help you conclude exactly what kind of marketing tactics will work the best.

Points to Consider:

  1. What are your key markets?
  2. Size of your market?
  3. Major competitors and competing product in the market?
  4. Existing opportunities for your product?
  5. Rising trends in the market?
  6. Who are your potential customers?
  7. Requirements and behavior of your potential end-users?
  8. Their buying budget?

Make Proper Research – To research your market, start with the existing, published research information, as it will assist you understand numerous deciding factors such as, how big is your market, whether it is growing or not, what the trends are, and what competitive products are available.

Efforts required from entrepreneurs’ end:

  1. Market and consumer reports
  2. Product and trend analysis report
  3. Trade magazines and events
  4. Consumer media
  5. Statistics released by Government Agencies
  6. Trade press

Marketing Strategy – Powerful marketing begins with a considered, well-defined marketing strategy. A well-informed marketing strategy helps you define your vision, mission, business objectives, and summarizes the steps you should take to accomplish these business goals.

Important Points for Marketing Strategy:

  1. Product
  • - What is USP (Unique Selling Point) of your product?
  • - Competitive advantage?
  • - Why would customers buy your product?
  • - Product manufacturing opportunities?
  1. Price
  • - What price will market take?
  • - What is the supposed value of your product?
  • - Paid or free marketing
  • - Online presence, press releases, social media
  • - Consumer exhibitions, trade events, industry awards

Distribution Strategy – Distribution strategy is equally important when you plan to bring a new product to the market, and is one of the classic “4Ps” in marketing (product, promotion, price, and placement a.k.a. “Distribution”). Remember, when defining how to distribute your new product, use the traditional distribution model as an opening point. The conventional distribution model has three levels: the producer, the wholesalers, and the retailers.

  1. Distribution Options:
  • - Sell your product through wholesale distributor
  • - Sell your product through retailer
  • - Sell direct to end consumers
  1. Factors to be Considered:
  • - Nature of your product
  • - Size of market for your product
  • - Industry / Channel
  • - Key competitors in the industry
  • - Available resource

Above-mentioned tips will certainly help you bring your new product into the market in the most professional and profitable way. When you plan to launch a new product, don’t forget to consider important factors such as your competitors, customers, geographical boundaries, latest demographic data, and trends in your markets.

Contact GID – A Product Development Company, California

For a detailed look at how to manufacture a new product and how to bring it to the market in the most professional manner, contact GID, a product design and development company in California: http://www.gidcompany.com/contactus

For New Product Design and Development Services in California Call GID at 714–528–2482

New Product Design and Development Services in California
For New Product Design and Development Services in California Call GID at 714–528–2482 5.00/5 (100.00%) 2 votes

Do you have a new product idea that can hike your profit margin and simultaneously wow the world? If yes, then what are you waiting for? Contact a reliable product development with your idea today.

The process of new product development begins with an idea, a striking new product idea or an improvement in the concept of an existing product (in terms of features and appearance). However, manufacturing a new product is a complicated job and not everyone’s cup of tea. More often than not, researchers and inventors believe that great ideas are all that they require developing moneymaking products, which is very short sighted. For developing great products that can stir the market in your favor, you need detailed research and a strategically defined product development process.

When planning to develop new product for your targeted customers, do not forget to analyze their requirements. Before you schedule anything, ask yourself:

  1. What features are required to make your product different from similar products existing in the market?
  2. What will be your product’s unique selling point?
  3. Does your product require more features and functions?
  4. Whether the product developed is for the consumer market?
  5. Or is it being developed for rugged industrial usage?

The most important first step in new product development is product specifications. The latter can aid you to think through and pin down the essential product information so that they will help as your directional signs to move ahead in the product manufacturing procedure. Does your product run through electricity, or does it run on batteries? How much power will it consume? How many buttons and keys should it have? In the absence of detailed product specifications, your product idea will probably be fluctuated and subjected to changes and indecision, eventually transforming the product development process into a seriously complicated task. Therefore, be sure to decide and pin down product specifications before you move on with any of the manufacturing steps.

On the occasion, if you are not sure that your concept will work or not, then a feasibility study is recommended by the experts. Let’s say, for instance, your concept is to miniaturize the mobile phone into a wearable gadget, say a smart watch, then you need to undertake a technical or feasibility study to conclude whether it is possible or not. Are there any appropriate batteries small enough to support standard phone usage, but tiny enough to be able to fit into the smart watch? Where to find other components, and which operating system will be powering it? Will all these components be small enough to fit into the smartwatch? Let’s consider that you found all those tiny components needed for manufacturing a smartwatch, but what about the cost of the components? Is the overall manufacturing cost feasible or not?

Another important aspect to consider in the manufacturing strategy is the number of items you are going to produce in the first batch. Are you going to produce the first batch only for marketing purpose? How many units will you develop for promoting your product? Your product manufacturing strategy will determine the type of the product development process that you will need to employ. Are you going to use low volume manufacturing process, or will you use high volume techniques?

Staying focused and proactive is the way to successful new product design and development. A proactive approach from the very beginning can save time and money. In this ever competitive world, understand what your customers require and try to keep them happy.

For more than two decades, GID has been in the product design and development business in California. We have comprehensively done hundreds of product design and development projects for different industries. For more information on product development service in California, contact us at http://www.gidcompany.com/contactus.