Tag Archives: Product Development

Outsourcing: The Best Approach to Introduce a New Product in the Market

product Design and development
Outsourcing: The Best Approach to Introduce a New Product in the Market 5.00/5 (100.00%) 1 vote

A couple of decades ago, entrepreneurs and small companies had to do everything themselves when they wanted to introduce a new product in the market. These days, as the technology advances and people demanding more and more revolutionary products, doing everything in-house may not prove to be possible, at least, economically.

Hiring the right resources, that is, product design experts, product development engineers, prototyping geniuses, marketing gurus, sales whizzes, etc., on a full-time basis, is incredibly expensive, especially for entrepreneurs and small companies. Fortunately, these days, there are several good American product design and product development companies established to whom these small companies and entrepreneurs can turn to when it comes to introducing new products in the market. Outsourcing most of the requirements is a prudent solution, allowing entrepreneurs to get the very best, and only pay the outsource partner when they need its assistance. Here are some of the functions that an entrepreneur can outsource:

Product Design & Product Development

Unless you are a skilled engineer, experienced with creating new products, you will certainly want to outsource the processes of product design and development of your potential product. Even if you are a good engineer, many projects need multiple engineers with multiple skill sets. For instance, any electromechanical product typically needs, at least, a mechanical engineer, electrical engineer, and an industrial designer who can create a suitable casing or enclosure for the potential product. If your concept is for a product with imbedded software, you will definitely need a software engineer.

Further, if a certain portion of an electrical product, mechanical product, electromechanical product, medical device product, or any other product, is complex, you may need multiple engineers with different skill sets. Having such engineers on a permanent basis is expensive and not to forget impractical, as you will not need them on a frequent basis. For that reason, outsourcing product design and product development is the best approach.

Product Prototype Development

Product prototype development is another important function that you may definitely want to outsource. Similar to product design and product development, product prototype development is a difficult process, which requires experience, multiple skill sets, and adequate product prototyping software and equipment. Having full-time product prototyping experts with vast experience and multiple skill sets is again very expensive. Further, acquiring product prototyping software and equipment is also costly. For that reason, outsourcing product prototype development makes sense.

Bulk Manufacturing

Bulk manufacturing is one of those important functions that you should certainly consider outsourcing. Bulk manufacturing a new product means establishing a suitable-size facility, procuring expensive manufacturing equipment, setting up an assembly line, hiring different personnel, and so on. This involves a colossal investment, which may simply prove impractical or impossible for small companies and entrepreneurs. Outsourcing bulk manufacturing drastically reduces expenses as well as risks.

It will be in the best interest to outsource bulk manufacturing to a USA-based company that is capable of small production runs. Once things start to flow smoothly, you can turn to an Asian manufacturer in order to raise your profit margins.

Marketing

Marketing should be the least likely function to be outsourced. No one can do better marketing of your product than yourself. This function should be performed in-house. You can hire several marketing consultants who may perform some research and offer good marketing guidance. Having an in-house marketing team will also provide you a good control over your marketing efforts. Still, if you are a startup with limited capital, you can consider outsourcing the marketing to a specialized agency.

Sales

Similar to bulk manufacturing, this is another crucial function that you should definitely consider outsourcing. Sales representatives or manufacturers’ representatives are an important component in just about every industry. They typically work on a commission, so you do not have to pay them anything until they truly generate sales. It is really a prudent decision to outsource sales.

Outsourcing sales function not only saves money, but it also helps you establish and connect to the wide sales network channels. Selling a new product to distributors and wholesalers usually requires a strong connection, which you will certainly gain by outsourcing to sales representatives.

Well, these are certain functions that are worth outsourcing. There are some product design and product development companies in the USA that can carry out all the functions on your behalf. For instance, check out GID Development Corporation. A vastly experienced product design and product development company in California, USA, GID Development Corporation provides the complete A – Z services, from new product design to product fulfillment and everything in between. Whether you want to take a new medical device product, new electromechanical product or any other type of product to the market, GID Development Corporation will assist in every phase.

Learn more about GID Development Corporation by visiting http://www.gidcompany.com/.

Currently, the leading product design and development company in the US, GID Development Corporation is offering a free 15-minute telephonic consultation with one of the veterans, Jim Grimes. You can call Jim at 714-323-1052 between 8:00 AM to 5:00 PM PST.

Common Mistakes During New Product Development

Common Mistakes During New Product Development
Common Mistakes During New Product Development 5.00/5 (100.00%) 1 vote

The success of a business enterprise entirely depends upon its products and innovations. Good products and innovations arise from efficient product development strategies. Numerous new products hit the market every week, but not many actually yield the kind of return that the enterprises had expected. So what seems to be the problem?

Most businesses often miss out on several important aspects of the product development process, which ultimately factors to the failure of the entire project. Consequently, they end up overspending and missing the predetermined launch date only to introduce a new product that isn’t precisely the best. In order to avoid this pitfall, what can businesses do? Well, they should avoid the following common mistakes:

Not Performing the Market Research

Prior to the new product development, failing to carry out thorough market analysis and research is one of the biggest mistakes that businesses make.

Not performing the research leads to the failure of the entire project, as businesses have no vital information about what the consumers actually want, how they can meet their demands, and how they can address the prevailing problems.

While every business has deadlines to meet, it is essential to make a habit of performing extensive market research before moving on with the new product development process. This way, businesses can escape any likely mistakes and create a decisive plan that will lead the way for better future product developments.

Not Planning for the Future

A new product development is all about bringing new innovations for the future. Product designers and product developers spend a considerable amount of time in creating solutions that will not only give a respectable return in the present, but also in the future. Not planning for the future factors directly toward bad product development. It will also affect future product development endeavors.

In order to avoid this, ensure to design your new product for the present as well as for the future. This way, you will be able to devise simple, yet useful products with superior features that can also address the future needs. Therefore, when you have a solid idea, ensure to analyze and visualize how it will function and perform in the future with the advent of new technological advancements.

Not Focusing on Product, But on its Benefits

Most businesses believe that a successful new product should offer a number of benefits to its potential consumers. While it is an excellent approach to product development, it may raise several issues and problems in situations where the new product actually cannot provide what was suggested or quoted. Remember, the focus of the product development team has to be on the development of the product itself instead of the benefits offered. Eventually, the consumers will purchase the product for its benefits, but if you do not focus on the limitations of the product, the final result would be an exceptional new product that maybe no one would want to buy.

Pricing it Too Low or High

One of the main objectives of every business is to gain maximum return on the new product they bring in the market. Nevertheless, if the price of the new product is too high, the consumers will not buy it and if the price is too low, the business will fail to make the profit. Therefore, the price of the new product has to be on par with the advantages or benefits it offers. The business also needs to consider the purchasing power of the target market while setting the price for its new product.

Remember, if the price is high, the consumers will probably ignore the new product, and the product will remain on the shelves, leading to a big loss. Therefore, a business needs to ensure to price its new product based on the price its competitors charge.

If you want to learn more about new product development or if you want to create a successful new product, GID Company can help. GID Company, a new product design and product development company in California, USA, has vast experience in designing and developing successful new products for its clients. Utilizing the latest technologies, like Dassault Systèmes’ 3DEXPERIENCE platform, the professionals at GID Company even help develop new product prototypes at reduced costs. Aside from new product design, product development, and product prototype development, GID Company also helps with product branding, product packaging, manufacturing, inventory management, and more. To learn more about GID Company, just visit http://www.gidcompany.com/.

Currently, the new product development expert in the US, GID Company is also offering a free 15-minute telephonic consultation with one of the veterans, Jim Grimes. You can call Jim at 714-323-1052 between 8:00 AM to 5:00 PM PST.

Electromechanical Products – They Don’t Appear Out of The Blue!

Electromechanical Products
Electromechanical Products – They Don’t Appear Out of The Blue! 5.00/5 (100.00%) 2 votes

While new product development is the systematic process of designing, developing, and taking the new product to the market on behalf of innovators, electromechanical product development is the same process.

Electromechanical products are those, as the name signifies, that comprise both electrical and mechanical components. While the overall concept of electromechanical product development remains the same as normal product development, realizing or developing electromechanical products requires additional electrical and mechanical engineering. Although the addition of electrical engineering and mechanical engineering processes or procedures to product development may sound simple, it is not so.

Electrical engineering is a broad engineering genre, which pertains to the study and application of not only the electronics and electricity but electromagnetism, as well. While these are unfathomable subjects to a normal person, the end products of electrical engineering are all the things that run on some form of electricity, which we normally see around us daily. Ranging from light bulbs to power grids to computers to smartphones to automobiles to spacecraft, everything that requires some sort of electricity to operate is a result of electrical engineering.

Mechanical engineering is even a broader field of engineering than electrical engineering. It involves the study and application of mechanics, thermodynamics, kinematics, electricity, structural analysis and material science to name a few. Again, these are

difficult-to-understand concepts, but the end products of mechanical engineering are machines and devices that we see around us every day. Wristwatches, toasters, shower faucets, door locks, elevators, automobiles, aircrafts, are all some of the finest examples of machines and devices that resulted from mechanical engineering.

These days, more and more people demand new and revolutionary electromechanical products – products that could change their lives, make their everyday tasks easier. Innovators do have the potential to come up with breakthrough electromechanical product ideas, but realizing or materializing these ideas into real products on their own is something quite impossible to achieve. Fortunately, there are certain product design and product development companies that help these innovators fulfill their dreams.

New product design and product development companies, which are capable of developing new electromechanical products have extensive skill sets that innovators need. These product design and product development companies have the product designers, product engineers as well as industry leaders (think-tanks) who can utilize these engineering principles and work along with tools like CAD (computer-aided design) programs and PLM (product lifecycle management) solutions to generate designs, create prototypes, and eventually final electromechanical products. Not only electromechanical products, but using their skill sets, these product design and product development companies can create medical device products, products with electronics, products with imbedded software, and pretty much most of the unique products.

If you happen to be an innovator or have an idea for electromechanical products, medical device products, products with imbedded software, products with electronics or any other kinds of products that you would like to materialize and take them to market, the GID Development Corporation can help.

Led by industry veterans having over 40+ years of experience, the GID Development Corporation is a product design and produce development company based in California, USA. They have the in-house capabilities to complete new product design, product development, product prototype development, production setup, product manufacturing, branding, packaging and other product fulfillment services. Utilizing the latest technologies, like Dassault Systèmes’ 3DEXPERIENCE platform that includes CATIA V6, ENOVIA, 3DVIA, SOLIDWORKS, 3DEXCITE, and more, GID Development Corporation significantly reduces the product fulfillment time and cost, i.e. product design time and cost, product prototype development time and cost, etc., allowing them to accomplish their customers’ vision quickly, at reduced costs.

Whether it is the designing, prototyping and development of revolutionary electromechanical products, medical device products, products with electronics, products with imbedded software, or any other types of products, GID Development Corporation will “Get It Done.”

Learn more about GID Development Corporation, their engineering procedures, the technologies they use, and how they can help bring a product idea to life, by visiting their website http://www.gidcompany.com/.

You can also Call Jim at 714-323-1052 between 8:00 AM to 5:00 PM PST for a free consultation.

Development of Medical Device Products

Medical Device Products Development
Development of Medical Device Products 5.00/5 (100.00%) 3 votes

Developing medical device products is in most ways no different from developing any other kind of product. Therefore, let us first look at the similarities of generic product development and medical device product development.

How medical device product development is similar

Development of any product, whether it is an electromechanical product, a product with electronics, a product with imbedded software, a medical device product, or any other type of product, involves the following necessities:

  1. Understanding the precise needs of an innovator and the stakeholders
  2. Recognizing all the constraints of new product development
  3. Implementing a coherent way of realizing the needs, i.e. creating an effectual new product design after thorough research
  4. Proving that the product development company has met the needs of realizing a new product, i.e. developing new product prototypes and thereafter finalizing the prototype based on which mass manufacturing can initiate
  5. Taking the new product to the market

The development of medical device products also faces certain specific challenges, which also affect many companies these days:

  1. Fierce competition
  2. Take the new product to global markets
  3. Shorten development time as well as time to market

How medical device product development is different

The cardinal difference between generic product development and medical device product development is the highly controlled domain in which medical device products are developed, sold, and utilized. From the very early days, the medical industry has been operating within stringent compliance structures. This has repercussions that need to be considered carefully:

  1. Regulatory agencies always demand proof of compliance, and to make things worse, regulations vary between markets
  2. Conflicts with regulatory agencies can result in substantial damage
  3. Product designers need to record and show traceability from the actual user needs through to the delivered products
  4. Product manufacturers need to have a system set up that ensures consumers’ requests and complaints are managed and resolved
  5. Everything needs to be recorded / documented and reported
  6. Ineffective product can cause injury or even loss of life

Safety has always been one cardinal aspect when it comes to the development of new medical device products. In addition, technology, especially software application, is emerging as a crucial differentiator. Medical innovations powered by technology / software application range from the robot-assisted surgery to automation of lab work and reporting of results. The imbedded software has the capability to keep up with rapid product development, because product development companies can add functionality more quickly to a software application, than to the hardware. If the product development company cannot assimilate software into its product fulfillment processes, the time to roll out new products increases. For that reason, it is crucially important to connect software development to product design and other product development processes.

Everyone needs to consider different sets of regulatory requirements when it comes to medical product development. This can get complicated because different regulations are based on different philosophies. Local regulations, for instance, the FDA, are based on results and not on proposing specific activities. Many international standards, however, propose ways of working. For that reason, medical device product manufacturers need to find a balance. It can indeed add more complexity towards maintaining compliance with applicable regulations.

Failure to comply with any of these regulations can result in grave consequences. These can include large fines, shutting down of the company, and even jail.

Best approach to the development of medical device products

As mentioned, medical product development needs absolute adherence to different regulations, pertaining to the medical industry; hence, the best approach to the development of medical device products is to partner with a reputable product development company, like the GID Development Corporation (http://www.gidcompany.com/), that has an extensive experience in the realms of product development for the medical sector.

New product development companies, like the GID Development Corporation, know the severe compliance structures of the medical industry. Complying to those structures, along with using the latest technologies, these product development companies can build medical device products that adhere to all the necessary standards of the medical industry. They have tools and technologies, for instance, Dassault Systèmes’ 3DEXPERIENCE platform, which enable them to create pragmatic product designs and prototypes quickly, accurately, and economically. With these technologies and knowledge, new product development companies not only can realize a product quickly but can also materialize a product that could prove lucrative to the innovators and stakeholders.

Thus, in order to realize new medical device products, innovators should collaborate with product development companies that have enough knowledge about the medical industry. Some companies can even help these innovators take their new medical device products to the local as well as international markets.

Learn more about GID Development Corporation, their engineering procedures, the technologies they use, and how they can help bring a product idea to life, by visiting their website http://www.gidcompany.com/.

You can also Call Jim Grimes at 714-323-1052 between 8:00 AM to 5:00 PM PST for a free consultation.

How to Convert An Idea into A Rewarding New Product

How to Convert An Idea into A Rewarding New Product
How to Convert An Idea into A Rewarding New Product 5.00/5 (100.00%) 2 votes

Someone’s dare to think out-of-the-box and bringing those unbelievable product ideas to life have revolutionized the human civilization. These new products have certainly made our lives more comfortable and easy. In the 21st century, new product development not only fuels the economy but at the same time, it also wins the heart of people wherever it goes. New product development holds a long, rewarding history, and during this course of time, we came across thousands of success stories that inspired us and failure stories that taught us a lesson and left us thinking, “What went wrong?”

So, is there any way to aid entrepreneurs avoid or overcome product development pitfalls? According to the GID Development Corporation, there are many tricks to ensure successful new product development, even if you are new and don’t know anything about custom product development. In the last 40 years, The GID Development Corporation has helped hundreds of businesses transform their ideas into rewarding new products. This not only helped businesses boost their economy but simultaneously helped them sustain the fierce competition and create a vibrant brand name in their respective industry.

As the need of every new product development is different, the journey of every entrepreneur is also different. Here are six tips to get you started on the path of success, and they are as follows:

Take a fresh start with your idea– When it comes to successful new product development, there is nothing like a shortcut. Before you initiate a new product development process, it is recommended to thoroughly analyze your market, understand your end users’ requirements and expectations, what features are needed, and most importantly, what your competitors are offering. Keep your mind open and try to collect as much data as you can collect before you make any move. Some other points to consider are overall manufacturing cost, product’s retail price, your profit margin, and competition in the respective market.

Don’t forget to validate your market– This step is one of the introductory steps to custom product development and according to the product development experts, this step should never be ignored or overlooked. We are creative, and when we own a new product idea, we get mesmerized by our concept and tend to put earmuffs and blinders on. For instance, you work in a company where your task is to advise your boss as to which product will yield maximum ROI. The most reliable method to find out this is to ask them “Your Targeted Customers” about their likes, dislikes and expectations by conducting the survey.

Keep it simple– Often times, due to overexcitement, we include showy features that are unnecessary. These unnecessary features not only make the manufacturing process complex but also increase the overall manufacturing cost and time. Developing premium quality products with only necessary features with an affordable price tag can generate more sales and more profit.

Fund Raising– You will need a lot of money for manufacturing a product from scratch; hence, to overcome the financial problem, you can try options such as microloans, credit lines, crowd funding, and other online funding alternatives that suit your business. To help you in your venture, here are some options from where you can raise the funds, and they are: SoMoLend, Opportunity Fund, Accion USA, Kiva Step Ahead Loan Program, and Kabbage. Moreover, with mere efforts, you will easily find an investor for your project.

Product Prototype Development– Product prototype development is the most important phase in new product development. Once you approve the product design, instead of initiating the bulk manufacturing process, start with something basic like rapid prototyping of the concept that can be refined repeatedly. It does not need to be fancy or costly. The reason behind the product prototype development is to test the functionalities and to conclude whether your idea is feasible or not.

Have a business plan ready– It has been observed that most entrepreneurs ignore the importance of the business plan. But, the fact is, a tactically framed business plan helps you enter the market more swiftly and efficiently. A business plan will help your products / services gain instant clarity, focus, and market trust. A single business plan can answer many questions at a time such as:

  1. What am I manufacturing?
  2. Who are my targeted end-users?
  3. What is my commitment to my customers and to myself?
  4. What are my goals, strategies, and action steps to accomplish these business goals?

If you are new to custom product development, or if you need any help related to custom product manufacturing, then Call Jim Grimes at 714-323-1052.