New Product Ideas – A Complete Guide To Get The Best Ideas For Product Development

New Product Ideas

New product ideas are indeed helpful to stay in the world of entrepreneurship which is indeed a competitive one. There are so many new products that are being created every single day and it can be hard for entrepreneurs and enthusiasts to know where to start. There are so many product development companies that you will find in the current competitive market. But it will be beneficial for the growth of your business if you get innovative and unique product ideas from a highly experienced and expert product development company such as GID Company.

Our professionals will help you take your idea from the drawing board and bring it to life in the marketplace. We can build market-ready products for you based on your Innovative and amazing product ideas. But our experts will also assist you in advising or suggesting the best product ideas that will excel in the market. In this article, we will help you go through the process of generating new product ideas and assist you in turning your product idea into a reality.

How Can I Find Inspiration For A New Product Idea?

One of the most important aspects of product development is coming up with a new idea. This is often difficult and time-consuming as there are many aspects to consider. Many doors can open up with new product ideas if you are actually looking in the right place. Some of the most common ways to get a new product idea include:

  • Brainstorming
  • Researching market trends
  • Observing your surroundings
  • Customer Feedback or Suggestions From Other Stakeholders

Brainstorming is when people create a list of all possible ideas for a product. They will then follow the process of ranking the best ideas based on how much they believe the idea will succeed. Some companies like Apple have developed their products by brainstorming new products continuously.

Researching trends is another common way to come up with new product ideas. If you pay attention to what your audience wants, you’ll be able to see what they’re interested in and possibly get a bucket of new and unique product ideas that would actually help your consumers or end-users.

Watching the trends of your industry can help you discern whether your idea is competitive. While observing your surroundings is a good way to come up with new ideas for products related to your industry. If a lot of people are wearing sunglasses, for example, it could indicate that there’s a trend coming up that’s worth looking into.

Additionally, gathering information and details about your business competitors will help you stay ahead of the curve and it is the key factor a business follows in any industry. To figure out the competition, try visiting the websites, social media pages, and the online reputation of your competitors. Make sure to keep up with your followers to stay in the competition and do not wait to try out something new with your unique and astonishing product ideas.

Sources Of Good New Product Ideas Include:

The sources of good new-product ideas are like a vast ocean waiting for enthusiasts and individuals to explore. Most people find the sources of new product ideas by looking at the world around them. While others look at what other companies are doing. Some people think that they should be looking for new product ideas in their own company, but sometimes, this kind of approach can be a mistake because it is difficult to see what is happening in your own backyard.

People who have an idea for a new product often think that they should not tell anyone about it because they want to keep it a secret or patent it before telling anyone else about it. This can be a mistake as well. Because other people might have the same idea as you and if you don’t tell anyone about your idea then you will never know if someone else had the same one as you did first. Therefore, keeping your idea in your mind will not bring an opportunity to improvise the product ideas that people already have. At GID Company, we have brilliant minds who can act as your source of new product ideas. Feel free to contact them at +1714-323-1052.

Most New Product Ideas Come From Innovative Environment

The environment of innovation is what sparks new product ideas. It can be in the form of a new idea or an old idea that was never executed. But most new product ideas come from your surrounding environment. It is a proven fact that if you will look around yourself, there will be a hundred things that go unnoticeable. Changing your point of view to look at things can help you find new product ideas easily. 

A lot of companies have an innovation department. These departments are responsible for generating and executing new ideas that come from the company’s employees. Innovation departments are often found in startups and tech companies because they need to be agile and innovative to keep up with the rapid pace of technology advancements.

Innovation is not only limited to a company’s employees, but it also includes its partners, customers, and suppliers. Companies will often go out into their community to find a diverse group of people who can help them generate innovative and new product development for the company’s next big project or product launch.

Which Of The Following Represents An Internal Source Of New-Product Ideas?

Product managers are responsible for generating new product ideas and bringing them to market. Most of them spend their time researching the needs of customers, analyzing data, and collaborating with other departments to develop products that will meet those needs and requirements of end-users. Internal sources that can provide new-product ideas are as follows:

Sales team - GID Company

Sales team:

Salespeople have a good idea of what customers want because they talk to them every day.

Customers

Customers:

If you ask your customers what they want, they might not know how to articulate it, but they’ll know when they see it.

Marketing Team - GID Company

Marketing Team:

Marketing teams can observe trends in the market and identify the best opportunities for new products.

Engineers - GID Company

Engineers:

Engineers often have a good sense of what is technically possible so their input is invaluable when brainstorming new products.

External Source Of New Product Ideas For A Company

Many companies in the market are struggling to come up with new ideas for their products. However, they often run out of product ideas, and they also don’t have the time or resources to invest in research and development. To solve such a problem, some companies have started using crowdsourcing platforms like Quirky or Crowdspring. These platforms allow companies to post a request for a product idea, and then they give access to a wide range of people who can pitch their idea. The company or business then reviews and analyses the product idea pitches and selects an idea that suits best for their industry, knowledge, and expertise.

Crowdsourcing has the potential to be a good solution for new product ideas, but it does come with some risks. Since these platforms are open to anyone, there is no guarantee that the suggestions will be flawless. Additionally, it won’t be possible for companies to verify whether the person submitting an idea has any skill in developing products or is a newbie pitching random ideas. We recommend getting assistance from product development experts to obtain reliable and new product ideas.

What Are The Best Resources To Find Inspiration For A New Product Idea?

Well, every business owners, as well as entrepreneurs, have their own unique and different personality and opinion which will lead them to find inspiration for a new product idea in their own distinctive manner. Some people believe that the best way to find inspiration for a new product idea is to take an existing product that you are interested in and then use it as a basis for your own unique product idea.

However, some people also consider that a great way of finding inspiration is by looking at the competition. You can do this by using tools like Google Alerts or BuzzSumo to monitor what others are doing in your industry and see if there are any ideas you can get inspired from.

Another way of finding inspiration for a new product idea is to look at the market and see what people want actually. This could be done through surveys or focus groups or by simply asking people on social media what they want or expect from your kind of business.

Although there are so many ways and approaches to help you get a new product idea for your business, it depends on your expertise, experience, and preference for which ideas to choose and implement.

Companies Looking For New Product Ideas Should Contact GID Company

GID Company is a leading product development company in California, USA providing product a wide range of services including product ideation, designing, prototyping, testing, development, and market-launch. Having more than 20 years of experience in the industry, GID Company helps other companies improvise old product ideas or generate new product ideas that can succeed in the current market. Our highly experienced and well-versed professional product experts and engineers provide companies with excellent ideas to develop helpful and market-ready products. Companies that are seeking assistance to develop or generate new product ideas should contact GID Company to get impeccable product ideas along with a marketing strategy advice on how to develop a product efficiently. If you have a great product idea and want to turn that product idea into a market-ready product, feel free to Contact Us or call us at +1714-323-1052. You can also follow our official social media handles – Facebook, LinkedIn, Twitter, and YouTube

5 Phases of Product Development Process [2022]

5-Phases-of-Product-Development-Process-GID-Company-California-1

The new product development process usually starts with Idea Generation.
There are 5 phases of product development process in the initial phase of product development where the new and innovative ideas are generated only to go through screening and concept development before reaching the final stage of product introduction in the market.

Steps of Product Development

As most entrepreneurs and business owners may know, new product development is indeed a significant process that small as well as large enterprises go through for their survival and expansion.  The business environment becomes competitive by the day, and everyone has to adopt new strategies and ways to keep up with the market trends. From product conception to product launch in the market, everything comes under the new product development cycle or process. To make the product development process simpler, we have enlisted here the five phases of the product development process a business or individual needs for new product development.

Idea Generation

Idea Generation

In this first stage of the new product development process, the businesses will define and clear new and innovative ideas regarding the product. Some of the crucial sources of idea generation come directly or indirectly from business owners, customers, competitors, journals, etc. The ideation sources may vary depending on the business models and hence, the product concept or idea must be well defined before the beginning of actual product development. The ideas generated during this phase of the product development process will act as an important pillar for the entire product development cycle.  

Screening

Screening

Once you have the list of ideas generated based on the customer and competitor analysis, you have to go through screening, the second phase of product development. The main purpose of the screening phase is to filter out or churn down the product ideas to the appropriate and viable ones. Also, it will be essential to take opinions from employees, relevant businesses, and of course, customers in order to avoid costly and expensive options. At the end of the screening product development phase, your business will have a few product ideas that are reliable and feasible from the large pool of ideas.

Concept Development

Concept Development

Concept development is considered to be the third stage of the product development process which involves some research and analysis of potential costs, revenue, and approximate profit to be generated within a specific time period after launching the product. Utilizing the SWOT analysis, the firm will be successful in finding out the strengths, weaknesses, threats, and new opportunities in the global or local market. Defining the market through important market segmentation, the firm will set out to identify the product niche which affects most decisions. 

Product Development

Product Development

During this phase of the product development process, the expert and experienced product developers, designers, and engineers will work on the finalized product design to develop a new product from scratch. The product will be manufactured on precise and detailed information and instruction in such a way that it fulfills all customer needs and requirements. After the analysis of a market-ready product, the business owner will be asked whether to go for large-scale product manufacturing or small-scale production.

Commercialization

Commercialization

The new product development process starts with idea generation and ends with product commercialization or product launching – the last phase of the product development process. In this phase of product development, the business owner or entrepreneur will begin the promotion of products through effective and essential marketing campaigns. Based on the concept development research and data, the location, timing, and potential customers will be defined for the product introduction in the market.

Frequently Asked Questions

What are the 5 stages of the new product development process?

The five stages of the product development process include,

  • Idea Generation
  • Screening
  • Concept Development
  • Product Development
  • Commercialization

Additionally, there are several other sub-phases of new product development depending on the product or business.

The new product development process usually starts with ________.?

Idea generation or product ideation is the first or beginning stage of new product development in which the new, unique, and innovative ideas are listed out based on the analysis of customers and competitors.

What is the first stage of new product development?

As stated earlier, you can consider Idea Generation as the first stage for new product development. Whether you want to design a new product or if you want to develop a product from scratch, the process begins with generating product ideas or concepts.

How much does it cost for the new product development process?

The cost estimation for new product development depends on various factors such as the type and category of product you want to develop for your business or organization. Feel free to get a free quote by calling us at +1714-323-1052 or Contact Us.

What is the final phase of the product development cycle?

Product commercialization or launching in the market is the last or final phase of product development in which the business will launch promotional campaigns for new products.

Why New Product Development Is Important?

New product development Importance

Well, new product development is what most entrepreneurs and business owners have been searching for. If you have a new, unique, and innovative idea about building a helpful and useful product then you need a professional product development company such as GID Company.

From product prototyping to launching a market-ready product in the market, our well-versed and skilled professionals can help your business grow rapidly.

There are hundreds of things one should consider when it comes to learning about the importance of new product development. But as a business owner or entrepreneur, one needs to think carefully about investing their time and fortune. That’s where our product development company steps into.

Turn your innovative and excellent ideas into reality with our product development company in California. Having more than 2 decades of experience and expertise in providing exceptional services related to new product development, GID Company has such a strong and powerful bond of trust among its clients and customers. If you want to grow your business and reach new heights of success, then knowing about the importance of new product development can open many new opportunities for you and your business. Not only does it help to create brand awareness among the market but also there will be a wide audience your business or product can reach over time. Want to learn more about how product development works? Click Here.

What is new product development?

Basically, new product development is the overall process with several important and essential designing and developing steps or phases to shape a unique, robust, and excellent product from scratch. Being a leading product development company in California, GID Company has a team of highly experienced and certified product engineers who can make your product concept work. Our product developers can guide you through the entire process of new product development after understanding your vision or product idea. It will be possible for you to develop a successful product with the help of our product development experts.

Our well-planned and goal-oriented approach to product development lead our product development firm and our clients to a better future. We offer premium quality services when it comes to new product development. Some of our product development services include,

  • Product Ideation
  • Concept Development
  • Product Design and Development
  • Product Prototype Development
  • Product Testing and Launching

Contact GID Company To Know The Importance of New Product Development

GID Company is one of the most trusted and renowned product development companies in the USA. If you have a brilliant product idea and if you want to turn that product idea into reality, then you should make sure to give us a call at +1714-323-1052. Our product development experts and professionals will be more than happy to answer all your queries and questions related to new product development. Contact Us to schedule a free consultation with us and clear all the doubts in your mind before moving forward to develop a successful product. For regular updates about product development, please follow our social media handles – Facebook, LinkedIn, Twitter, and YouTube

How to Design a Product Prototype?

How To Design a Product Prototype

If you have a new product idea that can help the mass or simplify their day-to-day tasks, then it’s time to get it developed with the help of a product development company like GID. But, before jumping on to the main product development process or initiating the bulk manufacturing process, it is important that we test the feasibility of your idea and test it in a practical environment so that we can enhance it – both in terms of functionalities and designs.

According to Jim Grimes, this can be done by prototyping your idea/concept. You can design a product prototype and test your idea in terms of usability, durability, and expectancy. If you don’t know how to design a product prototype, then you can Call Jim at +1-714-323-1052 or continue reading this blog.

How to Design a Product Prototype

  1. Time to Craft Your Idea: Getting a revolutionary new product idea is challenging and bringing it to the market is even more complicated. Therefore, as an innovator, you should then think about the design of your idea – how would your product look and feel.

    The answer to these questions depends on many different aspects, such as design trends in the market, your end-customer’s requirements, the final selling price of the product, competitors’ products, and the current market scenario in your niche market. To get started, here’s what you should do to streamline your idea generation process:

-> Thorough Market Research: Get into the market that you are about to target with your product. This will help you evaluate the market value of your product, the competition around it, conclude the final selling price, and overall development cost and time.

-> Consult Industry Experts: You can approach a product development company or consult a team of product development experts like Jim to gain valuable insight. The team can give you some valuable technical and marketing insights.

2. Create a Rough Representation of Your Idea: After thorough market research and consulting the product development experts like Jim Grimes, it’s time to move on to the next step – creating a rough representation of your idea. Having a product in your imagination is not going to help you; thus, you will have to manifest your idea either on a piece of paper or virtually on a computer program.

A concept development company in California like GID can help with it. With the help of designing software like CAD, you can create a virtual 3D replica of your idea. A rough representation of your idea will offer you a clear idea of your product’s size, dimensions, and many other factors. It also allows you to observe your product’s performance in a virtual simulation.

Also, Read our Blog: Difference Between Alpha and Beta Prototypes

3. Time to Create a Physical Prototype: This is the stage when you prototype your idea that can be tested in terms of design, functionalities, and aesthetics. While creating a product prototype, make sure it best represents the final product. Well, according to the product prototype development experts at GID, a working prototype can be created with the help of 3D printing and CNC prototyping. To learn more about prototype development, please Click Here.

4. Refine Your Prototype: This stage of product prototype designing and development can be labeled as one of the most tiring and time-consuming tasks. This is because you need to make all the designing and functioning changes to come up with the final product and meet your desired expectations. However, before refining your prototype, please remember the below-mentioned points:

-> Stay updated with the latest trends in your niche market
-> Be prepared for last-minute changes to meet the trends
-> Keep improvising your product to excel in the expectations
-> Register your pattern to prevent plagiarism and duplication of your idea

Need Help? Call Jim for a Free Consultation at +1-714-323-1052

If you have a great new product idea that can earn you fame and fortune but don’t know where to start, then it’s time to consult Jim for professional assistance. Jim is a product prototype development expert at GID and loves to help innovators have awesome new product ideas.

From conceptualizing to final product release and marketing, Jim is here to help you with everything related to new product development in the US.

To schedule a free consultation with Jim, you can call him at +1-714-323-1052.

To learn more about prototype development, you can watch our videos on YouTube at https://www.youtube.com/c/Gidcompany.

GID is one of the top-rated product design companies on www.Clutch.co, to view our professional profile on the clutch, please Click Here.

 

 

8 Steps to Take your New Product Idea from Concept to Consumers

8 Steps to Take your New Product Idea from Concept to Consumers

steps involved to bring a simple product idea to life and take it to the market, i.e. to the intended consumers. If you are an innovator with a solid new product idea, wanting to materialize your brilliant product concept, then here are 8 steps that you need to heed and follow.

Step 1: New Product Concept

This step usually consists of rough sketches of your new product idea. If you have not put your product idea or thought, on the papers yet, then you should immediately do so. Doodle rough sketches of your concept. Along with sketches, it will be very helpful to furnish some information about your product. Write down what your product is, what features it will have, how the consumers will use it and so on. If you have knowledge of computer, then prepare the rough sketches and note down the info about your product in a good computer application.

Step 2: Extensive Research

After drawing rough sketches and writing down info about your intended product, you might now have a good overall idea about the new product. Now perform a market research: is there any demand for your new product? Whether any similar product or products exist in the market? If similar products exist, how is your new product going to be better? What region will be profitable? You need to answer such questions in order to create and launch a successful new product.

Step 3: New Product Design Development

After gathering valuable info from an extensive market research, you can proceed to develop feasible product designs for your new product. New product design can be complicated; you need to answer several questions in order to create a viable product design for your new product:

  • What are the functions of my products?
  • Will it withstand rough use?
  • Will it be re-usable?
  • Can the product be developed at a reasonable price?
  • For mass manufacturing, will the manufacturing process be easy? Does the product contain multiple parts?
  • What will be the quality of the product?
  • From which materials can the new product be made?

All these questions and more need to be answered while creating new product designs for your product.

Step 4: New Product Prototype Development

When you get a viable product design, you can then proceed to create prototypes based on the design. A prototype is the first tangible form of your new product idea. You can see it, touch it and actually feel it. A product prototype can be as simple or as complex as you want. With a product prototype, you can actually get a complete picture of your new product. It also helps attract potential stakeholders, and eventually, the capital that is needed for mass manufacturing. Product prototype development in the past was expensive; however, with the advent of new technologies, for instance, Dassault Systèmes’ 3DEXPERIENCE platform, New product prototype development is now cost-effective.

Step 5: Testing & Feedback

This is a very important step. Once you have a solid product prototype, you can perform various tests on it. Test it to see whether it works the way it is intended to work. You can also test its sturdiness. After testing the prototype, give it to a group of potential consumers and see how the consumers react. The group of potential consumers will also give valuable feedback, which you can implement before developing and launching the final product. If certain tests fail, or if there are certain features that need to be added, you can go back to Step 3 and Step 4. Thereafter, you again need to perform Step 5. You need to keep on doing this until you achieve a well-accepted product prototype.

Step 6: Mass Manufacturing

Once you have a well-accepted product prototype, which has passed tests and has all the features that the potential consumers had suggested, you can proceed to mass manufacturing. For mass manufacturing, you can go to an already established manufacturer, or you can set up your own production facility; it all depends on the capital you have.

Step 7: Quality Test, Packaging, and Branding

The final product needs to pass through various quality tests. The final product should be flawless in terms of quality, design, and functionality. While the final product is going through quality tests, you need to come up with suitable packaging for the product. You cannot simply give a bare product to the consumers. You need to have a proper package for your product. Along with the packaging, you also need to develop a brand name of your product. You need to come up with unique, enticing logos for your product. Further, you also need to develop certain promotional items for your new product. Advertising and publicity are also necessary in order to let the consumers know about your new product.

Step 8: Launch

Finally, it is time to launch the product in the market. By now, you will already have enough stock of your product. Arrange for the proper channels for your product distribution. You will also need to arrange or set up proper outlets where you can sell your product.

Well, that is it. These are the steps that you need to heed and follow to bring a new product of your own into the market. Mind well, these steps may look simple, but they are not. It requires considerable time, effort and resource. While you can do these all on your own, there are certain product design and product development companies that can help you out. For instance, GID Company can help you materialize your idea, and also help take your new product to the potential consumers.

GID Company is a product design and product development company based in California, USA. They have numerous years of experience in new product design and product development. Whether it is new electromechanical products, medical device products, products with electronics, products with imbedded software, or any other types of products, GID Company can design, develop, and deliver it to the market.

GID Company is also offering a free 15-minute telephone conference with one of the product design and development veterans, Jim Grimes. You can call Jim at 714-323-1052 between 8:00 AM to 5:00 PM PST.

How to Convert An Idea into A Rewarding New Product

How to Convert An Idea into A Rewarding New Product

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. Checkout our product Soccer Hinge.