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New Product Development Product Development Company

Common Mistakes During New Product Development

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 https://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.

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Product Prototype Development

How to Get a Product Prototype Developed?

One of the most vital steps in a new product development is product prototype development. In very simple terms, a product prototype is a tangible version – which you can see, touch and feel – of your concept. There are many advantages of getting a product prototype made. First, you will be able to view, and even feel, how your final product will be. Second, you will be able to attract some stakeholders who can finance your new product for mass manufacturing. Third, you will be able to actually test and refine your new product idea before mass manufacturing.

When it comes to new product development, many complications can arise. And you will not know all these problems until you first have a product prototype. Therefore, product prototype development is crucial. Fortunately, when it comes to product prototype development, you do not have to make a product prototype on your own; there are many product prototype development companies that can help develop an accurate prototype in a short frame of time and in an inexpensive way. Here are a few steps that you can learn in order to get a product prototype made quickly.

Create a rough sketch of your innovation, and then create a more detailed drawing. In order to draw these drawings, you can do it on your own with a pencil or paper, or you can take help of someone to sketch your innovation based on your description. Once you have the rough sketches ready, you need to have more detailed drawings made. You need to have computer-aided design (CAD) drawings of your concept. If you know CAD application, then you can do this on your own. If not, you will need to hire someone. These CAD drawings will help you explain your concept to the product prototype development company.

Find a product prototype development company that can develop a good prototype based on your requirements and CAD drawings. If your innovation is supposed to be made from metal, then find a prototype development company that specializes in making metal prototypes. If your innovation is supposed to be made from plastic, approach a company that specializes in plastic product manufacturing or rapid prototyping. Revolutionary rapid prototyping is capable of getting your product prototype ready fairly swiftly.

Get the product prototype redeveloped, until it is perfect with construction and function. No one can get the product prototype perfect on the first try! Several product prototypes need to be made in order to get the right prototype. Of course, there are latest technologies available, for instance, Dassault Systèmes’ 3DEXPERIENCE platform, which includes CATIA V6, SOLIDWORKS, 3DVIA, 3DEXCITE, etc., that can help create an accurate product prototype, but then also, at least few prototypes need to be remade. If not due to functional or structural requirements, the need to redevelop prototype may arise because of valuable feedback from potential customers.

Get the final product prototype mass-produced, and launch your idea to potential customers. A product prototype helps you eliminate all the flaws that your product may have. Once you have the final product prototype, which is impeccable in construction and function, you will come to know that your final product will be free from any problems. Now, since you know that your final product will be free from any problems, you can easily go for mass production and sell your product to the potential consumers.

Need help with product prototype development? Get in touch with GID Company. A leading product design and product development company in California, USA, GID Company provides A to Z product fulfillment services, including new product prototype development and mass manufacturing. To learn more about GID Company, visit https://www.gidcompany.com/.

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

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Product Prototype Development

How to Create your Product Prototype

If you have a concept of a new product in mind, the most important thing you can do to see whether it will work is to bring that product idea to life. In order to bring that product idea to life, the best and the safest approach is to create a prototype – a tangible representation of a concept or product.

Product prototype development may or may not be complicated, but it is certainly time-consuming. However, considering the end result, a physical realization of your product concept, it is certainly worth it to spend some time and efforts for product prototype development.

Here is a list of steps for how to create your product prototype:

Prepare a clear drawing of your innovation

It is all right to scribble your innovation on a tissue paper or a rough piece of paper – product ideas can strike at any time! However, make sure to keep that doodle safe until you make a clear drawing somewhere safe. From your rough sketch, draw it out clearly in a sketchbook. Include every detail, like how it will look, its dimensions, its surfaces, etc. Further, write down the list of features that your product will have.

If you know how to use CAD (computer-aided design) software, it will be very helpful to make a CAD sketch as well. It is obvious you will have plenty of drawings; hence, make sure to date them as it may assist you later on when it comes to patent ownership issues.

Build a non-working version

Using foam, plastic, wood, metal or any other materials you are comfortable with, create a non-working model of your innovation. A non-working model will let you gauge the size and form better than clear drawings that you drew in your sketchbook. A non-working model does not have to be perfect or pretty-looking, but it should resemble like your product as much as possible.

Create a plan for how to develop a working model

Once you got the non-working model, it is time to start thinking about how to create a working model. Consider the size, function and usefulness of your product. Think whether it will be of plastic, rubber, metal or some other material. Take into account the product’s important physical qualities. Think about its strength, flexibility and tactile aspects, for instance, its surface’s smoothness.

Make an exhaustive list of all the things you will need. Refer it as many times as possible to ensure you have not left out anything. This list will be very helpful when you decide to go to a product prototype development company; they will use this list as a guide for determining the cost of new prototype development.

Getting your working product prototype manufactured

Creating a non-working model of your innovation can be easy, but developing a fully functional prototype can be challenging. For that reason, you will need to reach out to a reputable product prototype development company. While working with a product prototype development company certainly is an excellent and sensible idea, there are a couple of things to keep in mind when partnering with them.

Sign a non-disclosure agreement (NDA)

Before sharing your drawings, it will be in your best interest to get the NDA signed by your new product prototype development company. As the term suggests, it will prevent the company from sharing your concept with third-party or someone else.

Describe your concept thoroughly

Prototype development companies are experts; however, it is essential to describe your idea as clearly and thoroughly as possible to them. Tell them what you think, explain them about how your product should look like, how it should work, who can use it and so on. This will not only help them provide you an accurate quote, but it will also help them understand what you actually want and what you actually expect from them.

If you are looking for an experienced product prototype development company in California, the GID Company is worth giving a shot. With decades of rich experience in new product design and product development, the professionals at GID Company can help develop exceptional prototypes and test them. They can even help with the enhancement of the prototype and bulk manufacturing of the final product. Jim Grimes at 714-323-1052 8am to 5pm PST for a free consultation.

Learn more about GID Company by visiting https://www.gidcompany.com/

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Product Development Product Development Company

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.

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New Product Development

How to Develop a New Product

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.

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Product Development Company

How will you create a buzz about your new product in the market before its arrival?

As a responsible and diligent entrepreneur, in the year 2015, it is necessary that you stay focused and prepared with unique business plans that can help your business dodge the dense competition prevailing in the market. There are plenty of aspects that you need to consider before summarizing a powerful business plan. However, in 2015, new product development should be at the top on the list.

New / Custom product development, under the supervision of an experienced product development company, can help you gain a competitive edge, dominate your industry, gain more customers, and eventually make more profit out of limited efforts. Their years of experience, skilled workforce, and technical proficiency can help you manufacture a series of successful products for your end-users. Hence, to ensure success, it is essential that you build a convincing platform and find an established product manufacturing company for the product or service upon which your business will be built.

Along with a product development strategy, you need to focus equally on the marketing plans. Nowadays, the trend of creating a prelaunch buzz about a product to be launched is in fashion. Companies are intentionally leaking specs and rumors in their respective markets to generate curiosity in the minds of the targeted end-users. This is an effective method to promote your product before its arrival and ensure its success. With the intention to help inventors and entrepreneurs to ensure success with their new product development, the GID Development Corporation offers tips about how to create a prelaunch buzz and ensure success of your to-be-launched product.

Tips to Create a Prelaunch Buzz in the Minds of End-users

Create a buzz about features – If you believe that your product is faster, superior, and smaller, or comes in different sizes, colors, and configurations than other competitors’ products available in the market, then you hold a powerful selling strength, and there’s nothing wrong in publicizing it. Release product specifications, contact retailers, and contact your targeted end-users via social networks to create curiosity in the respective market.

Create a buzz about its price – Nobody loves to pay more for any product. If, somehow, you can position yourself in the place of a low-cost provider (not letting go your profit margin), then you have another powerful selling advantage. Nowadays, choosy-generation demands high-quality products, that also is within their budget. However, when it comes to high-end products, saving money isn’t always the issue.

Create a buzz about its productivity – Is your product more productive than competitors’ products available in the market? Can your product save time and efforts? If yes, then revel its features and explain to your customers about its enhanced productivity. If your product is exceptional and can help your customers, they will want it. In the age, where time is money, your products and services should be more productive and valuable.

Create a buzz about its portability – The smartphone revolution has taken the world by storm. Instead of sitting in front of bulky desktops and laptops, people prefer using their smartphones to go online. So, an important question arises — how mobile is your product? Smartphone-addicted generation likes to carry things with them­ — they demand products that are portable.

Create a buzz about its availability – The easy availability of your product is extremely good for your business. Make your products and services easily accessible to your customers. Today, thanks to the internet, you don’t need to confine your products and services in a brick-and-mortar location.

Create a buzz about its innovative features – If your product, which is to be launched, is blessed with something that’s not on the market, then you have a major selling point or competitive edge. Introduce your product in style and sell it before your competitors come along and steal your concept.

Create a Buzz about customer service – Impeccable before- and after-sales service is the most significant thing you can add to any products or services. In the world, where everything travels fast, you should offer top-notch customer service to maintain your reputation in the market.

Do you need more pre-launch marketing tips? If yes, then contact the GID Development Corporation at https://www.gidcompany.com/contact-us. GID is a product design and manufacturing company based in California, USA.