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Product Development is a multifaceted discipline involving a number of essential steps which need to be taken in a definite sequence to avoid unnecessary time and cost. It usually begins with "Innovation" i.e., an idea for a new product or an improvement of an existing product.

A number of different factors then become important...

Technical Specification of the design features and materials. Are there any special safety considerations? Are all the materials or components available?

Cost factors such as production time and material costs are always important.

“Manufacturability”. Can it be made in volume to an acceptable quality and cost? Is it better to subcontract production?

How is it best sold? What about packaging, distribution, and service?

Marketing and Pricing. What price will the market stand? How will people get to know about it? What will motivate potential customers to buy it?

What is the competitive situation? Are there any patent, royalty, trade mark or distribution licence issues?

To evaluate each of the above quickly and effectively requires experience. Many new product developments stall for a variety of reasons and this is the very nature of development.

The key is to revue and screen the various options in the right order and at the right time to minimise the chances of proceeding down blind alleys and having to change direction. At the earliest possible stage the decision "Is it worth doing" always needs to be made, but it needs to be based on good information.

Product Development

Establishing how and where to access the facts and information that you will require to assess your best options for developing new products and services is an essential precursor to every project. We can help by facilitating this process.