Successful Product Development Begins with a Thorough Evaluation
The earliest stage of the consumer product development process is the most important. The entire enterprise needs to have a strong foundation formed by the results of a rigorous investigation into all aspects of the product, including market size, competition, safety issues, ease of entry into the market, price to value ratio, strength of intellectual property and more. Tarlow Design’s product evaluation process asks the important questions that will help predict a product’s success.
Product Feasibility Study
We start with a Feasibility Study. The feasibility study helps you determine if your consumer product can be made with current technology, and if it has the potential to sell in the marketplace. The feasibility study also includes a preliminary estimate of how much the product will cost to make and a determination of its retail price, based on the cost of production.
We can also put your product through our Product Success Test analysis, where scores are given to the responses of 60 key questions. This analysis helps you understand the strengths and potential weaknesses of your product idea.
The Product Success Puzzle shown on the left is a start for the evaluation process. Does your consumer product have all the pieces necessary for success?
Here’s an example of a recent consumer product development evaluation:
One of our clients came in with a neat idea for a new automobile related product, a special cover for the steering wheel of your car. He had even spent the time and money to build a working prototype. When you tapped on different parts of the steering wheel, drum sounds played from a speaker mounted on the dashboard so that you could drum along to your favorite song on the radio. He called it the “Traffic Jammer.” In his product evaluation, he forgot one small detail. The first time someone had an accident while drumming away on his or her steering wheel, a lawsuit would put the company out of business! Our early product evaluation process, which includes liability issues, could have saved this inventor significant time and money.
When Tarlow Design becomes your innovation partner, we make sure that your product will pass the product success test with flying colors!