Category - Product Creation

all
entrepreneurs
understand
that
productivity
is an essential
ingredient
for
successful
product
creation.
When
teams
work
together
in creating
innovations,
having
the
following
8 ingredients
added
to the
new
product
creation to ensure success.

1. Generating

You
should make
use
of the
basic
external
and
internal
SWOT analyses
and
market
trends
to avoid
competition.
You
can do this
by generating
ideas
that take
widespread
distribution
costs,
affordability and
ROI into account.

2. Screening your idea

You
should set
unique
criteria
for
the
ideas
that should be dropped
or continued.

3. Test the concept

This should be done after screening
your idea.

4. Business analytics

Establish
a metrics system
that will monitor
progress

5. Beta/Marketability tests

This will give
you
crucial
information
that will lead
to last
minute
tweaks and
improvements.

6. Technicalities plus product creation

You
should ensure
that
your technicalities are correct
when
moving
forward.

7. Commercialize

At this
step,
consumers
are buying
your product
and
technical
support
is monitoring
its progress
consistently.

8. Post
launch
review
& perfect
pricing

Examine
the
efficiency
of new
product
development
and
look
for
other
ways
of improvements.