BHR Global Associates, Inc. is dedicated to helping companies bring their products to market successfully. We can help with finalization your design, to helping find the right source at the right price, help you maintain a solid on going supply chain and help you sell the product through our team of sales professionals. Our blog will supply information and details on successes, failures, and road blocks to avoid in bringing products to their full potential.

Monday, November 24, 2008

What ls New Needs to Be Proven

If you have an idea for a product or service you need to prove to yourself first that it is unique and provides a value for the cost.
Too many product ideas never see the light of day and never make it to market because the intended marketplace is too small and NOT truly needed.
Therefore if you have a product idea, do market research and determine the size of the market in both UNITS and more important dollars.
You also have to figure that your percentage of the total market will NOT be 100%, therefore if you determine that there are 10 million customers for the product and over time if you can sell 10% of the market then the project sales will most likely be in the 150K-200K range per year once up to speed.
Well even though that could be a large UNIT volume you then need to see what the DOLLARS will be as well as how many customers, assuming a retail product, you need to sell.
Unless wnhat I described above relates to product that sells for $30 or more this is NOT a viable product and will not sell.
Do the research and you will see what I am saying is correct