- Determine whether your product fits a market need that's not already met
- Change the color, size, design, functionality or packaging to reflect consumer response.
- Find support from distributors and retailers interested in selling your product.
Action Steps
The best contacts and resources to help you get it done
Make a prototype
Prospective buyers want to see a product in front of them before they order. What's more, you need to make sure the product does what it's intended to do and doesn't have usability issues.I recommend: Visit Castle Island's Worldwide Guide to Rapid Prototyping (RP) to find a company that can manufacture a prototype of your product. Prototypes can be made from metal, plastic and other materials, and prototype manufacturers will advise you on how to lower manufacturing costs should you go ahead with production. (Rapid prototyping companies can be found throughout the world by visiting Castle Island's online RP directory.)
Find your audience
Focus your efforts on people who are likely to want what you're selling.I recommend: Companies such as Direct Opinions, Information Resources Inc. and ACNielsen's BASES can identify targeted focus groups for you.
Bring product to the people
Before you try to interest distributors and retailers in a new product, consider presenting the product straight to the buying public to see whether there's interest.I recommend: Exhibiting a new product at a trade show is a tried-and-true method of testing it directly with your target market. Hundreds of trade shows are held throughout the U.S. each year. Biztradeshows.com lets you search a list of American and worldwide trade shows by industry and geography. If you're selling a consumer product – particularly food, clothing, toys or crafts, you might try renting a booth at a state fair. Farmers' markets offer other opportunities to test buyers' reactions to your new product — and you don't need to be selling fruit and veggies!
Hire a test marketing specialist
Depending on your product and where you plan to market it, you might not be able to show it personally or on a broad enough scale to judge public reaction.I recommend: Search the American Marketing Association's online marketing services directory for "test marketing" in your area.
Tips & Tactics
Helpful advice for making the most of this Guide
- If manufacturing a couple of products is cost-prohibitive, use prototypes or mock-ups to show the product to distributors, catalog buyers and trade-show visitors.
- Don't worry about losing money on test market sales. If the test doesn't succeed, you've likely saved far more money that you would have spent.
- To encourage retailers to carry a test product, offer the product on consignment or promise a full refund if the product doesn't sell after an agreed-upon deadline.
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