How To Find Ideas For Creating Your Own Profitable Products Marketing Articles | March 29 Michael Frolik Jersey , 2004
How To Find Ideas For Creating Your Own Profitable Products Simply Easier Marketing - Part 3 of 3. ----------------------------------------------------------- (c) 2004 Charles Kangethe --------------...


How To Find Ideas For Creating Your Own Profitable Products
Simply Easier Marketing - Part 3 of 3.
-----------------------------------------------------------

(c) 2004 Charles Kangethe
-------------------------

In this Article we look at the third competitive advantage
of successful Internet Marketers - Creating Products.

The main problem with creating products is not in the build
process, but rather in the "Ideas Process."


Product Ideas Come From NEEDS
--------------------------------

* New Knowledge

Research at centres of learning gives rise to new theories that
provide a wealth of ideas Noah Hanifin Jersey , for new products.

* Emulation

Modification and copying of existing products and services is
the most common source of new ideas for products.

* Ego

Most inventors of products have big ego's that are only
satisfied by the "creative process," from invention to
production.

* Difficulty

Hardship in terms of effort required to do any work or activity
is a rich source of new ideas for products.

* Scarcity

Shortages of necessities and luxuries very often give rise to
new ways and products to overcome the shortages.

Product Development
--------------------

Products can be developed in one of two ways :

* Product Centric Approach

This is where the idea and the product are the drivers of the
process.

Prototypes and initial production runs are completed before
research to find out whether or not the product has a chance
of commercial success.

* Market Centric Approach

In this approach the Market is the driver.

It focuses on identifying clear market needs and then
finding very specific products to satisfy those needs.

With this approach you know your product will succeed
before you commit money to the production process.

The Research
-------------

The two main purposes of research are :

* Technical Viability

In this step you analyse the process and cost of manufacture.

The aim is to find an answer to the question - Can the product
be made in commercial quantities for reasonable cost ?

* Commercial Viability

This step determines the likelihood of commercial success when
the product hits the shelves. You determine how much competitor
products sell for and the expected return on investment.

A Practical Exercise In Creating Your Own Product
------------------------------------------------

Step #1 - Developing NEEDS

Decide on which NEEDS you want to create a product for. For
this exercise we will use Difficulty.

Step #2a - Idea Development Using a Market Centric Approach :

Using a directory of Internet Newsgroups join a few groups and
lurk. Understand the group's purpose and etiquette Elias Lindholm Jersey , and when you
feel comfortable post a simple question. For instance :

=>

Hi Forum

I am doing some research and would like to know what is the
single biggest difficulty you have with x ?

Name

<=

Depending on the level of activity on the group you should get
back one or more ideas to work with.

This is market research in a basic form and can be made more
sophisticated depending on how much time and money you want to
throw at the research.

Step #2b - Idea Development Using a Product Centric Approach :

Think about your own or someone else's daily activities in and
out of work.

What single task is most difficult, repetitive Travis Hamonic Jersey , boring or
uninteresting ?

Here are a few high level ideas :

* List Building

* Writing Weekly Articles

* Scheduling Daily Tasks

For each high level idea, narrow it down :

* Lists - Get more subscribers Sean Monahan Jersey , retain subscribers etc.

* Articles - find fresh ideas, writing Mikael Backlund Jersey , find publishers etc.

* Scheduling - plan the day, timekeeping Mark Giordano Jersey , allocating priorities
etc.

Work each high level idea down to the lowest level of detail
you can, and then use the Internet to find existing products
that deal with your "low" level idea.

Study each product you find and score it for

* Strengths
* Weaknesses
* Availability (Placing)
* Pricing
* Marketing Strategy (Promotion)

Your