With the world moving so totally fast and people’s attention being constantly diverted by the latest and greatest, you, as a retailer or an inventor need to be able to find a place for your product to wedge into the public consciousness. When you are handling the product creation aspect, that’s when you first need to consider the product's use and the viability of the product for your market.
What separates your product apart from anything else that’s out there? This is one of the first questions you as an investor should consider. After all, product creation is fine, but what is this product's use going to be in the world? Where are you going to be able to sell this product? Who is your primary customer? And what separates your product from another similar product on the market? For this stretch of the game, you as the head in charge of product creation need to be at the top of your game. This is no time for dilly-dallying around; when your product is set to release is far too long past to be considering these questions; these are issues that need to be addressed, looked at, studied, and answered while you are in the product creation phase.
For your needs, there is the internet. The World Wide Web has a whole host of resources for you to go and see what other people are using for the same end as your proposed product. This is the time for you to pick apart the competition. If you can’t find much discernable between your product and similar existing ones on the market, then what is the purpose of even creating this piece in the first place? If you find that there are multiple products out there that do essentially what your product is proposed to do, then you need to go back to the drawing board and understand your product at a deeper level. What is the need of the community of shoppers? What do they like and dislike about your competition? If there are no ways for you to make the existing product any better, you could face an uphill battle as the brains behind product creation.
However if you do have a role for your product and if you are able to discern what your product offers that is different from everything else that’s out there on the market, then maybe you should go ahead with the product creation. Once you have found a niche for your product and your message, finding the customers isn’t the problem; these customers who have the need that your product fills will come and find you! While these rules of product creation might sound elemental, figuring these facts out saves everyone a lot of time at the end of the day.