New product development - Costs and prices workshop
Here are some of those activities:
Idea concept ● Market testing ● Researching IP opportunities / impediments ● Checking standards ● Proof-of-principle prototype ● Protype testing ● Initial design ● Prototyping ● User Testing ● Third-party-test-house? ● Registering IP ● Working with a designer / manufacturing consultant ● Finding a manufacturer ● Detail design for manufacture ● Production Tooling ● Sourcing samples ● Checking the quality ● Designing and sourcing packaging ● Sourcing small batches ● Sourcing production batches ● Product liability insurance ● Product launch ● Licensing opportunities
Quite often the lone entrepreneur has a bright, innovative idea and sets out along a path to turn that bright idea into a successful product launch. Here is a warning:
- For that successful, mature company, it is likely that bringing their next product to the market will cost more than they, with all their experience, had estimated
- For the inexperienced developer, it is not uncommon that they hit costs for services whose existence they didn’t know but which are highly desirable / mandatory.
This workshop explores the activities involved in bringing a physical product to market (not for APPs, or services). It will advise on typical costs for each stage. It will be suitable for those contemplating their first project – or for those who have already been through the process.