Highly Sought After Product Development Services

Ideation

When you want to develop any product to sell, you need an idea first, your field of expertise which you excel in or are aware of according to market need, feasibility, profit generation, etc. You will have to create a roadmap of big-picture goals, priorities and challenges you might face. You need to empathise with the consumer—put yourself in his shoes and understand what you would want from a product. Do some research on the needs of the market and determine whether you already face competition or are you the first one.

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Supplier sourcing

You will have to identify and assess suppliers of raw material. Crowd sourcing, sole sourcing, low cost country sourcing, twin sourcing, multiple sourcing, outsourcing are the various types of sourcing you can avail of. To ensure that supply chain is maintained, you need to zero in an efficient supplier, know his reputation, negotiate favourable price, and maintain a good relationship which will lay groundwork for a good business start-up.

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Sales Channel Development

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Ecommerce 

To supplement the efforts of salespeople to accentuate sales, you need other means too to extend product outreach. Remember, returns will not start coming immediately, even if you are doing online business. Select the right e-commerce business model: drop shipping (make your product and a dropship company will do the rest-storing, packing, delivery) print on demand (your product printed and shipped when individual order comes in by other company), affiliate marketing (paying someone else to sell your product) and private labeling  (you will manufacture, online retailer will sell it as his own brand product).