Introducing your idea to the Market, the processes used

We become forever wealthy when we solve a problem in the world or even a community. Bill gate solved a single problem and becomes forever wealthy simply because he introduced an idea that is of the utmost need in the market. How do you get your idea into the market and getting it approved in the market for people to start accepting it.

Firstly there are Stages of Product Development in the market
Design Awareness and Planned Creativity in Industry
By L. Bruce Archer

Strategic Planning

  1. Policy Formulation
    i.  You have to Establish strategic objectives
    ii. Also put down an outline timetable, innovation guidelines and overall budgets.


2.  Taking a Preliminary Research
i. Take a look about invention in your locality, discoveries and know about a product and its base
ii. Study about its need in the market, the market opening, rate of demand and its deficiency
iii. Create the existing state of the art
iv. Establish the performance specification
v. Try to detect the likely areas that critical problem is to be observed

3. Having a Feasibility Study
i. Create technical feasibility in the market
ii. Create financial viability
iii. Solve critical problems in principle.
iv. Draft out an outline of overall solution(s)
v. Give an Estimate of the work content of the last two phases (4 & 5) and the probability of success

4. Having a Design Development
i. Enlarge and measure the performance specs
ii. Create a comprehensive design
iii. Forecast product costs & technical performance.
iv. Draft out design documentation
v. Give user trials and sketch out evaluation experiments

5. Prototype Development
i. Build the first prototype(s) and its mock-ups
ii. Set tests and stall experiments with prototypes
iii. Assess technical performance
iv. Check in-use performance and set user trials with prototypes

6. Trading Study
i. Re-check the market potential in light of trials
ii. Re-check costings
iii. Evaluate marketing/production problems
iv. Check basic objectives, development budget and planning
v. Evaluate performance specification as needed

7. Production Development
i. Create production design
ii, Carry out production design documentation
iii. Construct technical, user and market trials
iv. Build pre-production prototypes
v. Carry out technical, market field and user tests
vi. Check the trial results and modify the design

8. Production Planning
i. Develop marketing plans
ii. Develop production plans
iii. Draft packaging, user manuals and promotional material
iv. Create tools and jigs

9. Tooling and Market Preparation
i. Build tools and jigs
ii. Develop a trial batch of products from tools
iii. production batch trial test should be done
iv. Create marketing materials online and printed also.

10. Production and Sale
i. Introduce marketing effort
ii. Start production, distribution and sales
iii. Accept market, user, repair and maintenance data
iv.  Recommend 2nd generation designs
v. And also recommend further research

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