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Your Invention And Proof Of Marketability
Stewart.paul
Every inventor participating in the manufacturing of his product should invest some time in generating records that prove the marketability of the invention or idea. Information collected during this stage of product development will be invaluable to the inventor once he is ready to license his product or manufacture it himself.
Information in this article is especially valuable if it costs very little to manufacture a product. The strategy here is to give some of your product inventory for free. Let people use your product free of any charge; in return, ask your customers to fill out a questionnaire form. People will be happy to receive something for free and in return will provide you will responses that will help you in evaluating marketability of your invention / idea.
The questionnaire form will consists of questions like these:
-Did you like the product?
-What exactly you liked about the product?
-What exactly you didn't like about the product?
-How would you improve the product?
-What do you consider a fair price for this product?
-Would you choose this product among others?
-If this product didn't exist, what other brand and product would you purchase?
By giving away a free product, you gain valuable opportunity to create a Focus Group Study. The same idea is used by most manufactures before they introduce a new product on the market. By obtaining answers to the above mention questioned, an inventor will have an idea on where he stands in terms of his current marketing position. An inventor should carefully examine people's responses and shouldn't hesitate making changes to original design. After all, if the smaller audience found your invention too confusing or expensive, then in all likelihood the larger audience will reach the same conclusion. By making changes to your product design or re-examining your manufacturing costs (changing to low cost suppliers or making a switch to another material) you are giving yourself a chance to succeed later on and avoid mistakes made my numerous inventors before you. If people responded positively to your invention right away, then you are in a good shape. Carefully compile and store completed questionnaires in a safe place - they will become handy once you are ready to talk to investors and manufactures!
In summary, Focus Group Study responses are a great marketing tool. The responses that people submit to the inventor will serve as a compass, pointing in the proper direction. If the initial responses are positive, then the inventor is in excellent shape. However, if the responses are negative or lukewarm, then it's time to pause and re-think the initial design.
If you are interesting in reading more, please visit that is dedicated in bringing quality information to the inventors all over the globe!
Robert P. Stewart
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