Important Terms to Know About Product Development and Marketing
Product development and marketing is crucial in today’s world. Just go to any store and check out the shelves. What lures you in? Probably the bold, vibrant products with catchy slogans and top notch design. You can hire the services of marketing firms to handle your product development and marketing needs. They sell products through commercials, print ads, slogans and jingles, all meant to reel in customers. Engineers, graphic designers, industrial designers, marketers and artists may all work for product development and marketing firms. Check out these important terms:
Concept Generation: The process of fostering creativity in business development to come up with facts, ideas and solutions, but it’s more than just brainstorming. Play and exploration, as well as free association, are required to explore new possibilities.
Industrial Design: First popular in the early 1900s when consumer products were industrialized, this refers to a combination of applied art and science. It’s geared to improving the aesthetics, marketability, usability and production of a product, with professionals working closely with marketers and engineers.
Prototype: This refers to a preliminary model of an object, achieved through group brainstorming sessions or workshops. This is one of the first steps of design, a process for coming up with this prototype to pitch how the object will work, as well as outline its benefits.
Product Lifecycle: A product’s life span within the market place, specifically in regards to costs and sales. Because every product has a limited lifecycle, each product has different marketing, manufacturing and financing needs throughout each stage.
When companies have new products or processes in mind, they often turn to product development and marketing experts to help them make a strategy for making the product its best and finding a way to sell it to consumers. You can find many product development and marketing strategy firms listed in your online directory. Some people find that there are so many that it is difficult for them to determine which consultants are right for them. If you follow these guidelines, though, you should be able to determine which companies can help you manage the development and marketing of your new products. When you first contact the company, you will want to determine how much experience they have by asking them how long they have been in business. Those with several years of experience should know the kinds of quality innovations that consumers want and can help you make a plan to launch your products. Ask the companies if they have engineers that can help you develop your concept with strategy and design method software systems, research tools, and consumer models to take steps to reduce risk for your organization and determine how many job positions you need to fill. Find out how long the development and marketing process is for new products so that your corporate workshop's engineers will know when to expect a report. Ask the companies if they have reference lists so that you can talk to their other clients about the marketing and development management services they got. Ask them for written price quotes for the services that you need to so that you can compare the prices easily.