How To Guarantee Return On Investment When Designing A New Product

“Will my product get to market?” This is every client’s initial question, after all, it’s their reason for wanting to create the product in the first place. Only products within the market generate revenue. Whether their product will successfully reach the market however, depends on various factors…

Is there a demand for the product? What is its unique selling proposition? Do they have a budget? The effectiveness of its marketing and distribution strategies do have a big part to play, along with the competitive landscape. Yet a significant factor, is the ability to deliver a high-quality product, that meets customer needs and expectations. All of the above need to be given substantial consideration, because a large proportion of products will not, unfortunately make it to market.

That said, working with a product design consultancy such as ITERATE, can certainly increase companies and individual’s chances of success. Here at ITERATE we ensure that each product is well-designed, user-friendly, innovative and aligns with market needs. Our team of skilled engineers bring a range of expertise and experience to the table, who can offer fresh perspectives and knowledge to design challenges. They thrive on delivering high quality outcomes and satisfying our clients. Many concept ideas that arrive at our door are now being sold as reputable products to customers worldwide today.

There are a few things we recommend our clients do prior to approaching us, which will in addition improve their chances of reaching the market successfully. For example, possessing a well-defined product concept or idea and having conducted thorough market research, will ensure there is a gap for the product. Additionally, it’s important to understand your project goals, your target audience and particularly your budget, for designing a product can be a costly process. Carrying out the necessary background research before approaching a design consultancy, means you can hit the ground running when you do decide to reach out.

The only honest answer we can offer our clients to the question, “will it get to market?” is we will design your product to be the best version of itself. There are many factors to consider, but what we can assure you at ITERATE is that our trademarked product development pathway will walk you through a series of design stages and decision gates – considerately transforming your vision into a product that people will want to buy.

Have you got any projects in the pipeline that require design expertise? If you would like to arrange a chat, do get in touch.

design@iterate-uk.com

Jenni Manning