HOW TO GET YOUR PRODUCT TO MARKET
There are generally 2 main routes to get your product or idea to market and these are:
This is where another company that you sign a contract with, takes on all of the manufacturing, distribution, marketing and sales activities in return for your receiving a percentage of the profits.
This is where you take on all of the manufacturing, distribution, marketing and sales activities, whether it involves outsourcing some or all of it or doing so in-house.
The decision on how to get your product or idea to market will, of course, be determined by the availability of funding and/or being able to secure funding. However, time is of the essence and if you have sufficient funding and time available, you have the capability to launch a business and watch it flourish. Making such a decision at the start of the process does not necessarily have to be set in stone as it is usually possible to revert to the alternative route in order to make progress. It need not be an "either - or" situation when a combination of the two is available to you.
Whilst selling your ideas/plans to a third party before they have reached fruition may be an option, this course of action should be seen as a last resort in view of the fact that you will already have invested a substantial amount of time and resources which, without a proven sales record or an obvious need from potential customers, you will be unable to realise the full market value of your product or idea.
Conversely, being able to demonstrate a proven sales record through a successful marketing campaign will be more financially rewarding and will far outweigh any lump sum payment received from the sale of your idea at the development stage.
Whilst advice can be sought from consultants, who may have a wealth of knowledge, there is no set method of developing and directing a business. Each "inventor" will need to consider what is available to them at the time and determine their own marketing pathway according to their own specific set of circumstances.
PRODUCT TO MARKET AND INNOVATION
If you are finding it difficult to bring new innovation to market, whether it be equipment, chemical or technology, Award Consultancy can guide you through the process within complex markets where food safety is paramount.
Award Consultancy is working with many businesses that have exciting new ideas to offer to the world.
Some people are amazing at inventing, producing and discovering the next new best thing. However, they might not know how to take it to market. If you are one of those people and you either need a little or a lot of help to open doors and see your plan come to fruition, we are here to hold your hand and guide you through the process. With tried and tested experience and a wealth of contacts, we will do all that we can to work with you and to promote your business, products or ideas.