Want Some of This?
Getting Results
Despite what you might think, success is not based on how much
people like your product. Instead, according to Shelia Mello, a
market research expert in Boston, "The crux of the problem is
how strongly people feel about solving their problem." To
Mello, the most important point to learn is what percentage of
potential users feel the new product is essential rather than just
nice to have. "The classification of how much someone likes
something is not really relevant," Mello explains. "It is
a matter of how much they value solving the problem, so that they
will spend money to get it solved or spend money to switch how they
solve it." In Kellar's case, she knew from her research that 25 percent
of mascara users use eyelash curlers. When she was using the
alt.fashion Usenet, she concentrated on how anxious people were to
switch to a new product. She was trying to answer the same question
Mello recommends asking: "Is there a significant number of
people motivated to buy your product?" Inventors often get so caught up with their ideas, which
they've often worked on for years, that they start to believe
they're true experts. This is a big mistake, as inventors
usually don't have the same buying motivation as most
consumers. So if you want to make sure you're spending your
money and time wisely, take time to find out what potential buyers
think of your idea. That small step will stop you from making
costly mistakes, and it will give you the best shot at successfully
introducing the best possible product. | | FOR MORE INFORMATION | | - Customer-Centric Product Definition:
The Key to Great Product Development (Amacon Books) by Shelia Mello
explains the ins and outs of how to find out what customers want
and then give it to them. Although the book draws on market
research techniques from experts at MIT and the University of
Chicago as well as experiences at large companies, its advice will
help inventors and growing businesses produce the right
product.
- The Market Research Tool Box: A
Concise Guide for Beginners (Sage Publications) by Edward F.
McQuarrie, a great resource for both inventors and new marketers,
explains the differences between various research phases such as
market assessment, final go or no-go decisions, and how to
formulate a research plan and assess the results for each
phase.
- Small Biz 911 (www.ndsu.nodak.edu/smallbiz911/main) is a
useful site that explains the main steps inventors need to take to
get their product to market. Areas covered include idea evaluation,
idea assessment, product design based on market research and early
stages of product development.
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Content Continues Below
Don Debelak is a new-business marketing consultant and author
of Think Big: Make Millions From Your Ideas. Send him your
questions at dondebelak34@msn.com. Contact Sources
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