All the E-commerce business leads should be completely familiar with the art of bringing an entirely new product or a service to the public eye, a process called product development. The product you are selling could be anything from the consumer goods, to even the internet software or for that matter anything at all.
The key stages of new product development mainly include some of these that are – idea, research, design, test, analysis, and then finally launch.
It is noted that few people commence with simple ideas that are based on a product, which is already existing in the market while the other ones are trying to become as E-commerce service providers call it – “business disrupters.” Many of the leading manufacturers might dedicate the entire set of departments that focus wholly on the fact that how could they be the next big thing in the marketplace like Amazon and Flipkart.
An organization or a company may have a varied number of ideas for a new product or a service, but at a time when it has selected the best of them among all the other choices – The immediate next step should be to start researching about its market. This will help them to what about what kind of demand is there in the market for the product they are willing to come up with.
Besides, they can understand the specific features need to be grown to meet the best needs of the potential market they are planning to hit.
After the process of research is done, the later step should be the development of the product in the way it is demanded by the masses. Prototypes or the samples must be modified through distinguished as well as the design and manufacturing stages so that the final product could be developed quickly that the customers shall be eager to buy.
On the other hand, the process of testing should not be ignored. Before the product or the service is launched and is ready to be sold to the public – the developer spends a lot of money on its production as well as its promotion. Most of the companies like the Amazon product listing tend to test the product that is new with a small group of real consumers to know if it is good and worthy of the masses or needs changes.
This will help in making sure that they have a viable and profitable product, and that no changes are needed before launching the product to on E-commerce portals.
Looking at the feedback from consumer testing enables the manufacturer to make any necessary changes to the product, and decide how they are going to launch it to the market. With a piece of information from the real customers, it will be much easier to make a varied number of strategic decisions that might be of utmost importance to the product’s success chart, including things like price setting, and also how the product will be launched and marketed.