Flag This Item
Uploaded by: euinvest100 on Jun 3, 2012
Darwin Horan- How to Generate New Commercial Product Ideas
Hold a meeting with a wide range of employees. Small businesses can use all of the employees, while larger businesses should have one or two employees from different groups for representation. Ideas can come from unlikely sources, and having several people throw around potential ideas can make it easier to generate a new product idea.
Set guidelines for the product. The guidelines take human wants and needs that the company or business focuses on, and bases the ideas around those needs. For example, a new commercial product might focus on the notion of beauty.
Talk about potential ideas that focus on the guideline. For example, if using beauty as the guideline, throw around the type of products that might sell, and what the product should incorporate. Products can range from anti-aging to eliminating beauty problems like acne to face washes with nice smells. Debate product ideas at the meeting, and get input from everyone. This provides a broader perspective for ideas.
Determine if the product is possible. In the case of beauty products, making the product is usually possible. There are product ideas that might not be possible for a business to develop or make. For example, a hovering skateboard might not be a possible product because the technology is not yet available to develop the product; and even if the company made the product, the cost is too high for practically developing it for commercial sales. Always consider whether the product ideas are possible, practical and can be made for appropriate cost.
Select a few different ideas to work with. When generating the ideas for the potential new products, always pick more than one idea. This ensures that even if the first idea was not practical during development, the next idea might work out.