Continued from page 1
2. Market Development: It is most important to understand your market before embarking on
development of your product. If you customers are not fully understood, you may develop a product that few people want, or create a resource that isn’t profitable. This should be determined at
initial stages of
project. After your market is understood, focus resources on creating a product to suit
market. However, be sure that you continually update your understanding of your market. When nearing completion of
development phase of
project, start allocating resources into development of
market tools. If this is an online product, then creation of an effective web site is necessary. Develop
sales tools necessary to sell
product, and create a step by step plan on how you will sell this product to your customers.
3. Beta Testing: Upon completion of
development stage of
project, look for ways to beta test
product in your chosen market. You may choose a limited product release, or partner with some target customers in order to get feedback on
product. Beta Testing is effective in determining whether
product needs to be modified. It is also a great way to get initial testimonials to be used in future marketing.
4. Product Release: Release
product for sale. That means begin distributing
product to customers, selling online, promoting through sales people, and implementing your marketing plan. This phase is ongoing through
life of
product and is where
success of your initial investment is measured.
Through appropriate planning and resource allocation, your product can effectively be introduced into
marketplace with exceptional results and outstanding profits.
+++++++++++++++++++++++++++++ Barrett Niehus is
product manager for www.freetrainer.com IPWare Real Estate Investment Analysis software and has worked extensively in both project management and product management for years. Download your free demo copy of IP Ware real estate investment analysis software by clicking here and submitting
form: http://www.freetrainer.com/demo.htm?at
Save $40.00 on IPCommercial through
link below: http://www.glocart.com/cgi-bin/shop/buy.cgi? shopid=689&indent=24433&productid=IP

Barrett Niehus is the product manager for www.freetrainer.com IPWare Real Estate Investment Analysis software and has worked extensively in both project management and product management for years. Download your free demo copy of IP Ware real estate investment analysis software by clicking here and submitting the form: http://www.freetrainer.com/demo.htm?at