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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
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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