(c) 2004 Charles Kangethe -------------------------

In this Article we look at third competitive advantage of successful Internet Marketers - Creating Products.

The main problem with creating products is not in build process, but rather in "Ideas Process."

Product Ideas Come From NEEDS --------------------------------

* New Knowledge

Research at centres of learning gives rise to new theories that provide a wealth of ideas, for new products.

* Emulation

Modification and copying of existing products and services is most common source of new ideas for products.

* Ego

Most inventors of products have big ego's that are only satisfied by "creative process," from invention to production.

* Difficulty

Hardship in terms of effort required to do any work or activity is a rich source of new ideas for products.

* Scarcity

Shortages of necessities and luxuries very often give rise to new ways and products to overcome shortages.

Product Development --------------------

Products can be developed in one of two ways :

* Product Centric Approach

This is where idea and product are drivers of process. Prototypes and initial production runs are completed before research to find out whether or not product has a chance of commercial success.

* Market Centric Approach

In this approach Market is driver.

It focuses on identifying clear market needs and then finding very specific products to satisfy those needs.

With this approach you know your product will succeed before you commit money to production process.

The Research -------------

The two main purposes of research are :

* Technical Viability

In this step you analyse process and cost of manufacture.

The aim is to find an answer to question - Can product be made in commercial quantities for reasonable cost ?

* Commercial Viability

This step determines likelihood of commercial success when product hits shelves. You determine how much competitor products sell for and expected return on investment.

A Practical Exercise In Creating Your Own Product ------------------------------------------------

Step #1 - Developing NEEDS

Decide on which NEEDS you want to create a product for. For this exercise we will use Difficulty.

Step #2a - Idea Development Using a Market Centric Approach :

Using a directory of Internet Newsgroups join a few groups and lurk. Understand group's purpose and etiquette, and when you feel comfortable post a simple question. For instance :

=>

Hi Forum

I am doing some research and would like to know what is single biggest difficulty you have with x ?

Name

<=

Depending on level of activity on group you should get back one or more ideas to work with.

This is market research in a basic form and can be made more sophisticated depending on how much time and money you want to throw at research.

Step #2b - Idea Development Using a Product Centric Approach :

Think about your own or someone else's daily activities in and out of work.

What single task is most difficult, repetitive, boring or uninteresting ?

Here are a few high level ideas :