How to Invent and Develop a New Product? | The Cost of Building a BRAND
How to manufacture a product? How do I build a brand? So many questions answered in this video. From injection molding to talking about why retailers will not sell your product. Avoid the pitfalls.
Are you interested in developing new products but don't know where to start? In this video, we'll walk you through the process of creating a new product from start to finish. We'll cover ideation, market research, prototyping, testing, and launch.
First, we'll discuss how to come up with product ideas and how to evaluate their potential success in the market. Then, we'll dive into market research and how to gather valuable insights from potential customers.
Next, we'll show you how to create prototypes and test them to ensure your product meets your desired specifications. We'll also cover the importance of iterating on your prototypes until you have a final product that meets your customers' needs.
Finally, we'll discuss how to launch your new product and create a marketing plan to reach your target audience. Why is shipping so expensive and how can we avoid these costs.
Whether you're an entrepreneur looking to start a new business or a product manager at an established company, this video will provide valuable insights into the product development process. Don't miss out on this comprehensive guide to developing new products!
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i started working on a product during the pandemic, and when i was connected to a plastics/molding company, they essentially told me you will need to lineup sales before you can even try to make your product OR have independent funding of 50K + for the just the molds. I considered doing crowd funding, but without a team to complete the orders (even more costs) youre bound to fail on the execution. So my best advice to go with this video is BUILD A TEAM of trustworthy and dependable people that believe in what youre trying to make and are willing to work with the promise of money in the future, because you CANNOT do all of the work yourself. ie something like a startup. Being a true inventor/entrepreneur in this day and age is difficult. Btw researching plastics manufacturing is how i came upon this channel.
@PlasconPlastics
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Hey thanks so much for the insightful comment! Totally agree with you!
Great info! Thanks for sharing! I learned a lot, especially about the unexpected high cost of molds.
Great video, thanks for making it. I have indirect experience with this, my cousin owns a small company that makes plastic food containers, picture tupperware, that's what his company does. The costs of the molds for something like this product is huge, he's said that 1 single mold was $150000 and the company makes many sizes of container. I should ask him how long the molds last or how many boxes can be made from a single mold. You mention shipping, for him he's had countless issues with deliveries. One time, he had a delivery completely disappear, and it took the trucking company months to admit what happened, what happened was that the driver had ditched the trailer and stole the truck. He was lucky, the trucking company paid for the lost stock, and the client was understanding that the delivery was delayed. He had enough stock to send a new delivery right away. I'm not sure what kind of mold they use, injection or blow molding. Edited here, I just watched your other video about different types, I bet he's using the thermalforming type after you mentioned the containers
This video goes over developing a NEW product. The general focus is understanding your business philosophy before you spend thousands designing a product. If you like this video please let us know. If you want a video on a more specific topic or product category, please comment. Please view our channel for everything about plastic. - Tristan 0:01 | Intro 1:10 | Types of Products 5:15 | Pricing & Thinking About Competition 7:40 | Do You Have a Good Idea? 8:50 | Tasks to Consider Before Starting 10:47 | Your FIRST Online Sale (ebay example) 14:45 | Product Design (injection molding focused) 16:45 | Engineering with Injection Molding 18:18 | Market Research and Kickstarter 19:49 | The REAL Cost of Manufacturing 23:25 | Example: Hush Pads (Packaging and Shipping Considerations) 26:55 | Shipping. Shipping. Shipping. Understanding Your Margins! 27:51 | Retailers Dilemma - Who are your REAL Customers (people or stores) 31:11 | Example: Wrap N Save - Case Study
Good video thanks ❤
This is an excellent video
This was very informative. Thank you.
for your wrap n save have you thought of bundling it up with a painting kit?
This made me think. Thanks.
Great video learned alot
If the paint brush sellers paired their brushes with a square of that Wrap and Save, there'd be more salss, maybe?
How can you get a product made? I went to a few refrigerator people and they turned me down. Can I take used refrigerators and change them to my idea? It would have their name on it and each one would be "unique". Also, I saw a video where a family had a refrigerator where the circular door lifted up in the center and it held all the food leaving the refrigeration below. That's cool too. But my idea is simpler however I don't have the skills to mess with the coil. How can I get individual parts for a refrigerator so I can put it together the way I want?
Its called design for manufacture ...
Print really big on the package "Don't buy ANOTHER brush!" Then quick cost comparison of the average brush to the cost of this! If it is equal $ to buying ONE brush, they will buy it! Then it says this will preserve "over 15 brushes" it's a no brainer. Everyone hates cleaning brushes, also preserves pans, rollers, etc...
🙋 'PromoSM'