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Product Development Intellectual Property Guidance

Global Eagle Company has been assisting client’s with commercializing their product, process and service ideas for over 30 years.  Our team of experienced experts can guide an inexperience business entrepreneur, inventor our company through the commercialization process. 

Below is an overview for your consideration.  Please call for further discussion on your new product, process, or service idea.

  1. Idea Generation is often called the “NPD” of the NPD process.
    • Ideas for new products can be obtained from basic research using a SWOT Analysis (Strengths, Weaknesses, Opportunities & Threats). Market and consumer trends, company’s R&D department, competitors, focus groups, employees, salespeople, corporate spies, trade shows, or ethnographic discovery methods (searching for user patterns and habits) may also be used to get an insight into new product lines or product features.
    • Lots of ideas are generated about the new product. Out of these ideas many are implemented. The ideas are generated in many forms. Many reasons are responsible for generation of an idea.
    • Idea Generation or Brainstorming of new product, service, or store concepts – idea generation techniques can begin when you have done your OPPORTUNITY ANALYSIS to support your ideas in the Idea Screening Phase (shown in the next development step).
  2. Idea Screening
    • The object is to eliminate unsound concepts prior to devoting resources to them.
    • The screeners should ask several questions:
      • Will the customer in the target market benefit from the product?
      • What is the size and growth forecasts of the market segment / target market?
      • What is the current or expected competitive pressure for the product idea?
      • What are the industry sales and market trends the product idea is based on?
      • Is it technically feasible to manufacture the product?
      • Will the product be profitable when manufactured and delivered to the customer at the target price?
  3. Idea Development and Testing
    • Develop the marketing and engineering details
      • Investigate intellectual property issues and search patent databases
      • Who is the target market and who is the decision maker in the purchasing process?
      • What product benefits and features must the product incorporate to meet target market needs?
      • What benefits will the product provide?
      • How will consumers react to the product?
      • How will the product be produced most cost effectively?
      • Prove feasibility through virtual computer aided rendering and or 3D printing, or rapid prototyping.
      • What will it cost to produce it?
      • How will the R&D, development, tooling, supply chain, equipment, packaging, systems, personnel and intellectual property protection be funded?
    • Protect your intellectual property using a methodical combination of agreements, non-circumvention-non-disclosure and patents.
    • Market testing the idea may involve asking a number of prospective customers to evaluate the idea – how you protect your IP during this process is key.
    • Evaluating all barriers to market entry is very important. If the barrier is too low, then many competitors can enter quickly.  If the barrier is too high, then cost, investment and timing may be a drawback.
  4. Business Analysis
    • Estimate the complete cost analysis for development, design, prototyping, test planning, testing, results counter-measures, final design validation to meet all customer, design, regulatory and other requirements, production tooling, capital to produce, personnel, production control, inventory, logistics, branding, packaging and labeling
    • Estimate likely selling price based upon competition and customer feedback
    • Estimate sales volume based upon size of market and such tools as the
    • Develop a detailed annual operating plan (AOP) to include realistic projections for sales, cost of goods, SG&A, direct labor an overhead and profit.
    • Estimate profitability and break-even point.
    • Develop a detailed marketing strategy (200 step points to consider)
    • Develop a sales strategy connected to support the marketing strategy
    • Set budgets and timelines with key milestone dates for all activities and ensure proper funding
  5. Beta Testing and Market Testing
    • Produce a physical prototype and mock up  
    • Test the product and its packaging to meet all customer, industry, government regulations and application requirements
    • Conduct focus group customer interviews or introduce at trade show
    • Make design adjustments where necessary
    • Produce an initial run of the product and sell it in a test market area to determine customer acceptance and feedback for improvement
  6. Technical Implementation
    • New program initiation
    • Finalize Quality management system
    • Resource estimation
    • Requirement publication
    • Publish technical communications such as data sheets
    • Engineering operations planning
    • Department scheduling
    • Supplier collaboration
    • Logistics plan
    • Resource plan publication
    • Program review and monitoring
    • Contingencies – what-if planning
    • Final funding and resource leveling
  7. Commercialization (often considered post-NPD)
    • Launch the product
    • Produce and place advertisements and other promotions
    • Fill the distribution pipeline with product
    • Critical path analysis is most useful at this stage
  8. New Product Pricing
    • Impact of new product on the entire product portfolio
    • Value Analysis (internal & external)
    • Competition and alternative competitive technologies
    • Differing value segments (price, value and need)
    • Product Costs (fixed & variable)
    • Forecast of unit volumes, revenue, and profit using your AOP

 

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