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Q: If IRI helps me to patent and develop my product, how can I be sure that it will be successful in the marketplace? |
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A: There are no guarantees because the buying public can be very fickle. Here are two sets of guidelines that will help you to answer that question: Guideline 1: The following is a check list to analyze and evaluate the potential of proposed technology or a patent to become a commercial success. Examples are color TVs, jet planes, VCRs, PCs etc. - Does it work?
- Is it protectable?
- Is there a demonstrated predecessor need?
- Is it sufficiently better than alternatives?
- Will it be used?
- Are there potentially better future competitive alternatives?
Guideline 2: Below are the twelve characteristics of a successful new consumer product taken from guidelines published by the J.C. Penney Company for their buyers. - The new product must be an innovative solution to a problem, not simply a solution. It must clearly solve some problem better than any other solution.
- The new product must be easily understood. Do not try to educate the consumer.
- The new product must be obvious. Its attributes must be self-evident. It cannot require marketing to distinguish it from its competition.
- The new product must be low technology. It must sell without a warranty.
- The product must utilize simple materials and processes. There must be low tooling investment, and it must work.
- The product must be at the right price point. It must qualify as an impulse purchase or gift and retail for $39.95 or less.
- The new product must convey consumer satisfaction. It must not be too faddish or temporary.
- The product must be positive. It cannot be destructive, unsafe, harmful to the environment, sexist and such.
- The product must be freestanding. It must be independent; it cannot e part of a system. It cannot be tied to the success of another product.
- The new product must have an established distribution network. It must have a known retail or catalog source for availability.
- The product must be desirable. It should be irresistible. It can be a "need" but must be a "want" as well.
- The new product should not appeal to everyone. If it does, there is danger that it will appeal to no one.
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