Developing a product strategy is complex, including consideration for research, design, engineering, marketing, manufacturing, shipping, warehousing, end user feedback, and much more. Marche International can help evaluate the complexities and define the right business model for your product business.
Setting the right goals and knowing the processes involved in achieving them is critical to a successful product development endeavor. We have over 10 years of experience in product design, engineering, raising capital, outsourcing, manufacturing and working with marketing teams. We know what a winning product strategy looks like and will partner with you to create a plan for success.
Marche International Product Strategy Deliverables
- Initial research
- Project specifications and goals
- Project timelines
- Sales Sheets
- Cost / risk estimates
- Business plans
- Product portfolios
- Patent advice and filing
- Investor info guides
- Assistance with investor procedures and legality
- Assistance with start-up business legality
There is no standard template for product strategy. Each project is unique. Here are a few strategies we use for our customers. Please note that these strategies are not mutually exclusive.
Minimal Risk Product Development
Developing new product ideas can be a difficult and risky endeavor. Therefore, you need a strategy to combat the risks. The goal is to minimize personal risk by providing investors or business partners with evidence that the product has commercial potential. This usually involves limiting your focus to developing a prototype along with a presentation or business plan showing a sizable market, a strategy to reach that market, unit pricing estimates, and manufacturing cost estimates. The above tasks can be implemented inexpensively when compared to putting up capital for manufacturing and marketing costs.
Marche International has a strong track record for getting our clients capitalized. Our strong product development team combined with our experience in manufacturing and knowledge of marketing helps us effectively create and communicate solid product strategies to investors.
Build a brand
Building a brand is contingent on a commercially successful product. It is much easier when you have a product line with multiple, yet similar products. It is a good idea to source a number of existing products to compliment a proprietary, newly developed product.Building a brand can be very expensive due to the cost of logos, packaging, brand messaging, internet marketing, and customer service. If successful, having a reliable brand is the most valued of all product development goals.
Source Existing Products in Small Quantities
If you are involved in retail or online product sales, you’re always looking for the perfect products for your customers. A common strategy for sourcing products is purchasing only a small number of products as ‘test inventory’ with the hope that your customers will demand more inventory. Manufacturers are usually wary of small order quantities, but might make accommodations for reputable customers.
Please see our ‘Sourcing Direct’ page for more information on how we can get the right quantity at the right price.
Re-branding Existing Products
Many manufacturers are willing to screen-print logos or allow for custom colors. This provides an opportunity to add value to the products and your brand. See sourcing direct.
Marche International’s designers can quickly help you figure out the best logo placement and product color choices. We can provide photorealistic renderings and cost estimates to help you make the right branding decisions.