I think Kevin brings up a good point that many consumer do not realize how difficult it is to bring a new product to the market. It takes a lot of time and effort for a new product to be launched. A lot goes into it, financially with cost control, plans and designs are drawn out through methods of quality control. I product is put through a series of tests that make sure it is usable or not. Then market research is done, is there really a need or desire for this product? Where should it be distributed? What is the target market? Time is the number one factor in this equation. It takes time for a new product to be released and distributed. There are so many great ideas that simply go to waste. I watch the show "Shark Tank" occasionally and I see all these wild ideas unfold right in front of me and I think to myself, wow this is incredible. I would invest in a lot of companies if I had the capital to launch new products. Some ideas may be a fail but others are genius that do not see it to their full potential. Consumers need to realize that it took a lot for that product to hit shelves then and there. It took a large thought process, a whole team of experts took the time to focus on this product and what to do to launch it. How successful a product does is determined on how much of the product a consumer purchases and what they may be willing to spend. Look at Razor scooters, a few years back young consumer had to spend over $100 dollars on a cheap metal object with two plastic wheels that broke easily. But yet, everyone had to have it. It was the latest things because the engineers that designed it knew that kids would love it and the market research showed that it would do well.
How do you feel about launching your own product? Would you be nervous?
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