Searching for New Product Ideas checklist

• Search solutions for existing problems.

Just look around - there are thousands of big and small problems in the world, perhaps at least one of them is "waiting" for your inventiveness to be solved. Create a product that can eliminate one of those problems.

• Design improvements for existing products.

There are thousands of products that are already on the market. Apply your experience and skills to improve one of already existing products.

• Create a package offer of existing products....

The easiest way to create a new product is to create a favorable package offer -take your current product and package it together with cheaper related products. For example sell mobile phone together with case, Bluetooth hands-free device or with mobile provider card.

• Give a new life to an older product.

Identify a product that is no longer on market, but may appear useful today. Redesign and improve it according to modern requirements.

• Research current tendencies.

Study mass media, Internet and life around you to define modern trends, fashion, style of life and expectations. Create a product that supports and promotes current hot themes and trends.

• Study feedbacks from your customers.

Customers are the first people in your business, so do not forget to ask them what kind of product they seek and what they would like to see improved in your current products.

• Set yourself apart from your competitors by creating a new niche.

You can "create new product" by repositioning or re-branding of your current product. You can always say that your product belongs to another niche as far as it is better,bigger, faster, smaller, etc. than products of your competitors.

• Study your personal life and experience.

What products do you seek in your daily activities? What can facilitate your life? What would you like to improve in products around you?

• Research scarcity of goods.

Shortages of necessities and luxuries very often give an opportunity to new ways and products to overcome these shortages. Probably you will offer a proper replacement for scarce product.

• Study new knowledge.

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