How to Come Up with New Product Ideas?
Essentially, products are created to solve a problem for specific clientele. Do you wish to come up with a product idea? Then you need to start from the tail end- what problem do you intend to solve?
It does not have to be products sellable offline only. These ideas apply when looking for products to sell online as well. To come up with new product ideas, let us look at ways that can help you generate excellent solutions to existing problems.
Without an existing problem, it is difficult to come up with a product idea to offer as a solution. Take for instance a product like Back Stretching Machine. The identified problem could have been back pain. Back Stretching Machine was therefore a product idea that was to provide solutions to the aforementioned.
Is There A Current Hot Trend In The Market?
You probably have identified a problem and come up with an idea on how to solve it. But you need to find out what is trending in the market.
What are people associating with currently? What are they talking about more often?
Once you answer these simple questions you will be able to tailor-make your product idea to the needs of the clientele whose problems you are trying to solve.
Is There Such A Product Already Existing In The Market?
Then add to it. Identify products that would complement its functions. For instance, if there exists machine that is used to do away with back pain, how about coming up with The Ultimate Back Stretcher that can be help to reduce back arthritis?
That’s an amazing new product idea right?
Is The Already Existing Product Not Good Enough?
Sometimes, you will find products in the market that try to the solve problems you have already identified. You don’t have to come up with such a product again. Why not improve on the already existing product to come up with a completely new product idea?
This would be brilliant since you’d identify the existing product’s weaknesses and improve on them, giving you a stronger, effective all new product!
What Is Your Target Niche?
Understanding a certain niche will help you determine the best products to offer. Is it possible that the current product does not appeal to your target niche? Then how about creating a new niche for the current product? Or creating a whole new product for your current niche? What I’m saying is, the needs of your niche will drive you and give you a whole new product idea.
You don’t want to end up with products that you are passionate about but do not appeal to the wider market.
What Are Your Current Customers Asking For?
Finally, this might be the most convenient way of coming up with a new product idea. Simply ask your current customers what they are looking for. Are they satisfied? What more do they wish to have? Would they like to have anything changed?
From their response you will get a good idea on which new product to come up with. Whichever way, keep moving. Let those ideas flow. And keep generating new products!