By Stephanie Goldman

Everyday the market is becoming more and more flooded with various products and services. These demands have reached all time highs due to the pandemic and the amount of people working from home. It can be quite the challenge to create a successful product or service that sells and adds value to the consumer’s daily life.

This pandemic literally crashed the stock market in one day! However, through creative marketing strategies and also fulfilling consumers' needs, other businesses have skyrocketed! Zoom, for instance, had its stock increase about 22% in a single day. Take a look at Amazon. It was able to hire more workers and add to the workforce. These examples show us that there is a way to be successful creating a product, so in this post, we will discuss the process of creating a product, how to create a need for a product, and overcoming the challenges of marketing a product to be successful. 

Process of Creating a Product

Once you have a product idea in mind, you can then focus on what will make the product unique.A product can be an actual item or service that you provide. The uniqueness can be in the form of the service provided with the product, the unique way the product is marketed, or even unique features to an existing product.

Do your research! This is critical in the process of creating a product. If you are starting with a new invention, research the value that will be given to the consumer. Create your business plan and begin to create a flow of steps in the process from start to finish that you will revisit often to make sure that goals of the product or service are met. Think of this more as a wheel that you will continually revisit many steps in the flow. Make sure to plan each and every step all out and create your prototype, then get started with the supply chain. The supply chain is a plan in itself, and a very important detail that should not be overlooked. How are you going to get the goods to create and how will you fulfill the need? 

 It is very important to think  about how your product is going to uniquely meet the needs of the consumer and combine this into a marketing strategy. This should be reflected in everything you do throughout the process. 

Even if you are not inventing a new product, do your research and determine the answer to these two questions:

• How are you going to make your product stand out differently from others?
• Can you do something no one else can?

A service will still have a tangible part: a website, a link, a brochure...the process of creating a product does not change. Also, make sure you are representing your values. Be honest and have integrity with the product you are planning to offer and have these values  interwoven into the flow of the process. 

Create a Need for a Product 

It is vital to make sure the usefulness is obvious and evident  when you are offering something unique. It would be to your utmost advantage to test this on your friends, family, colleagues to make sure the usefulness is easily recognized. 

Like with everything, always remember to keep it simple, not overcomplicating and being too elaborate. Consumers need answers for their problems, but they can’t quite identify what they need. Make sure that this is addressed in the usefulness of your product and also double check on your target audience to make sure you are addressing the concerns correctly. Your consumer has a need to fix their problem so you are showing them how your product fixes it. It is also very beneficial if it solves the problem and is affordable. This creates the need to save money. Does it reduce the time spent? This creates the need for time-saving.

When you create a need for a product, it is crucial that you educate your consumer on your product. This will help your audience to understand how the product benefits the problem and also will add value. Be honest and upfront when making promises on how the product will help and provide solutions. There is always something that a consumer wants or needs to get from you whether it is a product or the service you are offering. 

Challenges of Marketing a Product

Marketing is, of course, the process in which strategic communication promotes and sells products or services. The challenges of marketing a product are going to be there, but do not be afraid of failure! You have successfully worked out so much of the challenge in the previous step, when you began to create a need for a product!

Your brand's name is often the first element of your product or service that consumers will come across. This can pose a challenge in marketing, because it is important that the name is unique and adds to the value. This will enhance the marketing by making sure it resonates with your target audience.It is critical that you start off with a good name that is not confusing and will not distract from the usefulness. 

Also, to market your unique product or service make sure to thoroughly explain the way the product will be beneficial from the consumer’s point of view and remember to be honest and genuine. 

The process of creating a product that is Unique and Marketable relies heavily on our values and how it benefits the consumer. Remember, this is a process and you will need to be honest with yourself and your consumer. Always strive to answer the two questions: How are you going to make your product stand out differently from others? Can you do something no one else can? It is also very beneficial if the product solves a problem and is affordable. Does it save money? Make sure to explain the way the product will be beneficial from the consumer’s point of view. Here at Yoga Specialists we would love to hear from you and how this post may have helped you in your journey.