Bringing your latest electronic product to market

Developing a prototype is not easy and marketing it is a task that can be horrifying. There are many reasons for it. The primary reason being that our entire focus is on making a prototype that can be depended on. We prefer spending time on finding ideal electronic design solutions than invest our energies in marketing the electronic product. If this has been on your mind in the past, it is time to make some modifications in your approach and look for ways in which you can market your electronic product.

Here are some tips that should help you in achieving the objective.

  1. Cut down the cost: To keep the cost on the lower side, you need to use electronic modules or a development kit. Electronic modules are designed to perform specific sub-function. The other option we have here is a development kit that helps in creating an electronic prototype without manufacturing custom printed circuit boards. In this case, you can opt for electronic development kit like Arduino, which is quite popular.
  2. Work on a prototype that has the potential to be sold: While developing an electronic product, you need to be sure that the prototype you’re working on can be sold. For this, you should work on producing small numbers of the product that can be used for market testing and get feedback. Real-market feedback is valuable, and it will give you an insight of what your customers need.
  3. Hybrid prototype: If you are offering a prototype that has advanced features like WiFi, video, GPS, etc., your prototype will be a combination of electronic modules and custom-designed electronics. Modules can be used in implementing some of the advanced functions for the product.

4.    Look at the profitability: Once you are sure about the prototype, there will be a need to get rid of modules and upgrade to a fully custom-circuit. This will help in reducing your per unit cost and increase your profit margins. Taking your electronic prototype overseas might even strike your mind but when it does, make sure that you have worked on the sales volume. If the sales volume isn’t high enough, you’ll not be in a position to justify the upfront costs. With an additional cost, you might end up burdening your shoulders if you are not taking steps to minimize risk. So, be smart and take necessary steps to increase your chance of success and, at the same time, reduce your risk.

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