Hi, im working with a partner who just developed a innovative HOME/GARDEN "tool" and im just trying to get some marketing ideas going. It is a physical product and we have it in stock currently. Leaning towards the non-young age group.
I have a few already that i think will be a good/great start-up but i would love to hear the experienced product marketer's opinion on BHW. Because i know there are many
Any tips and pointers is 100% appreciated, like any advice given on bhw.Thanks! + to all!
1). You have not given to much detail about the product, and thats fine,
but since you need to be considering scales here, then I reckon you should first of all
file a patent with the patents office of your country.
If this is too expensive for you to do at this time, then simply email yourself a letter stating that this is your product etc....
- NOT A FREE EMAIL ADDRESS, use one of your domain emails.
People do not realise this, but by doing this simple step, you can legally claim ownership if it is disputed in the future - DO IT NOW.
Also, on this point, do not use eg gmail, because again, ironically, if Google wanted to, they could claim ownership,
simply because it was contained n their emails
so beware!!!
2). Have you considered getting funding, from industry leaders, government backing, banks, established partnerships etc....
because if you need to go large, then you need to get into this zone as well in your planning.
3). You can always beta test in local stores, supermarkets or whatever is the local DIY stores equivalent in your country.
This can help with your presentation when you are ready to scale up (proof of figures / profit margins / production management etc...)
but again be carefull that a competitor doesnt steal your ideas.
4). To answer your question effectively (about marketing), this is all about budgeting,
in other words about planning to sell X units at Y cost price for a profit of Z,
and these can only be answered by considering these questions.....
are you the sole creator? will you be a reseller? what is the mark up / proft margin? will you use a middle man for distribution? who does the deliveries?
will a local small / medium enterprise etc....operate on a sale or return basis? of not , why not?
Finally, if you are just hoping to sell a few units initially, just plan a campaign,
for example by doing posters, leaflet distribution, local press advertisements,
press releases, advertorials, renting out space in a presentation stand at local megastores, shopping malls etc...
There are too many variables to answer your question with the information supplied,
but if you need any specific advice on how to start, send me a PM and I will gladly advise.
Good Luck
