The well-made positioning of the product on the market is the key to success. How to find a niche market and build a product that will be the next hit? Today, we would like to tell you more about Beltrade’s offer within which we build great products with help of our partners. Let us take you on a little tour of the process that we usually got through during our design process and then realisation.

1. Define a problem 

Classics are always a good idea, and this rule is definitely classic. A rule that is very popular among start ups and new technological companies should be as popular among grown-up businesses as among the younger ones. Before making a product focus on defining a problem or challenge that you want to solve. If there are no problems — define what are the chances and opportunities of the market you want to enter.

2. Define a target group 

While creating a product you always need to have your customer in mind. Who is he? What are his needs, problems, aspirations? Where is he from? Those questions will help you not only to define what features of your product will be most important ones, but also — to develop your concept and make it even better.

3. Market size 

Do you need to convince the board to accept your concept? Tell them about the size of the market you want to enter. Analyse how big are the chances for income and also — define what are the opportunities of developing a product in the future. For example — a smart fridge might be analysing food the user keep inside on the first step, but in the future — it might also suggest and recommend to the user what he should eat more or less for a better diet.

4. Define a product 

You have already described market, target and problem. Fit those three, show the connections and propose a solution that will be a complete answer. Explain exactly why your solution is the best and can impact its market niche.

5. Plan the execution as smooth as possible 

The last step is probably the most demanding one. The rule is: an idea is not worth a penny if there is no good execution. Choose your components providers, plan the production line, certify your products and make sure everything will go in a right direction. Also: always have a plan B, on each step of the execution. We have already prepared a number of articles that will be helpful in making your execution successful, you can read more about in following links:

  1. Essentials for providing continuity of production
  2. Recommendations for reducing the costs of certifying smart home appliances
  3. How to choose your partner company?

 6. Choose your team and partners wisely

Knowing the market and also experience in producing similar products is more than important, it’s like gold dust — everybody wants it, only a few get it. That’s why we encourage you to choose a partner, that will be there on each step of the production with you, that will make sure you have a solution for everything, that will know more about your components providers than themselves. Choose Beltrade and be calm for the success of your product!