November 10, 2016
Bernard Martin of Rapid Production Marketing discussed the steps of how to bring your product to market.
Many attendees approach exhibitors about ideas they have for new products or product improvements. Some of the ideas are really innovative, but the inventors aren't really sure where to begin to take the product to market in our industry. The inventors often feel that since they understand why it's important, everyone else should as well. This discussion focuses on some basic questions and answers about how to sell a product in the manufacturing sector.
Often times it's a matter of the inventor not having any idea who or where the market is.
• Who uses it? Where are they located? Is it used in Aerospace? Medical? Automotive? Are there crossovers to other industry segments?
• How do you want to go to market? Agents? Distributors? Direct sales? OEM's, Catalogs? Online?
• If you use re-ellers like industrial distributors what kind of discounts are you offering to them? Are there going to be additional discounts for stocking or larger quantities? Will you sell direct as well as to wholesale distributors?
• Have you considered what a website costs to develop? What a literature? Do you have a logo? High Resolution art work and photography? What about video? Will you be advertising in industry publications? Which ones? Do you have a budget for any of of this or an idea of what it might cost?
• Who is going to provide customer service? Do you have training materials for the sales force? What trade shows will you be participating in?
These and many more questions are some of the food for thought discussed to encourage more innovation at IMTS and with in the industry.