CAN YOU RESPOND TO THIS STUDENT 50-100 WORDS

The steps I would use in product selection and design would be to look at current and present data regarding my category. See if the market is over saturated or if there are opportunities. Test the product to get an idea if its going to be well received. Have a need for the new product is also helpful. The first rough design would be made by me in order to get it patent or copy-write.

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To avoid overstretching my financial resources I would manufacture in the beginning then expand as the demands grows. It’s important to establish an inexpensive cost but reliable source for the rough materials. The logistics of shipping and receiving product should be establish in the begging phase of launching my new product.

I would start off on the on the internet an insure to have the proper internet protection in place to protect the customer and my information. If I decided to have a retail store there will be an ISP and other required POS systems to protect the customers information.

My business plan will address details such as the product cost sell. Projected start up cost to include equipment ISP, POS, cash register and the cost of operating software. Sales and earning projects and the marketing required to achieve these results. Pricing would be based on the competition price and their quality of the same like product with my sales and cost of goods in mind. My business model would be more focused on the internet sales and selling my new idea to the major retailer to sell to the customers.