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Topic: Strategy

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Best Strategy For New Patented Kitchen Appliances

Posted by shmaya.wallfish on 250 Points
We are developers of innovative small kitchen appliances which combine simplicity and ingenuity. Appliances have registered patents in key European and Asian countries. Working prototypes exist. Complete manufacturing dossiers including detailed drawings and specs exist.

What would be the best strategies to get the products on the world markets?

1. Raise capital to manufacture at sub-contractors and do our own marketing and distribution (web, wholesale, retail)
2. Try to sell the rights to existing brands
3. Manufacture (with sub-contractors) for existing brands - become an OEM

Any advice will be appreciated. Who are the most likely brands to be open for new innovative products from the outside? which markets to focus on at the start?

Thanks.
Shmaya

  • Posted by carrie77 on Moderator
    Please follow the instructions and do not put in HTML tagging.
  • Posted by Moriarty on Accepted
    I would suggest none of the above. The point is this: you don't know if your inventions are wanted. Or not. Just because you think that they are a great idea does not mean anybody else does. Sure, it might catch on. Who is going to take that kind of risk in these risk-averse times?

    Or do you want someone to buy up your patent, only to file it somewhere to gather dust - as they did mine?

    The internet is an amazingly powerful tool for discovering these things. Setting up a display network campaign - perhaps an Adwords/PPC campaign and you will quickly discover if there is any interest. If you are careful you will find who is interested, and you may find some businesses too. Because this sort of thing which won't cost more than a few hundred dollars (if that!) will allow you to speak to the people who really are interested.
  • Posted by mgoodman on Accepted
    Depending on your own strengths and interests (and risk tolerance), any of those strategies can work. The real issue, as Moriarty has pointed out, is whether consumers will want and pay for your products. If they won't, all the strategies will be ineffective. If they will, you can proceed with a carefully crafted marketing plan.

    So your first step is to set up a concept test to see how the target audience responds. You will need that regardless of the strategy you ultimately select. To do this right, you ought to find a professional market researcher. They can guide you through the process.
  • Posted by shmaya.wallfish on Author
    Thanks for the answers so far. How does an Adwords/PPC campaign work?
  • Posted by Moriarty on Member
    Adwords/PPC is relatively easy to do (which is why you should leave it to the professionals, to start with at least!!). There are some good online books by Perry Marshall or you can also try htp://askhowie.com for a good look at what it is and how you should be looking at it. More advanced is Brad Geddes (http://certifiedknowledge.com).

    In essence it is the little advertisements in Google (or that you see in online newspapers - or on this site for that matter). You can determine where they show, how much you want to spend on showing them and how much you want to spend a day. Used with care, you can get lots of fantastic information about the interests of visitors.
  • Posted by carrie77 on Moderator
    Hi Everyone,

    I am closing this question since there hasn't been any activity in 10 days.

    Thanks for participating!
    Carrie (Moderator)

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