How to Avoid Common Mistake in Idea Marketing
Step 1 - Introduction
When the time comes and you are ready to market your idea, most likely you will turn your attention to large companies for help. After all, you are telling yourself, these huge, large corporations are experienced in invention marketing and will take care of my idea; they have unique domain knowledge and the expertise necessary for me to succeed. Without much ado, you take your idea and knock on the door of big conglomerate. You are asked to explain your idea and provide business plan. By the end of the day you are told to stay patient and wait while the big boys are taking care of you. You wait weeks and months; keep telling yourself that the phone may ring any day now. Unfortunately nothing happens until you give in – you call first and told that your idea was too non-commercial…
Step 2 - Benefits Of Working With Smaller Companies
Stories like these are common when inventor has to deal with large corporations. It is a fact that the bigger the company is, the more bureaucratic it is. Many big companies lose focus and often hire employees who are either not qualified for the job, or just not interested in what they are doing. If you come across these folks who are trying to make you feel insignificant (and your idea unimportant and impractical) don't get discouraged by this - chances are you will be better off dealing with smaller company that is more focused and willing to take risks!
Many smaller companies are focused on producing products that are specific to your area of interest. These companies are hungry for success and willing to take risks and introduce something new into the market in order to put themselves on the map. In addition, organizational structure of these smaller companies is less bureaucratic and it will be easier for you to come across people willing to take risks.
Step 3 - Benefits Of Market Your Invention Yourself
Another excellent option is to market your invention yourself (for example on the World Wide Web or magazines). Many internet companies allow users to create websites right out of the box, without any programming. This might sound like a lot of leg work and involve lots of planning and analyzing. Indeed, it is. The benefits, on the other hand, will be payoff rewarding! However, before embarking on this exciting journey, one need to carefully analyze and determine things like:
Demographics
Competition
Production Costs
- Product Safety Features
It helps to produce a Business Plan, where you thoroughly explain above mentioned items, paying careful attention to each one. By spending quality time on your Business Plan, you are greatly increasing your chances to succeed. In addition, you will spend your budget wisely by focusing your advertising campaign on specific markets, in certain geographic regions.
If you are interesting in reading more, please visit IdeaJets website that is dedicated in bringing quality information to the inventors all over the globe!
Robert P. Stewart
IdeaJets
IdeaJets Support
Article Source: ArticlesBase.com - How to Avoid Common Mistake in Idea Marketing