{"id":8986,"date":"2022-05-23T04:27:36","date_gmt":"2022-05-23T04:27:36","guid":{"rendered":"https:\/\/staginggembah.wpengine.com\/blog\/product-development-strategy\/"},"modified":"2025-04-03T12:07:05","modified_gmt":"2025-04-03T17:07:05","slug":"product-development-strategy","status":"publish","type":"post","link":"https:\/\/gembah.com\/blog\/product-development-strategy\/","title":{"rendered":"Which is the Best Product Development Strategy for Your New Product?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">To create your own product and get it to market, you need a solid <\/span><span style=\"font-weight: 400;\">product development strategy<\/span><span style=\"font-weight: 400;\">. Think of this as your methodology to get through all the steps from the idea through to the final end product.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For many entrepreneurs who have not created and manufactured their own product yet, it can be overwhelming to visualize all of the steps to go through the product life cycle and get your product on the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This article will help you map out the steps with a variety of different product types and sub-types. So if you want to map out your perfect e-commerce <\/span><span style=\"font-weight: 400;\">product development strategy<\/span><span style=\"font-weight: 400;\">, grab a coffee and take some notes!<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#The_Perfect_Product_Journey\" title=\"The Perfect Product Journey\">The Perfect Product Journey<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#The_Branded_Product\" title=\"The Branded Product\">The Branded Product<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#What_Is_A_Branded_Product\" title=\"What Is A Branded Product?\">What Is A Branded Product?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#Branded_Product_Advantages\" title=\"Branded Product Advantages\">Branded Product Advantages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#Branded_Product_Disadvantages\" title=\"Branded Product Disadvantages\">Branded Product Disadvantages<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#The_Customized_Product\" title=\"The Customized Product\">The Customized Product<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#What_Is_A_Customized_Product\" title=\"What Is A Customized Product?\">What Is A Customized Product?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#Customized_Product_Advantages\" title=\"Customized Product Advantages\">Customized Product Advantages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#Customized_Product_Disadvantages\" title=\"Customized Product Disadvantages\">Customized Product Disadvantages<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#The_Unique_Product\" title=\"The Unique Product\">The Unique Product<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#What_Is_A_Unique_Product\" title=\"What Is A Unique Product?\">What Is A Unique Product?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#Unique_Product_Advantages\" title=\"Unique Product Advantages\">Unique Product Advantages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#Unique_Product_Disadvantages\" title=\"Unique Product Disadvantages\">Unique Product Disadvantages<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/#Which_Product_Development_Strategy_Will_You_Choose\" title=\"Which Product Development Strategy Will You Choose?\">Which Product Development Strategy Will You Choose?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Perfect_Product_Journey\"><\/span><b>The Perfect Product Journey<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">First off, when creating a product, consider what the customer needs. Is there an existing market? Is there a reason for this product? What does it do that solves a problem? The best product ideas can also be an intersection of two markets, like water bottles that are also eco-friendly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When mapping out your product roadmap, let\u2019s start with the three main types of products you can create, which increase in complexity and earning potential:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Branded product<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customized product<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Unique product<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">And the latter two have three separate streams that impact your <\/span><span style=\"font-weight: 400;\">product development strategy<\/span><span style=\"font-weight: 400;\">. So think of the following as different potential paths under the customized product and unique product categories:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No moving parts: If your product has static assembly products it\u2019ll fall under this category.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Has moving parts: If your product includes moving\/mechanical functionality it\u2019ll be classified here.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Has electronic components: If your product includes electronics, it\u2019ll be categorized under this umbrella.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Let\u2019s get started on bringing your product to life!<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Branded_Product\"><\/span><b>The Branded Product<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-6097\" src=\"https:\/\/gembah.com\/wp-content\/uploads\/2022\/07\/black-and-white-water-bottle.jpeg\" alt=\"Product development strategy: black and white water bottle\" width=\"700\" height=\"467\" \/>A branded product is a white label version of a product: Simply adding a logo to an existing product is the quickest and most direct route to selling your first physical product.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_Is_A_Branded_Product\"><\/span><b>What Is A Branded Product?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The branded product path is often referred to as <a href=\"\/blog\/white-label-101\/\">white-labeling<\/a>. A white-labeled <\/span><span style=\"font-weight: 400;\">product offering<\/span><span style=\"font-weight: 400;\"> is when you take an <\/span><span style=\"font-weight: 400;\">existing product<\/span><span style=\"font-weight: 400;\"> and put a branded label or logo on it without making any changes to the product. The general public is not always aware of how this is done in the e-commerce world.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can find an under-marketed product, brand it to make it seem unique, write some sales copy, and apply a new pricing strategy. Simple and direct. If you have a product marketing idea or angle, that can be enough to move forward with a branded product.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In terms of a <\/span><span style=\"font-weight: 400;\">business strategy<\/span><span style=\"font-weight: 400;\">, this is the most direct path to creating a product \u2014 and is much simpler than creating a product from scratch. (This saves you a significant amount of time in the <\/span><span style=\"font-weight: 400;\">product development process<\/span><span style=\"font-weight: 400;\">.) You should be aware that a <\/span><span style=\"font-weight: 400;\">successful product<\/span><span style=\"font-weight: 400;\"> that uses this strategy would require a clearly defined <\/span><span style=\"font-weight: 400;\">target market<\/span><span style=\"font-weight: 400;\">. Since you are not creating a truly unique product, you should only choose white-labeling if you see an advantage or gap in the marketing.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Branded_Product_Advantages\"><\/span><b>Branded Product Advantages<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">By choosing this option as opposed to creating your own customized or fully unique product, you can get your product to market quicker. Being first-to-market is a huge advantage\u2014 it allows you to become the recognized brand in that product category. It also allows you to dominate the space by aggressively gathering reviews which can provide a protective barrier around your brand. This is particularly important in marketplaces like Amazon that have a very low barrier of entry for competitors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another pro for this <\/span><span style=\"font-weight: 400;\">product development strategy<\/span><span style=\"font-weight: 400;\"> is that your product costs will be lower. All of the infrastructure is in place already. You\u2019re just adding a label to the product.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There is another major benefit of the branded product: You can expand on your core line of products without making a large upfront investment. This can be especially beneficial if you have the potential for cross-selling or up-selling with your other items.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Branded_Product_Disadvantages\"><\/span><b>Branded Product Disadvantages<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A drawback to branded products is the lack of differentiation. A water bottle with an etch-printed label A is essentially no different than if it has label B. Because of this, it also means that your competitive moat is low. Another entity can copy or knock off your product and be sold by competitors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One point of note is your <\/span><span style=\"font-weight: 400;\">marketing strategy<\/span><span style=\"font-weight: 400;\"> for a branded product. If you are relying exclusively on the traffic from a behemoth like Amazon, you can find that a competitor can pop up quickly. If your sales come from your own marketing channels and your own e-commerce website, you will have more of a protective moat. The <\/span><span style=\"font-weight: 400;\">metrics<\/span><span style=\"font-weight: 400;\"> of success in this path could come down to how much profit you make per sale. A higher-cost product allows more to be budgeted towards advertising on Instagram or Google Ads.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Often this means that the profitability and profit margin can go down quickly as multiple vendors enter the marketplace.<\/span><\/p>\n<div class=\"banner\">\r\n    <div class=\"title\">\r\n        <span class=\"light\">Launch Your Product Faster<br> with<\/span>\r\n        <span class=\"bold\">Gembah<\/span>\r\n    <\/div>\r\n    <div class=\"subtitle\">\r\n        <span>1000\u2019s of vetted factories, designers, and experts are a few clicks away!<\/span>\r\n    <\/div>\r\n    <a href=\"\/expert-help\/\" target=\"_blank\" class=\"cta-button\">Get Started Now<\/a>\r\n<\/div>\r\n<style>\r\n    .banner {\r\n        background-color: #0692FB;\r\n        background-image: radial-gradient(rgba(255, 255, 255, 0.07) 1.6px, transparent 1px);\r\n        background-size: 7px 7px;\r\n        color: #ffffff;\r\n        padding: 30px;\r\n        text-align: center;\r\n        font-family: Arial, sans-serif;\r\n        border-radius: 12px;\r\n        max-width: 540px;\r\n        margin: 20px auto 40px;\r\n        box-shadow: 0px 8px 16px rgba(0, 0, 0, 0.2);\r\n        display: inline-block;\r\n    }\r\n\r\n    .banner .title {\r\n        font-family: 'Poppins', sans-serif;\r\n        font-size: 28px;\r\n        margin: 5px 20px 0;\r\n        text-shadow: 1px 1px 4px rgba(0, 0, 0, 0.2);\r\n        line-height: 1.2;\r\n        color:#ffffff!important;\r\n    }\r\n\r\n    .banner .title .light {\r\n        font-weight: 400;\r\n    }\r\n\r\n    .banner .title .bold {\r\n        font-weight: 900;\r\n    }\r\n\r\n    .banner .subtitle {\r\n        font-family: 'Jost', sans-serif;\r\n        font-size: 18px;\r\n        font-weight: 400;\r\n        line-height: 1.25;\r\n        margin: 14px 60px 20px;\r\n        text-shadow: 1px 1px 4px rgba(0, 0, 0, 0.2);\r\n        word-spacing: 0.8px;\r\n        color:#ffffff!important;\r\n    }\r\n\r\n    \/* More specific selector with !important overrides *\/\r\n    .banner a.cta-button {\r\n        background-color: #fdbc52 !important;\r\n        color: #1e1e1e !important;\r\n        font-family: 'Jost', sans-serif !important;\r\n        font-size: 20px !important;\r\n        font-weight: 900 !important;\r\n        padding: 9px 19px !important;\r\n        border-radius: 6px !important;\r\n        margin: 15px 0 10px !important;\r\n        cursor: pointer !important;\r\n        text-decoration: none !important;\r\n        display: inline-block !important;\r\n        transition: background-color 0.3s ease !important;\r\n        box-shadow: 0px 6px 12px rgba(0, 0, 0, 0.3) !important;\r\n    }\r\n\r\n    .banner a.cta-button:hover {\r\n        background-color: #e6a946 !important;\r\n    }\r\n\r\n    @media (max-width: 600px) {\r\n        .banner {\r\n            max-width: 90%;\r\n            margin: 20px auto;\r\n        }\r\n\r\n        .banner .title {\r\n            font-size: 20px;\r\n            margin: 0px 0;\r\n        }\r\n\r\n        .banner .subtitle {\r\n            font-size: 16px;\r\n            font-weight: 500;\r\n            margin: 20px 20px 0;\r\n            margin-bottom: 30px;\r\n        }\r\n\r\n        .banner a.cta-button {\r\n            font-size: 16px !important;\r\n            padding: 10px !important;\r\n            width: 100% !important;\r\n        }\r\n    }\r\n<\/style>\r\n\n<h2><span class=\"ez-toc-section\" id=\"The_Customized_Product\"><\/span><b>The Customized Product<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The customized product is the Goldilocks option, in between white label and full-on product creation.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_Is_A_Customized_Product\"><\/span><b>What Is A Customized Product?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The customized product involves a modification of a <\/span><span style=\"font-weight: 400;\">current product<\/span><span style=\"font-weight: 400;\">. The original <\/span><span style=\"font-weight: 400;\">product concept<\/span><span style=\"font-weight: 400;\"> is solid, but you can see how adding a <\/span><span style=\"font-weight: 400;\">new feature<\/span><span style=\"font-weight: 400;\"> or changing a poorly designed element could bring new sales from an existing <\/span><span style=\"font-weight: 400;\">target audience<\/span><span style=\"font-weight: 400;\"> that is already buying <\/span><span style=\"font-weight: 400;\">similar product lines<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s an example: Imagine you have an idea for a new smartphone case. You want to add a non-slip backing to the inside of the case. The backing material is already available and can be added to the case. But here\u2019s the twist: You find a similar product that is using a material in a slightly different way and you implement that change in your own product. Doing this would make the phone case a fully customized product.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Customized_Product_Advantages\"><\/span><b>Customized Product Advantages<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The primary benefit of this approach is that it\u2019s a way to quickly differentiate your product in the market without a long development cycle. This is perfect for those who see an opportunity and <\/span><span style=\"font-weight: 400;\">target market<\/span><span style=\"font-weight: 400;\"> with an <\/span><span style=\"font-weight: 400;\">existing product<\/span><span style=\"font-weight: 400;\">, but see a way to stand out with a little tweak in the <\/span><span style=\"font-weight: 400;\">product design<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another advantage is in-house market research. You can read reviews online, talk to consumers, conduct surveys, and do some in-person observation in the space to identify design flaws, features, or functionalities that can improve the design or usage of the product.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the customization option, you are essentially choosing an off-the-shelf product, leaving 90% of the product untouched. But you take that model and make a small adjustment, which gives your finished product a characteristic that makes it stand out from the rest of your competitors who chose a similar off-the-shelf product.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An example of this could be developing a custom color for a particular water bottle design and perhaps fixing a design flaw like adding a handle, a divot or a <\/span><span style=\"font-weight: 400;\">new feature<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The modifications you do open up the door to a potential product patent, a more competitive moat (since making modifications is more difficult for competitors looking for an easy arbitrage), and a stronger <\/span><span style=\"font-weight: 400;\">product offering<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Customized_Product_Disadvantages\"><\/span><b>Customized Product Disadvantages<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A minor disadvantage of this type of product modification is that it is relatively easy for competitors to clone. Taking a light and adding a multicolor LED instead of just a white light may make a better product for the consumer \u2014 but it\u2019s something that can easily be done to other products.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Unique_Product\"><\/span><b>The Unique Product<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-6098\" src=\"https:\/\/gembah.com\/wp-content\/uploads\/2022\/07\/black-water-bottle.jpeg\" alt=\"Black water bottle\" width=\"700\" height=\"467\" \/>One of the best options is to <\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/how-to-create-a-product-to-sell\/\" target=\"_blank\" rel=\"noopener\" data-wpil=\"url\"><span style=\"font-weight: 400;\">create a truly <\/span><span style=\"font-weight: 400;\">new product<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_Is_A_Unique_Product\"><\/span><b>What Is A Unique Product?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Unique products are things that don\u2019t exist today. This could be based on an <\/span><span style=\"font-weight: 400;\">existing product<\/span><span style=\"font-weight: 400;\"> that needs to be completely redesigned because the manufacturer can\u2019t make any changes, even minor ones. An example could be a gimbal that doesn\u2019t allow a full 180-degree turn with certain cameras.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Creating a fully customizable product requires <\/span><span style=\"font-weight: 400;\">ideation<\/span><span style=\"font-weight: 400;\"> and lateral thinking to come up with a <\/span><span style=\"font-weight: 400;\">new product concept<\/span><span style=\"font-weight: 400;\"> that can open up a <\/span><span style=\"font-weight: 400;\">new market<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sometimes this can be a <\/span><span style=\"font-weight: 400;\">new product<\/span><span style=\"font-weight: 400;\"> in an existing <\/span><span style=\"font-weight: 400;\">target market<\/span><span style=\"font-weight: 400;\"> \u2014 possibly based on developing technology. And sometimes this can be<\/span> <a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/\" target=\"_blank\" rel=\"noopener\" data-wpil=\"url\"><span style=\"font-weight: 400;\">a new type of product entirely<\/span><\/a><span style=\"font-weight: 400;\">. An example of a <\/span><span style=\"font-weight: 400;\">new product<\/span><span style=\"font-weight: 400;\"> could be a crypto hardware wallet. Just a few years ago, there was no market for them, but you can see that this will be a growing market segment looking into the future.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another example of good <\/span><span style=\"font-weight: 400;\">design thinking<\/span><span style=\"font-weight: 400;\"> is wearable Velcro weights. They\u2019re functional and historically very ugly, but useful to maintain and build muscle in different demographics like the elderly and women. What if someone were to <a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/how-to-create-a-product\/\" data-wpil=\"url\">create a product<\/a> that had the same <\/span><span style=\"font-weight: 400;\">function<\/span><span style=\"font-weight: 400;\">, but brought it into the modern era? <\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/case-studies\/cali-weights\/\" target=\"_blank\" rel=\"noopener\" data-wpil=\"url\"><span style=\"font-weight: 400;\">Cali Weights took this idea and transformed it<\/span><\/a><span style=\"font-weight: 400;\"> to create a truly <\/span><span style=\"font-weight: 400;\">great product<\/span><span style=\"font-weight: 400;\"> with the help of Gembah. The <\/span><span style=\"font-weight: 400;\">ideation<\/span><span style=\"font-weight: 400;\"> for ankle weights already existed in the market, but Eric Finkelman totally redesigned them to make them visually stunning, gaining <\/span><span style=\"font-weight: 400;\">new customers<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Unique_Product_Advantages\"><\/span><b>Unique Product Advantages<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Here you have the opportunity to own intellectual property and really be differentiated, even as a <\/span><span style=\"font-weight: 400;\">startup.<\/span><span style=\"font-weight: 400;\"> The main advantages to this path are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You\u2019d be creating a whole <\/span><span style=\"font-weight: 400;\">new product<\/span><span style=\"font-weight: 400;\"> (or <\/span><span style=\"font-weight: 400;\">new product<\/span><span style=\"font-weight: 400;\"> category)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There\u2019s the most potential for a <\/span><span style=\"font-weight: 400;\">new market<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You have the largest protective moat, harder for others to copy<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The main benefit here is real ownership and first-to-market rights. A fully custom product also improves company valuation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The best route to start here is feasibility \u2014 is there a <\/span><span style=\"font-weight: 400;\">current market<\/span><span style=\"font-weight: 400;\"> for this product? What is it going to take to get this <\/span><span style=\"font-weight: 400;\">new product<\/span><span style=\"font-weight: 400;\"> to market?<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Unique_Product_Disadvantages\"><\/span><b>Unique Product Disadvantages<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The overall <\/span><span style=\"font-weight: 400;\">new product development process<\/span><span style=\"font-weight: 400;\"> is longer and includes more stages since you will have to essentially build up your design and find the right supply chain. The longer time to bring your product to market opens the door for competitors, particularly if you delay during the ideation and concept phases.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But, as with many things, higher risk leads to higher rewards \u2014 especially if your product solves a real problem.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Creating a truly unique product will require the most out-of-pocket cost to bring to market, and a longer product cycle time. You have time and resource demands at the creation and prototype stages, for example, that could be bypassed with a customized product.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Envisioning your own product and creating a real-life version of it to sell is arguably the most difficult, albeit most rewarding path to creating your own widget.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Which_Product_Development_Strategy_Will_You_Choose\"><\/span><b>Which <\/b><b>Product Development Strategy<\/b><b> Will You Choose?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are pros and cons to each of these options. Making money by manufacturing your own product to sell is rewarding and lucrative. But the rewards come only after you have finished your physical product \u2014 which, frankly, many great entrepreneurs struggle with.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Navigating all the stages of developing a <\/span><span style=\"font-weight: 400;\">new product<\/span><span style=\"font-weight: 400;\"> can be overwhelming. At Gembah, our <\/span><span style=\"font-weight: 400;\">development team<\/span><span style=\"font-weight: 400;\"> can help you brainstorm the best way to transform your idea into a finished product. At every phase, from initial market research to manufacturing partners to market development strategy, Gembah has created a path for e-commerce entrepreneurs with great ideas to create successful physical products. Don\u2019t let yourself lose time and money trying to figure out all of this on your own. <\/span><a href=\"https:\/\/gembah.com\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Talk to our team today<\/span><\/a><span style=\"font-weight: 400;\"> so we can guide your product journey and make your product a success.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To create your own product and get it to market, you need a solid product development strategy. Think of this as your methodology to get through all the steps from the idea through to the final end product. For many entrepreneurs who have not created and manufactured their own product yet, it can be overwhelming &#8230; <a title=\"Which is the Best Product Development Strategy for Your New Product?\" class=\"read-more\" href=\"https:\/\/gembah.com\/blog\/product-development-strategy\/\" aria-label=\"More on Which is the Best Product Development Strategy for Your New Product?\">Read more<\/a><\/p>\n","protected":false},"author":14,"featured_media":7711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[],"topics":[15],"class_list":["post-8986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","topics-product-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.1 (Yoast SEO v23.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Best Product Development Strategy for Your New Products<\/title>\n<meta name=\"description\" content=\"Learn the key product development strategies available to you\u2014branded, customized, or unique products. 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