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"The true creator is necessity, who is the mother of our invention."
Plato
On the Importance of Marketability Evaluation
Introduction
Even before the inventor starts pouring his heart and money into his invention
or idea, it is extremely crucial to have an independent evaluator to examine
and evaluate it. Why? Because Professional Marketability Evaluation Service
will help you answer the following questions pertaining to invention or idea -
Can my Invention (or idea) be profitable (or successful) in the current
marketplace? Is it possible to produce final product based on the
invention / idea using existing technology?
Benefits of the Marketability Evaluation Service
First of all, one needs to separate a Professional Marketability Evaluation Service
from the numerous invention promotional companies that you may find in TV ads.
For example, Innovation Institute
- (formerly Wal-Mart
Innovation Network) provides professional and objective analysis of the risk
and commercial potential of an invention.
Professional Evaluation Service Company exists not to sugar-coat your invention
and sell it back to you as the best invention of the decade. Marketability
Evaluators will take independent look at your invention and provide you with
the following reports
Product Success Report using latest trends that exist in a particular market
sector
Researching and Reporting laws (both local and Federal) that may have an
impact on an idea
Competition Distribution Report, noting any potential roadblocks and obstacles
Analyze the "neediness" of an invention; factoring the "neediness" factor into
estimating the potential marker size for the final product
In addition, Professional Marketability Consultant will get in touch with potential manufactures of your product. Very often consultant will provide you with the cost analysis and give you the breakdown of what it would take to produce your product with the few, selected manufactures. The final Manufacturing report will have phone numbers of key personnel that the inventor could call in case he is ready to start producing his product.
Addition Benefits of the Marketability Evaluation Service
Banks and financial institutions are more likely to grand financial aid to
an inventor who obtained positive Marketability evaluation from the reputable
service company because it has a higher chance to succeed.
In addition, if Marketability Evaluation Service Consultants found your
invention non-commercial or very costly to produce, then you should take
their advice seriously. Stop pouring money into patenting your invention
and carefully consider the report. In most likelihood, your invention is
indeed too non-commercial or too expensive to produce with the existing
technology.
Summary
According to the
Wisconsin Innovation Service Center, the cost of introducing new products
into the market had skyrocketed in the last decade. In addition, a large percentage
of new inventions are not successful despite a huge effort (lost time and money) on
the part of the inventor. Upon carefully examining above mentioned facts, one
Should realize that the Marketability Evaluation Service Consultants are great
resources to the inventor and help identify, in the very rudimentary stages of
product development, whether the product has any potential to be profitable and
help identifying particular market sectors where your invention will succeed!
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