For a business, bringing an original product to the market can be a great way to boost profits and expand a brand. However, the process required to turn an idea into an actual, marketable product can be complex and multifaceted. The Hendey Group partners with clients on projects of all sizes to help them navigate the obstacles associated with designing, engineering, and manufacturing a successful product.
This page will cover:
- Designing and Developing Your Product Idea
- Then Hendy Group 5-Step Process to Turn Your Idea Into a Reality
- Product Development and Design Capabilities
Transforming a product from concept to reality can be time-consuming and expensive, especially for small businesses that lack the expertise, resources, and technical capabilities to move a product idea forward. A substantial amount of careful planning and organization is required to mitigate risks and ensure the success of a product upon its introduction to the market.
Our proven five-step product development method streamlines the process to help you create a robust, well-thought-out product that will thrive in its target market.
At The Hendey Group, we work with companies to methodically guide the product development process with the following 5-step approach:
1. Concept development
The concept development stage involves transforming an idea for a new product into a detailed blueprint that can be tested and refined. The Hendey Group works with clients to explore variations of a concept and its potential features through a series of sketches. During this stage, it is important to consider the types of problems the product will attempt to solve and how end users will benefit from having it.
During the engineering phase of product development, a strategy is established for converting a concept into a functional product based on the client’s cost and quality expectations. The Hendey Group works with the client to identify any relevant design or engineering challenges, allowing us to create solutions that are carefully tailored around the project’s specific circumstances. The goal is to make sure the final product will meet all applicable marketing, regulatory, and user requirements.
In the prototyping phase, various manufacturing techniques are used to transform a 3D design of a product into a functional proof-of-concept model. The Hendey Group’s rapid prototyping services generally involve machining, 3D printing, molding, programming, and assembly into a physical form for evaluation. The resulting fully-functional prototype makes it possible to accurately convey the purposes and capabilities of the product to potential users and investors.
The testing phase of product development ensures that a prototype or product functions as expected. The Hendey Group can generate a virtual representation of a product to confirm its usability under relevant conditions. This helps to identify any design flaws or areas in need of improvement. A product’s functionality and ease-of-use can be further validated through alpha and beta testing, which allows real-world users to test the products themselves. Users can then share their experiences and feedback so that fine-tuning can occur prior to product launch.
5. Manufacturing and beyond
The manufacturing stage of product development uses insights gained from previous stages to identify the best manufacturing strategy for your product. During this stage, The Hendey Group will use its extensive network of manufacturers and suppliers to choose a provider that can accommodate the anticipated scope, budget, and timeline of your project. We also coordinate communication during the various manufacturing stages of your project to ensure that the appropriate quality control measures are being implemented.
Product development strategies may vary somewhat depending on the type of product or service being developed, but there are some general guidelines that should be followed in every development process to help maximize your product’s chance of success:
- Identify opportunities in the market space. Gaps or inefficiencies in the current market space represent valuable opportunities for businesses looking to develop and introduce new products. Once an opportunity has been identified, it is important to clearly define the problem your product is attempting to solve. Filling an existing market gap with a well thought out, carefully targeted product is the best way to ensure a successful product launch.
- Perform a cost-benefit analysis. It is important to keep in mind that not all product ideas are worth developing even if they do fill a void in the market. For example, certain products may require long periods of costly testing before they can be released. Such products should be closely evaluated to determine their long-term profitability. Another potentially risky product is one that involves a considerable level of initial investment to design and produce. When deciding whether or not a project is worth pursuing, it is important to consider launching costs, expected time to profitability, and potential risks associated with the product’s investment.
- Conduct the relevant research. Research is an extremely important element of every step in the product development process. Initial product research should be focused on ensuring that your idea is not previously patented. It is also important to keep a close eye on your competitors and the rapidly evolving market space so that you can be aware of any changes in the potential demand or profitability of your product.
- Thoroughly test designs, virtual prototypes, and physical models. Accurate virtual representations of a new product can be created and tested in digital environments to allow for early design validation and verification. These simulations can help to identify design flaws or areas for improvement, allowing the design to be optimized before reaching the physical prototyping step. Once a physical prototype is generated, the product can be further evaluated under real conditions to identify potential flaws and assess ease of use.
- Formulate a proactive marketing strategy. It is important to work on building a solid marketing strategy as you are going through the stages of product development. Companies should focus on developing strategies to boost demand for their product before it even becomes available for purchase. This proactive marketing approach can increase purchases once the product is released, which will help to speed up your return on investment.
Keeping these guidelines in mind, The Hendey Group provides the following capabilities to support the various phases of product development:
- Concept development
- Industrial design
- Electrical design
- Engineering/technical drawings
- Physical and virtual illustrations
- 2D CAD and 3D modeling
- 3D animations
- Patent illustrations
- Hardware and software development and testing
- Product documentation
Designing, manufacturing, and marketing a new product involves a complex series of actions that require careful coordination and attention to detail. The Hendey Group offers a complete set of engineering, design, and prototyping solutions that can be tailored to meet the needs of your project. With our highly effective five-step product development approach, we provide the necessary insights and technologies to efficiently transform your concept into a profitable new product.
Part of what sets The Hendey Group apart from other product development companies is our commitment to transparency. We work closely with clients during every step of the process, making sure they are well-informed at each stage. We also offer flexibility in our process and are willing to start working with clients at any point in the product design cycle.
To learn more about our product development services and how they can be customized around your project, please contact us today.