Essay Sample on Designing and Building a Product

Introduction

Several ways can help you to design and build a product that will help you get to the market and remain relevant after having an idea about a business venture. (Simpson, Jiao, Siddique, & Holtta-Otto, 2014). Some of these steps may include the following.

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Design a Concept Sketch of the Product

This is an excellent step towards designing your product in a way that will satisfy the needs of the target market. This sketch will assist the entrepreneur to make a vivid prototype that has more details to help tailor a product that suits all. (Heidari, Allameh, de Vries, Timmermans, Jessurun, & Mozaffar, 2014). To come up with viable product design, one should conduct surveys and be able to read the market to determine what the consumers need and start from there. Designing an acceptable product is a way of ensuring that as the entrepreneur you remain relevant in the market.

Create a Virtual Prototype

After designing a sketch of what you want your product to be, as the entrepreneur, the next move should be putting the description into work by considering its viability in reality. Ensure that this prototype plan is done skillfully as it will assist you in determining whether the prototype is acceptable by trying it on real ground. This can be done by taking samples of your product to a selected group of individuals who will help you to identify a weakness or any aspect about it so that you as the manufacturers can make any corrections and adjustments on the product.

Locate a Manufacturer

After coming up with a viable prototype, it technically implies that you are good to hit the market. The next move should be identifying a manufacturer that can produce you good quality products and those that are of effective price and a price that will be friendly to the customers once you hit the market. Use of the high-quality product for the customers is critical in meeting the needs of the client, and this will assist you to remain relevant in the market.

Scaling a Business Venture

After starting the business, every entrepreneur that venture into business often works towards making it successful. This does not however come quickly, as the entrepreneur needs to put several actions into place. Scaling a company to greater heights is never an easy task as you must have the ability to serve your customers consistently. (Teja, 2016). One of the most critical considerations is putting into accounts the Total Addressable Market. This allows the entrepreneur to determine or do surveys about the revenue opportunities by serving as a fast metric of an underlying potential of a specific occasion.

The second element that would allow a business to scale higher is coming up with a viable product plan. A product plan is the most accessible means of communicating and analyzing the market to determine which product is needed and acceptable in the real market. Product planning is very critical as it serves the entrepreneur with the requisite information that is vital as it allows one to make transformations to the product as well as the process of producing the commodity. Products plan to assist the entrepreneur to start imagining about how to market the products to drive the sale successfully. Proper sale of the product gives more returns to the business which the entrepreneur may use to grow his business and raise it to higher heights. In product planning, as an entrepreneur, there are aspects that he/she should include in the plan. These aspects include proper pricing of the product, recourses to use to develop the product for your market as well as how to acquire the end product. The product plan should also contain how the product reaches to the market.

References

Heidari, M., Allameh, E., de Vries, B., Timmermans, H., Jessurun, J., & Mozaffar, F. (2014). Smart-BIM virtual prototype implementation. Automation in Construction, 39, 134-144.

Simpson, T. W., Jiao, J., Siddique, Z., & Holtta-Otto, K. (2014). Advances in product family and product platform design. New YorN: Springer.

Teja, A. (2016, March). The Future of Business and Business School Pedagogy Reconvergence. In 3rd International Seminar and Conference on Learning Organization. Atlantis Press.