Help with marketing a new product

wildkart

Hi...I have invented this product that i have shown to many people and i have been told it should be out there in the market place,its a ladys fashion accessorie that i have shown to the retail market and i have yet to have a negative responce form it,with copy reasions im not going to say what it is just yet,but if you google this product,well google just scratches its head,im not a ecommerce head,but i need someone to point me in the right direction,ive tried the banks,,NO,,,ive tried an enterprise board and no luck yet they tell me wow weve never seen anything like this before...can anyone help...thanks

Piriz

you dont say what stage you are at in terms of your product development, have you made a prototype of your product? have you looked into getting some area of it protected i.e. brand trademark, registered design?

have you sourced a manufacturer? got accurate costs of batch production i.e. how much will 1 product cost if you produce 100, 200, 1000 maybe? when you have an idea of unit cost to you then you can try to work out what will the retail price be, when you work in retailers mark up and VAT and also distribution costs..you might have an indication of profit margins and wholesale cost to retailers.

at this point you might try to source retailers to stock your product or perhaps consider selling them online.. at this point you may consider a promotion/advertising strategy...

if you have expressions of interest or orders fr your product you might find it easier to get a loan or investment..

Peterdalkey

It appears to me that you have an idea, not yet a market ready product. You have some steps to take, firstly you need to protect your design by copyright or patent, then you need to organise commercial production, product price points etc.
Are you in a position to finance these steps? In terms of selling the product, you will then need to find a wholesaler or wholesalers to handle distribution to the retail trade. There are huge and expensive stages between a product idea and a market ready offering, do you understand these?

wildkart

Thanks for both replys,this is where i am with this unique product,i have the machine that makes them,and i have over 1000 in stock,the cost to make each is 7 cent,i have sourced packaging and im waiting on display stands,i have walked the streets to find outlets to sell them on a sale or return basis,they will be sold as pairs with and extra pair free,,the retail price i suguest is 5.99,the big problem i have is that i was let go from my job in september and have no funding,i did go to the enterprise board looking for help,but they told me that it wasent manifacturing from a raw product,i dont want to be on the dole,i have a great idea,but no funding,web sites cost anything from €600 upwards and advertising would be another cost,theres just no help for some one like me out there,or mabey im looking in the wrong places,i have been refused twice from the banks,no one is lending,

y0ssar1an22

set up a page on indigogo.com, and hope people will like what you have

Spice Girl

Have you done a start your own business course? You would get help in coming up with a business plan which you could present to a bank in order to persuade them of the viability of your product.
Or tried here? http://microfinanceireland.ie/ or here http://www.businessangels.ie/business-angels.php

Piriz

hi, if you have 1000 in stock and the manufacturing capability to make more then you are in a good position, all you need to do is get retailers to sell your products for you..if they sell then you have a business that can grow and you do not need finance...

jimmii

Sounds like something we might be interested in! I have a shop in the city centre if you want to message me we are always looking out for new Irish products to stock.

Gloomtastic!

Have you thought about using one of the discount sites to market your product for no upfront cost?

http://touch.boards.ie/thread/2057061687/1/#post87026775

wildkart

thanks for all the advise,,i have looked at a few sites sugested and there might be something there,its so difficult to try and build a busines in this climate,i just dispare at the lack of help out there,but i will keep going and i will get this idea to market if it kills me...proberly will...many thanks,,and if theres anymore sugestions for people in my sutation,please let me know

y0ssar1an22

make sure you dont disclose your idea to the public before you apply for a patent. you can get a 12 month worldwide type of patent (not sure of the official name) for quite cheap. its a good idea because you have a year of sales to get the money needed for a longer patent.

shankespony

If you have 1000 in stock sell them direct to the end user at €5.99 rather than 2-3 then they make 100%+ mark up, do it direct at markets, online website, done deal, ebay, gumtree etc etc and maximize your distribution options.

If you do sale or return it ties up cash very quickly and takes time to get paid!. Im not sure of the ins and outs of patenting etc but from what i've seen little tweaks can get round most patents and its those with deepest pockets wins in my opinion (SEE Trevor Bayliss and wind up radio)

Im in UK now and if there is anything else i can help you with DM me. Best of luck.

Fr_Dougal

You can register a domain name for a few quid and use a free website builder to create a site, you can even integrate a payment system on your site for free.

To be honest in order to get penetration at a low cost you're going to have to use social media initially, that's if you don't know anyone that can do some SEO work for you? Create a FB page and get everyone you know, and everyone they know involved by liking your page etc.

Have you been to any of your local Enterprise Boards meet ups? Local areas have they on from time to time and they're a great way to network, get ideas and learn from others in the same boat as you.

Have you contacted any of the Irish/UK fashion etailers to see if you can get your product listed with them? Nice easy route to market.

Mr Moxie

wildkart wrote: »

Hi...I have invented this product that i have shown to many people and i have been told it should be out there in the market place,its a ladys fashion accessorie that i have shown to the retail market and i have yet to have a negative responce form it,with copy reasions im not going to say what it is just yet,but if you google this product,well google just scratches its head,im not a ecommerce head,but i need someone to point me in the right direction,ive tried the banks,,NO,,,ive tried an enterprise board and no luck yet they tell me wow weve never seen anything like this before...can anyone help...thanks

I have just read this thread while researching for my own new business, how did it all work out for you in the end?