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More than 40 % of businesses that fail built a product which has no demand in the current market as per the report by CB Insights. What you plan to make will be totally different from the final product. Creating a product strategy saves you from making mistakes And overcome the pitfalls in advance.

What is a product strategy? 

It is a roadmap for the product creation. A step by step process is planned based on the motivation to built the product. Without a strategy coming up with the right design within the time constraint can be challenging. It streamlines the entire product development. Even The best product designing services can't be built a robust design without a proper strategy in place. 

1.Market Insights - In order to design a product that is well accepted by the customers, you’ll first have to study the competitors. 

• What are the features of their product which made them a wide success? 
• What are their weak points and strengths?
• Why is the standard pricing for a similar product? 
• What attributes can hamper your product’s sales? 

Once you have identified your competitors and studied how they work, it’s time to gather customer data. Find out where they are purchasing products. Do they go to e-commerce selling portals such as Amazon, Flipkart, etc? The main goal is to collect information on the end users. 

2. User Persona - A market research is conducted to study why the customers are purchasing from the competitors. After you understand the motivation behind the sales, create a buyer persona. It is the group of people you are targeting through your product. 

Demographic - The priorities of the customer can differ according to their age, gender, income level and lifestyle they follow. By differentiating the people on the basis of demographic you will be able to filter the ones who are keen on buying your product. 
Problems - The reason you started the product design is to solve the issues the user is experiencing with the current products. Thus, you must include their issues to create the right buyer persona. 

Goals - Giving the user what they aspire or want to achieve is your goal.

Interviewing the future customers, conducting surveys and analyzing the data are some of the common ways to know exactly what the users needs. Additionally, you can organize a competition & ask the winners to collaborate with you for designing the product. If you don’t have the time and resource to spend in the initial research phase, you can take assistance from the best product designing services. 

3. Unique selling proposition - Although you might be designing a product comparable to the one already present in the market, a unique selling proposition will make you stand. Why should people leave the other brand & purchase from you? Providing something which is unique from the competitors is the key to establish your product in the market. 

4. Designing a Prototype - You sell merchandise with a simple design, a DIY prototype could work. But for complex products such as machines, you will have to hire a professional. The best product designs services conduct tests before delivering you the final product design. If you are low on a budget consider hiring a freelancer. For a person to draw a product prototype that is precise, he should either be an engineer or have the in-depth knowledge of the product. 

Think about the features you want to include in the product, the raw material you’ll need for the manufacturing, packaging, etc. You shouldn’t forget the problem areas of the buyer persona at the time of designing. 

You can explore a variety of colour schemes, textures and technologies to be used in product design. After you have come up with a final draft, further you can create a CAD image to test the product. If you lack the creative flair, consider hiring the best product designing services.

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