How to Market Your Invention
If you have something and you know that the public will have great appreciation on your work, then let the people know about your invention. If you will not, even if it is the best ever made invention, it will just remain a trinket that only you will feel be fascinated.
Thus, so as to not waste all your efforts, introduce it to the public.
If you have decided to introduce your invention to the world, there are several things that you must first take into consideration before you start your plans. First is to know the important things that you will need such as your prototype, a marketing plan, some press release, and your own lawyer. Second, familiarize yourself with the techniques on how to market your invention successfully. Here are the guidelines on doing one.
Pay Attention on Your Prototype
Fine-tuning your prototype must be the first task that you must accomplish in your list. This is in order for you to resolve lingering issues on designs, if there are any. Although what you are going to present first is your prototype, you must make sure that it is flawlessly made so that sign up many investors and licensees. Then, decide whether you intend on retaining a full control on your concept as well as the entire associated marketing or you will just license your concept to a particular business establishment.
Marketing Plan
In order for you to be sure that you are making all the right necessary decisions concerning your invention concept, seek the help of a lawyer. Ask his/her help in drafting non-disclosure agreements beforehand. This is to ensure that your intellectual property is being protected, most especially when you are already dealing with some of your potential licensees. Next thing for you to do is to draft your marketing plan. In drawing up your marketing plan, make sure that it will center on gaining more attention on your invention. In addition to this, you must also define in your marketing plan your customer as well as pinpoint the competition that may arise when you brought and introduce your invention to the public.
Money Matters
Budget a fair amount of the funds that you are going to need. When budgeting, include all of the expenses that you might come across such as trips, trade shows, and advertising, whether it is in print or in television. You must also identify as well as attend every trade shows, appear and speak in civic clubs, or even researching and going to any event that you think your potential customers attend to. Then you must set your price. This is where your research about the competition comes handy. This way, you will get an idea of what and how the market bears.
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