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Why global traders should develop their own products

Originally Published on TradeReady Alibaba, China’s e-commerce giant, is synonymous with delivering affordable products with little uniqueness, leading to a market saturated with products that offer little innovation and low margins. Offering low product costs might be tempting, but it may not be the best choice when brands are operating in a fast-paced, dynamic consumer market and consumer behavior is steadily shifting towards personalization and customization. Stay ahead of the pack with product evolution To stay ahead of the fray, many consumer goods companies know they need to do things differently. One of the best ways is by creating new products. Here are a few reasons why: Stay ahead

Prototyping and Types of Product Prototypes

Prototypes play a pivotal role in the product development process and are used to establish feedback loops that allow your unique idea to evolve. During the development process, a number of prototypes will be necessary to verify your product design functions and appears as expected. As a rule of thumb, each development step is followed by a prototype. The purpose of prototypes is to verify that your product works as intended. If the prototype fails, the product will not work and will need to be re-designed. However, if the prototype is functionally and aesthetically well received, you can proceed with the design or manufacturing stages and start to market your product with prototype on hand.

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