Even before the inventor starts pouring his heart and money into his invention or idea, it is extremely crucial to have an independent evaluator to examine and evaluate it.
Why? Because Professional Marketability Evaluation Service will help you answer the following questions pertaining to invention or idea
Can my Invention (or idea) be profitable (or successful) in the current marketplace?
Is it possible to produce final product based on the invention / idea using existing technology?
Benefits of the Marketability Evaluation Service
First of all, one needs to separate a Professional Marketability Evaluation Service from the numerous invention promotional companies that you may find in TV ads.
For example, Innovation Institute (formerly Wal-Mart Innovation Network) provides professional and objective analysis of the risk and commercial potential of an invention.
Professional Evaluation Service Company exists not to sugar-coat your invention and sell it back to you as the best invention of the decade. Marketability Evaluators will take independent look at your invention and provide you with the following reports
– Product Success Report using latest trends that exist in a particular market sector
– Researching and Reporting laws (both local and Federal) that may have an impact on an idea
– Competition Distribution Report, noting any potential roadblocks and obstacles
– Analyze the “neediness” of an invention; factoring the “neediness” factor into estimating the potential marker size for the final product
In addition, Professional Marketability Consultant will get in touch with potential manufactures of your product. Very often consultant will provide you with the cost analysis and give you the breakdown of what it would take to produce your product with the few, selected manufactures. The final Manufacturing report will have phone numbers of key personnel that the inventor could call in case he is ready to start producing his product.
Addition Benefits of the Marketability Evaluation Service
Banks and financial institutions are more likely to grand financial aid to an inventor who obtained positive Marketability evaluation from the reputable service company because it has a higher chance to succeed.
In addition, if Marketability Evaluation Service Consultants found your invention non-commercial or very costly to produce, then you should take their advice seriously. Stop pouring money into patenting your invention and carefully consider the report. In most likelihood, your invention is indeed too non-commercial or too expensive to produce with the existing technology.
According to the Wisconsin Innovation Service Center, the cost of introducing new products into the market had skyrocketed in the last decade. In addition, a large percentage of new inventions are not successful despite a huge effort (lost time and money) on the part of the inventor. Upon carefully examining above mentioned facts, one
Should realize that the Marketability Evaluation Service Consultants are great resources to the inventor and help identify, in the very rudimentary stages of product development,
Whether the product has any potential to be profitable and help identifying particular market sectors where your invention will succeed!
If you are interesting in reading more, please visit IdeaJets websitethat is dedicated in bringing quality information to the inventors all over the globe!
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