Step 4: Evaluate Your Ideas for Market Success
Lesson 17 from: Product Line Strategy: Expand Your OfferingsMegan Auman
Step 4: Evaluate Your Ideas for Market Success
Lesson 17 from: Product Line Strategy: Expand Your OfferingsMegan Auman
Lesson Info
17. Step 4: Evaluate Your Ideas for Market Success
Lessons
Why You Need to Create New Products on a Regular Basis
08:26 2What Holds You Back from Creating New Products?
09:38 3The 4 Step Product Expansion System
05:30 4Step 1: Find Your Next Direction
01:39 5Exercise: What's Working with Your Offerings
03:13 6What’s Working: Student Example
05:59 7Exercise: Identify the Gaps in Your Product Offering
09:02 8Identify the Gaps: Student Example
15:09Exercise: Look to Your Passions to Inspire Your New Product Offering
05:07 10Step 2: Declare Your Intention for Your New Product Line
07:04 11Declare Your Intention: Student Example
10:44 12Step 3: Develop Distinctive Design Ideas
01:35 13Exercise: Gather Outside Inspiration
07:54 14Exercise: Carry Over the Common Threads from Previous Designs
09:10 15Carry Over the Common Threads: Student Example
08:05 16Exercise: Design Your New Product Ideas Without Judgement
05:01 17Step 4: Evaluate Your Ideas for Market Success
02:25 18Exercise: Identify the Unknowns in Creating New Products
04:50 19Exercise: Consider Production Costs
03:00 20Consider Production Coasts: Student Example
07:40 21Exercise: Look for Market Support
05:05 22Moving Forward with Your New Product Line
07:49Lesson Info
Step 4: Evaluate Your Ideas for Market Success
So now we're going to move on to step four, and I want to really, really, really drive something home for you guys, so we've found your next direction. We've declared your design intention, you developed your distinctive design ideas, and now we're on step for evaluate your ideas for success. You are not allowed to do this step until you have finished the first three, this is super super important because otherwise you designed with parameters, you don't get where you need to go. So for those of you who on this class and this is a reason to own this class, you want to step, do the process and then come back to this. These series of questions later, obviously, we're time bound, so we're going to move on now. But when you're thinking about your design process, make sure that you've worked through all three steps first, not the also the advantage of are are seeping to our class and getting our work book because you can come back to these questions later after you've designed so now here's...
the honest thing, not every piece you design during the first part of this process should be brought to market. You're going to want to end it at some point, and you're gonna want to know if the things that you're bringing to market or feasible. Now you can do all the research in the world, but you're really not going to know if it's right for market until you run some test market events. So if you watched my boot, can't make a living selling what you make. I talked about this idea of test market event. The test market event is what comes after this product expansion system. So you develop products in a test market. Event is really your first product launch it's bringing it to market and seeing how people respond. So that's the best way to know. But some ideas are riskier to bring to market and others, and we want to mitigate that risk before you bring things to market by doing this evaluation. Now, depending on the scope of your collection, you can do this evaluation on either individual products or as a group. So if your things are kind of related, you probably have to run it through with everything. You can kind of look at a few key pieces and see how this works.
Class Materials
Bonus Materials with Purchase
Ratings and Reviews
I Must Draw
Megan is a brilliant instructor and each of her classes is packed with information to take your business forward. This class has practical steps to help you identify gaps in your product line. Through her own experience of developing product lines she helps you to understand how to stay consistent and cohesive. This is a great class, highly recommend.
Francesca Balagtas
This class was absolutely fantastic. Even though I've had my etsy shop for a while, it has always been something on the side for me while I was attending school full-time. Now that I have the time to really focus and commit to my business I can finally take the steps I need to build up my business and make some real revenue. Because of this class I now know those exact steps to push my shop with full speed ahead. Megan is fully engaging as well, which made the class easy and fun to follow along. Great class, Megan!
Danielle Celeste
Megan Auman is such an amazing artist, craftsman, strategist, and communicator. Everyone trying to make a living selling what they make needs to see this. I think this was my favorite class in the series. Getting such incredibly thoughtful, thought-provoking and concise information from an academically-trained fine artist and teacher was UH-MAZE MAZE!