📍The ultimate 15-step checklist for successful product research
So you’ve picked a product but will it work? If you just move forward from this point forward, your chances are kind of random if you’re going to be successful or not. That’s not good and that’s why I put together this checklist. In this video, I’m going to give you 15-step for successful product research. You’ll know if the product’s going to work or not.
✅00:49 – WHAT IS PRODUCT RESEARCH?
✅01:11 – WAYS TO DO A PRODUCT RESEARCH
✅01:13 – MARKET-BASED CRITERIA
✅01:38 – PRODUCT-BASED CRITERIA
✅03:01 – MARKET SIZE
✅03:37 – DETERMINE YOUR PRODUCT OUTLOOK
✅04:14 – IS IT A TREND, A FAD, A FLAT, OR A GROWING MARKET?
✅05:32 – IS YOUR PRODUCT AVAILABLE LOCALLY?
✅05:51 – DETERMINE YOUR TARGET CUSTOMERS?
✅05:14 – DETERMINE THE MARKUP?
✅06:50 – DETERMINE YOUR POTENTIAL SELLING PRICE
✅07:46 – DETERMINE YOUR PRODUCT’S SIZE AND WEIGHT
✅07:58 – HOW DURABLE IS YOUR PRODUCT?
✅08:16 – IS YOUR PRODUCT SEASONAL?
✅08:54 – DOES IT SERVE A PASSION, RELIEVE PAIN, OR SOLVE A PROBLEM?
✅09:23 – WHAT IS THE PRODUCT TURNOVER?
✅09:40 – IS YOUR PRODUCT CONSUMABLE OR DISPOSABLE?
✅09:56 – RESTRICTIONS AND REGULATIONS ON YOUR PRODUCT
✅10:13 – IS YOUR PRODUCT SCALABLE?
I’ve walked you through a lot of steps to check out your product and I hope I didn’t hurt your feelings if your product didn’t match up very well on this list. It’s better that you know that now than to spend a lot of time effort money and find out that you’re not going to make any money on your product.
If you have additional questions or any questions to do with selling online, don’t hesitate to leave them in the comments section below and I’d be happy to help you out.
