Include marketing and production projections in your new product idea's basic information report:
1. Point out primary potential markets, secondary consumers, etc., by using general U.S. Government statistics.
2. Provide estimates of manufacturing costs and suggest wholesale costs in conjunction with an estimated retail price.
3. Using general statistics, estimate the number and types of outlets where the new product idea could be distributed.
4. Obtain a preliminary patentability search and opinion.
Children’s natural instinct to brainstorm and create should be nurtured by parents and teachers alike. Coming up with new product ideas and inventions is a great way to instill a love of science, math, marketing and the entrepreneurial spirit. It also teaches cooperation and instill tremendous conf