Checking Out the Competition

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What should I look for when I am researching the market for my invention?

Checking Out the Competition

Before you pursue your new invention ideas, do a thorough review of the types of products available that are similar to yours. Make note of the price and the popularity of the items. Decide if your new invention idea is going to be enough of an improvement to compete with the products already available.

If there are a lot of products similar to your new invention ideas, you may decide that the competition will be too much. If there is nothing at all like your product on the market, ask yourself if it could be because nobody wants something like your new product ideas.

When you are sure that your new product ideas fill a need better than anything available, start developing them.



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Joe Wallace