Five reasons not to rush your product to market
1. Design time
If you are up against a tight schedule, this can be done, but this will also mean that less time is able to be spent looking at options and working out the best solution. The more time allowed to a project, generally, the better the outcome will be. We advise a ‘hurry, don’t rush’ approach; hurry to get a job done but don’t rush the job by taking short cuts or accpeting less than the best.
Testing against relevant standards is vital in ensuring you are bringing out safe products and that you meet stringent quality levels. It is highly advisable to wait for test results and to allow time for modifications before moving on with manufacture.
Accelerated life testing is a great way to make sure products are durable enough to last, this is especially important in the technology industry. Any issues highlighted at the testing stage will need to be modified, and then re tested.
3. Added costs
One thing that adds to time scales, especially when manufacturing abroad, is shipping time. Samples are sent via air shipment, but when it comes to production it’s cheapest to send via sea. Sea shipment takes approximately 5 weeks from factory to the UK destination, compared to 5 days for air freight. So when you’re in a rush for your product sometimes the only option is Air Freight but it comes with a much higher cost, often double, which eats in to your profits. If you add contingency time into your plan then this can be avoided.
4. Initial reviews
Initial reviews are vital to the success of a product, getting your name out there and getting it right first time is very important in todays market. If you rush your product to market without ironing out all the teething issues then this will show in customer feedback. A durable and reliable product is needed to ensure strong customer and brand relationships.
It’s very hard to build reputation back up, even once the issues are rectified, the initial damage will be long lasting.
Bloggers and online reviews mostly happen when the product if first released, so by not rushing you can make sure your product suprasses customer expectaion.
5. Product refinement
Product refinement is necessary at most stages of the design process. From concept, through to production, refinement is what makes a product great.
The best products have been rigorously tested by both testing houses and potential buyers. Market testing is a great way to gauge how the customers will interact and recieve your product. This is often best done at the prototyping stage and then again at the production sample stage with modifications taking place as needed.