Manufacturers are looking for new product ideas to add to their product line. Manufacturers want innovative ideas as a way to increase revenue and get ahead of their competition.
The problem is that manufacturers get flooded with ideas. And these ideas are submitted without any market information or how the product can be manufactured. Manufacturers also receive submissions that have nothing to do with their capabilities or product line. As a result the disconnect between inventors and manufacturers leads to frustration on both sides.
So how can an inventor stand out from the crowd and get a manufacturer interested? You might assume that manufacturers will just figure out your idea because they are in the industry. Wrong. The problem is time. They are so busy with current projects and don't have time to figure out each product idea.
To submit your invention, first find manufacturers that make similar products to yours and sell to the same target market. Then find the telephone number for their headquarters. You want to talk to someone in their marketing department such as a Product Manager. When you get the contact person on the phone concisely describe the benefits of your product ideas and how it fits with their product line.
If they are interested mail a cover letter and a Product Proposal. A Product Proposal includes:
1. Market need - describe the need, want, or problem that your product idea provides.
2. Product benefits - since people buy products based on benefits describe how your product idea saves time, saves money, provides health, safety, etc.
3. Competitive advantages - describe how your product idea provides benefits better than other products in the market.
4. Customer - describe who is the most likely end-user of your product idea.
5. Testimonials
6. Estimated manufacturing costs and profitability.
With marketing data in hand, the product manager can present your idea to their new product committee.
Overall, when you follow these guidelines you will get less rejection and more company interest.
For more details on how to effectively license or sell inventions, please visit http://www.ProductCoach.com?source=GoArticles
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