(Newswire.net — April 20, 2022) — How does an idea go from a spark to a best-selling product? Bringing concepts to life and delivering them to market is easier said than done. This lengthy process involves market research, product testing, working with innovative technology, and gaining feedback at every step of the way. With that in mind, launching a winning product is a real art.
Entrepreneur Trevor Edwards knows: he’s enjoyed a colossally successful career, managing top-performing global consumer brands and becoming president of a $34 billion athletics business. A central part of his role is working with industry leaders and creatives to bring products to the mass market. Luckily for budding titans of business, the esteemed professional shares how he takes a mere idea and develops it into a highly desirable consumer product.
Satisfying New Market Trends
The world of product development is the epitome of competitiveness. It’s not merely about the large investment that’s needed, but the ability to identify new trends before they happen. That means professionals who excel in the fast-moving field have to have a specific combination of talents.
One of the biggest challenges in this industry is noticing the turning of the tides. Most recently, there’s been a surge toward eco-friendly products. Within the past five years, there was a 71% rise in online searches for sustainable products. Contemporary business owners have to act fast to meet this growing demand. It’s not just about fitting the bill. The products also need to be consumer-friendly and appealing.
“Most often, my role is bringing new and innovative ideas to consumers and making sure it is done in a customer-friendly way,” explains Edwards. “That can be a challenge but also a lot of fun. For example, there is demand building for products that have a low impact on the environment, and before now, it’s been difficult for people to have transparency into the things they buy.”
Modern-day consumers are savvy when it comes to the purchases they make. Websites such as goodonyou.eco rate companies based on their eco-friendly attributes. It takes the average shopper a few minutes to find out how sustainable a brand is. These sites report on everything from animal cruelty to fair wages. That’s why business leaders need to dig deeper when it comes to the products that they offer, ensuring a sustainable ethos runs all the way through the company, from concept to product development.
“Personally, I’ve always been intrigued by this central problem, the notion that consumers have to compromise when they want a sustainable product,” says Edwards. “There has always been a trade-off — higher prices and lower quality or poor functionality. So for the consumer to make an eco-conscious choice they have to settle for less — therein lies a challenge and an opportunity.”
Identifying a Unique Opportunity
There are over 30,000 new products brought to the market every year. However, as business media property Inc. reports, a massive 95% of those products fail. For that reason, identifying a gap in the market and noticing a demand for a product that doesn’t exist is vital. Entrepreneur Trevor Edwards knows the value of selling the latest innovations to the public.
“Bringing this idea to life takes a certain level of panache,” explains Edwards. “It means combining scientific flourishes and design-led work to create a product that ticks every box. It’s about trying to make new innovations understandable and desirable for everyday people. To me, there is a huge opportunity right there.”
Luckily, Edwards isn’t alone in this plight. He works closely with some of the sector’s leading minds. For that reason, he credits his ongoing collaborations as part of the reason for his success. While the innovator brings a wealth of knowledge and experience to the table, he understands the value of learning from those around him.
“Connecting and collaborating with others runs through everything I do. You don’t have all the answers; there is always someone smarter than you and the power of a team wins out over an individual,” he explains.
The Takeaway
Product development and innovation can be a challenge. The failure rate in this sector is high and so are the stakes. Launching the wrong products is both time-consuming and expensive. However, armed with the right insights and a dedicated team, Edwards is leading the way in this field. Based on his track record of success, the businessman has become one of the most well-known individuals in the merchandising and sales industries.