Richard C. Levy, inventor of the Furby, believes that an idea is only 10 percent of an invention's success. "Ninety percent is the marketing of it -- getting it together, getting it out," Levy says. Marketing your invention is an important part of getting buyers interested and securing sales. Sales are vital to keep any invention going because without money to produce the invention, production will stop and the invention will be a failure.
Instructions
1. Patent the invention. Never start marketing a product without obtaining a patent. A patent prevents others stealing the idea or product and selling it as their own.
2. Determine the use of the invention. The best way to market an invention is by emphasizing how it will help the customer. The purpose of the invention will determine the likely buyers of the product. For example, a new kitchen knife is marketed for its use in the kitchen while a hunting knife is marketed for use in outdoor situations.
3. Draft a marketing plan for the target audience, who are the most likely to buy the product, and pick out features that will appeal to the audience. For example, promotion of an invention designed for elderly should show how the product will help the elderly audience and should use an older individual to show the product rather than a young individual who is unlikely to use the product.
4. Select a marketing venue. There are several ways to market an invention, including online, TV, newspapers and local events. The marketing venue will determine exact marketing techniques and the initial cost of marketing. Marketing online is the least expensive because it is possible to make a website dedicated to the invention without spending money on the website. A commercial is one of the most expensive marketing options and requires actors, dramatization and securing time slots.
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