Have you ever wanted to add new products to your existing product line? Obviously one way to do that is to find a product that is already developed and start selling that. Affiliate programs are great for that.
Another thing you can do is develop your own new product. Below are 10 ways you can come up with new product ideas.
1. Solve an existing problem for people. There are thousands of problems in the world. Create a product that can provide a solution to one of those problems.
2. Find out what the current hot trend is. You can find out what the new trends are by watching T.V, reading magazines and surfing the net. Just create a product that’s related to the current hot trend.
3. Improve a product that is already on the market. You see products at home, in ads, at stores etc. Just take a product that’s already out there and improve it.
4. Create a new niche for a current product. You can set yourself apart from your competition by creating a niche. Your product could be faster, bigger, smaller, or quicker than you competitor’s product.
5. Add on to an existing product. You could package your current product with other related products. For example, you could package a football with a team jersey and football cards.
6. Reincarnate an older product. Maybe you have a book that’s out of print and is no longer being sold. You could change the title, design a new front cover, and bring some of the old content up to date.
7. Ask your current customers. You could contact some of your existing customers by phone or e-mail and ask them what kind of new products they would like to see on the market.
8. Combine two or more products together to create a new one. For example, you could take a brief case and add a thermos compartment inside to keep a drink hot or cold.
9. Survey the people who visit your web site. You could post a survey or questionnaire on your web site. Ask visitors what kind of products they would like to see on the market.
10. You could create a new market for your existing product. For example, if you’re selling plastic bottles to a pop company, you could turn around and sell those bottles to a fruit drink company.
Hopefully this article will get your mind thinking of ways to come up with new product ideas. There is profit to be made for the business who wants to be different and create a new product.
(Article source: http://www.advertisingengineering.com/make-money/how-to-come-up-with-new-product-ideas.html)