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Product Launch Hazzards – The Right Things in the Right Order with the Right Resources for Your Retail Success
Product Launch Hazzards – The Right Things in the Right Order with the Right Resources for Your Retail Success episodes
- Meet International Logistics Expert Jimmy Tran
A lot of new Amazon sellers often make the mistake of putting logistics and freight forwarding as an afterthought in the product launch process, and it can hurt profitability. Jimmy Tran, General Manager of World Craft Logistics is a Product Launch Hazzard expert on Freight Forwarding. He knows that Amazon sellers need a highly dependable freight forwarder who will cater to their needs to get their products shipped smoothly and securely from factory to warehouse. Starting his online business from the comfort of his own bedroom five years ago, he now has a 78,000 square-foot warehouse to accommodate the upward demand from clients. Detail-oriented Jimmy shares his freight forwarding know-how so you can keep your supply chain running efficiently and cost-effectively by optimizing your logistics strategy, from timing deliveries, customs clearances, proper documentation, warehousing distribution, light assembly, labeling, and everything in between. You can get in touch with Jimmy and ask your questions on all things logistics.
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29 min - Meet Market Research Expert Laura Hazzard
When you’re selling something, some questions that come up in your mind are, are people going to buy what you’re selling? Are they going to respond to it? What features do they value? A great way to answer that is market research. Market research expert, Laura Hazzard, has worked with big brands like Target, Starbucks, Disney, Fox, and Sony. She’s done everything from plus size women’s apparel to cat food and everything in between. Laura shares that it’s so critically important to ask questions because then you have a better understanding of why people purchase the things they do. She says that big brands and small companies should both dive deep into market research. They should have a process that they run to see if people will buy their products so they can cut down on costs by avoiding mistakes and optimize their sales.
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36 min - How to Design What Women (and Men) Want
Tom and I are a husband and wife team of Industrial Designers. We are lucky to be working together not just because we enjoy each other’s company– we have a complimentary set of skills, and unlike in corporate settings where people have qualms in voicing out their opinions we are both capable of having an open, honest debate when designing products that involve gender-related perspectives because of our shared vision. We have coined a term called “gender blending” product design, which refers to meeting the needs of both male and female consumers when it comes to designing products. Launching many successful products for ourselves and our clients through out the years was made possible by combining our strengths, which includes our unique ability to factor in the needs of both genders in our product designs.
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9 min - Meet Retail Sales Expert Timothy Bush
The number one question that On The Shelf Retail Expert, Timothy Bush, gets is how long does it take? He says that most entrepreneurs who try to get their products on the shelf don’t struggle with the question of whether they are ready, even though they don’t really know what they’re doing at all. They actually need somebody else to tell them whether they are ready or not. For those that work in the real trenches of retail, trying to launch a new item or a huge celebrity takes a certain amount of time. Things don’t get quicker. They get more backed up. It requires more preparation to really understand what the buyers want to have. What Timothy does is help people take all the little roadblocks out that could get them put down under the pile to be on the top of the stack.
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35 min - Product Promotion: Reserving Capital to Promote It
It is not enough to put your product out there on Amazon, HSN, Walmart, or any other retail store. Those who spend at least 10% of their capital on brand promotion are guaranteed to sell more and increase their brand’s overall acquirable value. The key is to get your message out through a platform and resonate with your audience. Your goal as an entrepreneur should not just be focused on make a single sale per client, but to transform them into fans of your brand who will constantly hanker for more of what you have to offer. Let them know the story behind your brand, and how your products or services can benefit them when consistently churning out high-quality useful content like blogs, videocasts, or podcasts. Get started on building a brand promotional strategy and a public relations plan that converts your target audience into paying customers.
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18 min - Product Production Planning: Critical Factors to Produce It
Finally, you are done with the product development stages and are ready to produce your product for selling. As an entrepreneur, you know that it is absolutely critical to get your product right before launching it to avoid killing your brand with bad customer reviews and high returns. What are the things you need to consider for cost-effective and efficient materials sourcing, finding the right factory for manufacturing, and in making all other major decisions in the production process? If you are clueless as to how or where to start on product production planning, here is a general framework you can work with: building a relationship with your manufacturers, having strong documentation, and consistent follow-up. It can be a daunting process because there is no set flow chart for going about things since it is all really product-specific– but with decades of combined multi-industry experience, Product Launch Hazzards will guide you on how to best produce and launch your product for maximum profit.
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17 min - Invention Protection: Protect It with Patents and Trademarks
Having intellectual property is good for valuation of your business. It is definitely an asset worth investing in especially if your goal is to become an acquirable brand. But first, you have to make sure that your trademarks, patents, and copyright are relevant to your long term business plan, or else they will be useless. We will talk about some examples of what we have done and how we operate as product inventors so you can have a sense of the value of protecting your intellectual property, and hopefully learn from our practical experience how you can save significant time and preserve capital in the process. If you feel that you need to disclose information to a licensing partner, a manufacturer, or a distributor, we have useful resources, as well as intellectual property attorneys we have recommended to our own clients whom you can get in touch with for invention protection.
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9 min - Product Prototypes: When is the Right Time to Prototype It
Prototyping involves design, engineering, early quoting, sampling, iterations, and a host of other factors that need to get done with the right team for optimal results. You need to make a product prototype or do product sampling after proving, planning, and pricing your model so you can have something tangible to show your investors, to make sure it has the right functions, look or feel, and that you can really sell it in mass market retail. As seasoned product designers, we know that there are a lot of unknowns and alternative ways to make an original product that are not included in the traditional manufacturing process. This is why you have to get the right manufacturers whom you trust, at the right rate and the right time. If you are not hitting your target market, have no core capabilities required in your product category, or doing the product design and engineering is distracting you from running your business, you definitely need to hire a consultant, an engineer or designer who can do the job for you. As an importer or brand owner, you have the higher responsibility to make sure that your product is up to par with your claims to avoid costly and time consuming mistakes– prototyping is a part of the process, and we can help you get it right.
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10 min - The Key to Product Launch Success is to Plan It
Tom and I say this a lot: “Hope is not a plan.” There are a lot of concerns to address and factors to consider before selling your product. As a business owner, it is your responsibility to make sure that money and time spent from product research, market study, product development, licensing, prototyping, manufacturing and marketing is worth every penny. In the long run, all mistakes committed in the process of launching and marketing your product will add up and can greatly impact your success, that is why developing a solid game plan is of utmost importance for all stages of your product launch journey. We can help you there through our resident experts, who have a wealth of product development, manufacturing, intellectual property, marketing and advertising knowledge to share with you.
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19 min - Get Your Product Pricing Right for Maximum Profit
How should you decide what to price your product in the market? After creating, developing and marketing over 250 successful products in the last two decades, we have discovered that product pricing relies on completing a correct order of steps for optimal results, something that you can not afford to mess up if you are a serious business owner. There are so many hard facts to account for when preparing an effective cost and profitability analysis that goes well beyond the assigned cost of goods quoted by a manufacturer– details like taxes & duties, logistics, packaging, carrying costs, and many more must be considered and factored in to make sure that you increase and preserve as much profit margin as you can once you launch your product. We will help you figure out the best way to go about pricing your product for maximum profit.
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16 min
About Product Launch Hazzards – The Right Things in the Right Order with the Right Resources for Your Retail Success
From the publisher's feed
Explore the retail and ecommerce product launch formula to out-design, out-source, and out-profit your competition. New Consumer product launches are inherently risky, and the odds of success are…
not in your favor. 7 out of 10 consumer product launches fail; 14 out of 15 products on the home shopping channels fail; less than 2% of inventions ever make any money. In this podcast, and within the Product Launch Hazzards community, Inc. Columnist and product launch expert Tracy Hazzard, and industrial designer and product development expert Tom Hazzard, share the product launch formula, strategy, and resources that flip the odds and will make your product launch successful. The best products rarely win at retail, but the best product launch strategy does. After designing and developing 250 products that sold over 2 Billion dollars at ecommerce and mass market retail, the Hazzards know what makes a product launch successful. They know how to design out costs, how to design out risk, and how to design products that out sell the competition. Every week they will share the ‘the hazards’ of product launching, the keys to market fit, sourcing tactics, and expose you to the product launch team who really know what it takes to make it. International sourcing is full of pitfalls, what you don’t about product compliance, consumer product safety standards, proper documentation, strategic relationship building, you put your ability to deliver a safe, high quality product into the market, at great risk. Our experts have spent decades sourcing from Asia, and around the world. They share with you not only what can go wrong, but how to source your products using the best product development, quality control, IP security, and relationship building techniques. Tracy & Tom believe that turning your products from a liability to an asset, can build big brand valuation. With the right mix of product intellectual property – copyrights, trademarks, and patents, you can make your brand more valuable and competitive proof.Discover how the right things, in the right order, with the right resources defies product launch odds and will help you out design, our source, and out profit your way to retail success. Product Launch Hazzards is right for you, if you need help from a like-minded product launch expert community to teach you, support you, and answer your questions. If you need ongoing product launch advice, but can’t afford retainers, or the time to find and vet the right experts, then the free Product Launch Hazzards community is right for you. If you have been looking for a product launch mastermind in a no sales pressure environment, who will put you, your product, and your brand first, then please join us now.