
The inventor's practical guide
By Daniel Paquette
Competition
Independence:
The use of certain products is closely linked to the use of complementary objects. For example, one only needs to think of the interrelationship that exists between compact discs and compact disc players.
Current competition:
Competition between similar products is primarily based on criteria such as selling price, performance, appearance, and durability. Furthermore, the presence of competitors greatly influences how easily a new product can enter the market. It is also important to consider how the competition might react to your product's arrival. This will put you in a better position to respond to your competitors' various strategies.
The function:
The ease with which an object can be used greatly influences its popularity with consumers. Indeed, a product that offers nine advantages over the competition but has a more complex operation is unlikely to appeal to the majority.
Sustainability:
Savvy consumers know very well that it can be advantageous to pay a little more for a given product, knowing that it will have a longer lifespan than a less expensive competing product.
