Having an ‘idea’ and having an ‘idea that is valuable and will sell’ is an important consideration in moving a product forward. If someone has ‘money to burn’ then this step can be eliminated, however that case is probably a rare one. An inventor has to be able to assume a detached viewpoint of his idea in order to effectively and properly evaluate its marketability. The idea must be able to be flexible enough to change with the ‘needs and wants’ of those that may purchase it. In the long run every product is more or less intended to perform two purposes – fill a need, and be profitable.
Marketability is really just taking a good sound look at your product and the current market and making sure that they are complimentary and not in conflict.
Marketability consists of research that covers the idea that you have and its desirable benefits & features; evaluating and documenting its potential to make a profit; identification of your target consumer and their needs; refining your invention based on important feedback; and backing this all up with hard cold facts that can be shown to others. This is necessary in order to ‘sell’ someone on your idea and gain their support.
Read a little about Market capability at www.inventionconvention.com/ncio/inventing101/010.html
Here’s another short article on this point - www.mattyubas.com/invention-info/test-evaluate-idea.html
This article could fall in several categories presented here but it seem most applicable to this section since it really tries to impress upon the inventor the importance of a marketable invention versus just an invention for the sake of itself. This commentary caused light bulbs to start turning on. Thanks Ed!
www.tenonline.org/art/9105.html
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