Product Feasibility

There are plenty of different ideas, inventions and prototypes that are not feasible. While an idea may be perfect, the inventor simply doesn’t have the means to produce the product. Inventors need to take a serious look at three major aspects of product feasibility to understand whether or not their prototypes have a chance at success. Cost Inventors should first look at cost to determine whether or not the product is feasible. Inventors should work with manufacturers and marketers to come up with the manufacturing cost of the product. For some, this cost may be too high after considering the funding they have. For others, the cost is too high in terms of marketing, as consumers will not pay that amount for the product. Time The second aspect that inventors are going to want to look into is time. Manufacturers can help inventors understand how much time it would take to create each individual prototype piece, and how much it time it would take to build the actual product. Products that would take too long to manufacture may not be feasible, as the small amount of goods produced at once may not make up for the cost of manufacturing. Labor Products that necessitate high costs and high amounts of time often also require more labor. Certain products will require more manual labor, hiking up the overall price of the prototype. A high price due to labor may lessen the feasibility of the product. Processes Different processes are necessary to create different products. Product feasibility relies on the ability to run these different processes on a regular basis. Complicated and expensive processes may kill product feasibility. Inventors must take the time to understand how feasible their prototypes are. These inventors should work with manufacturers to understand the effects of these various factors and determine whether or not their products are feasible.