In the business world what are some ways to market your product to possible investors and to the general public .
I am a junior in high school and i would want to know that if i was going to launch a product how do i get as many investors interested in my product. But i would also want consumers to also be interested in my product as well. I am very interested in this field and marketing can be tricky. Thank you for any guidance. #marketing #social-media #business career
1. is there a realistic market for the product (why would someone buy it? how much would they buy? who would buy it? how much would someone be willing to pay for the product (if the cost to produce is more than someone would pay, that might be a good indicator to rework the idea)
2. what effort would need to go into producing the product? can you design and manufacture it yourself or would you need to work with engineers and production facilities?
3. how would the product get distributed to the market? how do you get the product to people that want to buy it? how do people find out about the product (advertising/marketing)?
4. what is the business model for different potential sales quantities? how much money goes out to produce the money coming in from sales? what would be the investors (and yours) return on investment over time?
5. what is the competitive environment? is the product unique? can a less expensive product substitute for this new one?
When you have answers to all these, then you put it together in presentation and -- very important -- into an elevator pitch that can get an investor interested in just a few minutes of you talking.