Step-by-step plan: Introducing a product on the Dutch market
Your business wants to put a new product on the Dutch market. This requires preparation. Such as market research, a feasibility study, and arranging funding. Read this step-by-step plan on how to bring your idea to the market.
Getting a new product to market takes time, money and energy. By doing research, you will know the best steps to take.
The first step should always be market research. You discover whether there is demand for your product or service. This allows you to see whether your plans are feasible. And it is a good basis for your marketing strategy. Read the KVK article on Market research to find out what to consider before you set out.
Perhaps your product has already been invented and protected by someone else. For example, with a patent. Or that there is already a product with the same appearance (design) on the market, and that this is protected with a design right. In that case, you may not imitate the product.
You can check this in patent databases, BOIP Design Register and in DesignView. In these databases you can also discover trends and developments in your field, get a picture of your (future) competitors and find (possible) cooperation partners.
Keep in mind that a product may also be protected under copyright or copy protection within the European Union (unregistered Community Design). Therefore, it is smart to also search in other places (on the internet, in magazines, in trade literature).
Launching a new product on the market must also be technically feasible. With a feasibility study, you test your invention for usability, safety, effectiveness, and appearance.
You could have a prototype made. This can be done in a FabLab (Fabrication Laboratory, in Dutch), a public digital workshop. You can also opt for the lean startup method to experiment quickly with your product innovation.
Your innovation must really be new in order to apply for a patent or design. This means that you should not disclose anything about it in any way, but keep it a secret. So, remember to use a confidentiality agreement when talking to others about your innovation.
With a non-disclosure agreement, NDA, you also reduce the chances of others getting away with your idea. You can draw up a standard confidentiality agreement linked to an i-DEPOT on BOIP's website. An i-DEPOT is an option to record an idea and get a date stamp for it as proof that your idea existed at a certain time.
Every product you make must be safe for users. This is why there are safety requirements for products. There are also requirements for product packaging and labelling.
Your responsibilities for product safety depend on your role and the type of product you make or sell. You also have responsibilities if you import or distribute products from a non-EU country. For each product, fill in the online tool to see which rules apply to you.
To further develop and market your new product, you will usually need money. Start looking for funding in time. Think of an investor, an innovation subsidy, or an innovation credit.
- Check out government financial schemes.
- Check out different ways to find funding.
A strong name for your product or service sets you apart from competitors. Such a name has another advantage: you can register it as a trademark. With a registered trademark, you are stronger if others want to misuse your name.
To avoid legal conflicts, it is important to check whether the name you want to choose is free. So, first check whether your name already exists and read the tips for a good search.
If you have a good idea, you do not want someone else to run off with it. That is why it is important to protect this intellectual property. You can do so, for example, by applying for a patent or registering the trademark or design. Read how to do this in protecting a product, service or invention, a step-by-step plan.
With a marketing plan, you decide how you will sell your product or service. And which target group and markets you will focus on. In this plan you can also determine the product price. You base it on the costs you incur. And on what the customer is willing to pay for it.
Networking is a good way to get in touch with potential customers. You can do this both online and offline. Think off trade fairs, online marketplaces, and a good social media strategy.
Check out the tips to find customers. Or request an address file from the Business Register to approach your potential customers.
Do you see sales opportunities abroad for your new product or service? If so, Dutch embassies and consulates will help you find possible trading partners to sell your product in a new country. Also check how to protect your innovation abroad. Because intellectual property rights can vary from country to country.
After you have launched your product or service on the market, the next step is to make it profitable and to keep it that way. To do this, look at production, sales, delivery time, service, and profit margin, among other things. This will help you see what you can improve in your production process.
Have you protected your product with a patent, for example? Then look at: