Analysis of the whole process of reverse thinking in cross-border e-commerce product development
Conceptualization: the starting point to inspire product creativity
On the road to cross-border e-commerce, many sellers often lack reverse thinking logic in product development, making it difficult to survive in the face of market changes. The new product development process consists of seven stages, of which conceptualization is a critical first step. Sellers can think about how to improve existing products through the lens of substitution, combination, modification, use for other purposes, elimination, reverse/rearrangement, etc. For example, simulated plastic bonsai replaces real plants as decorations, and more fashionable electric toothbrushes are designed.
Market research: the importance of verifying product ideas
Not all successful product ideas translate into successful business ideas. Ways to validate your product idea include sharing ideas in online forums, launching online surveys, starting a crowdfunding campaign, testing marketing, using Google Trends analysis, starting a product launch roadmap, and asking for initial feedback in forums. Market research also includes competitor analysis to analyze their weaknesses and strengths and identify niches where your products have an advantage over your competitors.
Planning product lines: Create a clear product roadmap
When designing a product, planning is a very important step. The product roadmap should be clear, using hand-drawn sketches to depict the product, with labels explaining various features and functionality. In addition, sellers also need to consider the product’s retail price, category, material packaging, labeling and overall quality, etc., which will affect how to market the product to target customers.
Prototyping: Creating finished products for mass production
The goal of prototyping is to create a finished product that can serve as a sample for mass production. Prototyping will look different depending on the type of product being developed. The easiest way is to prototype your own product, such as the principles behind making food and cosmetics. For toys, home accessories, electronic products, etc., sellers may need to create 3D rendering prototypes. With the development of 3D printing technology, model design can produce physical samples in a shorter time at a lower cost.
Building a supply chain: integrating required suppliers and resources
Once the product prototype is established, sellers need to start collecting materials and identifying production partners, that is, building a supply chain. Look for multiple suppliers and potential manufacturers for different materials in case there is a problem with one supplier or manufacturer. Ways to find suppliers include attending trade shows, online platforms such as Alibaba, etc.
Cost accounting: Develop a reasonable product pricing strategy
Cost accounting is a business analysis process where sellers collect all information and add up the cost of goods sold in order to determine the retail price and gross profit margin. Create a spreadsheet that includes each additional expense as a separate line item, including all raw material costs, factory costs, manufacturing costs, and shipping costs. If you can get multiple quotes from different materials or manufacturers during the building supply chain phase, you can add different data for each item to compare costs.
Conclusion
Cross-border e-commerce product development is a complex but orderly process. From conception to cost calculation, every step requires careful planning and execution. Through reverse thinking, sellers can better understand market needs and develop products that meet user needs, thereby achieving success in the market.