In today’s highly competitive market environment, the choice of product development model is crucial to the success of an enterprise. This article will introduce three common product development models: public molds, private molds and patents, and explore the characteristics, advantages and applicable scenarios of each model.
1. Public mold
Public molds refer to products whose supplier factories can be easily found in the market. These products have usually been verified by the market and have been proven to be popular and good products.
The advantages of public molds are low cost and low risk. Since public mold products have been verified by the market, enterprises do not need to bear too much market risk. At the same time, suppliers of public mold products are usually easier to find, which also makes the procurement cost of enterprises relatively low. In addition, the production cycle of public mold products is shorter, and enterprises can bring products to market faster.
However, the competition for public mold products is also very fierce. Due to the existence of numerous public mold products in the market, it is difficult for enterprises to obtain higher profits through public mold products. In addition, the degree of innovation and differentiation of public mold products is low, and it is difficult for enterprises to establish their own brand image through public mold products.
2. Private mold
Private molds refer to products with only one supplier factory on the market. This type of product is relatively difficult to find, and the mold is not easy to copy. But as long as it can be found, suppliers are usually willing to OEM or carry out original design and manufacturing.
The advantage of private mold products lies in their uniqueness and differentiation. Since there is only one supplier of private mold products, enterprises can obtain higher profits through such products. In addition, private mold products are highly innovative and differentiated, and enterprises can establish their own brand image and increase the added value of the brand through private mold products.
However, there are certain risks in the development of private mold products. Since private mold products have not been verified by the market, enterprises need to conduct sufficient market research and testing to ensure that the products can meet market demand. In addition, the development cost and production cost of private mold products are relatively high, and enterprises need to bear more risks.
Three, patents
A patent refers to a product developed by the enterprise itself and applied for patent protection. The development of patented products requires enterprises to have a very in-depth understanding of the supplier’s factory. At first, enterprises can find factories that develop their own patented products to cooperate and sell patented products on behalf of them. Factories that can apply for patented products are usually strong. Therefore, enterprises need to have a very thorough understanding of the supply, which requires a certain amount of time to accumulate.
Another meaning of patent is to develop products by yourself and apply for patents, which is the most difficult product development model. This model requires enterprises to have strong R&D capabilities and financial strength. At the same time, enterprises also need to bear the cost of patent application and maintenance.
The advantage of patented products lies in their uniqueness and exclusivity. Since patented products are protected by law, other companies cannot easily imitate and copy them, so companies can obtain higher profits through patented products. In addition, patented products can also improve the brand image and market competitiveness of enterprises.
However, the development of patented products also requires certain risks. First, the cost of patent application and maintenance is high, which requires enterprises to have certain financial strength. Secondly, the development cycle of patented products is long, which requires enterprises to have strong R&D capabilities and market insight. Finally, patented products also need to face market uncertainty and risks.
Fourth, choose the right product development model
When choosing a product development model, enterprises need to comprehensively consider their own strength, market demand, competitive environment and other factors. For start-ups or small-scale enterprises, public mold products may be a good choice. This model can help enterprises reduce costs and risks, quickly launch products, and gain market share. For companies with certain strength and R&D capabilities, they can consider choosing private model products or patented products to improve the competitiveness and added value of their products.
In addition, companies also need to adjust their product development models in a timely manner according to changes in market demand and competitive environment. In the case of fierce market competition, companies need to continue to innovate and improve the differentiation and competitiveness of their products. In the case of relatively stable market demand, companies can consider using public model products to reduce costs and risks.
The choice of product development model is crucial to the success of an enterprise. Companies need to comprehensively consider their own strength, market demand, competitive environment and other factors, choose a suitable product development model, and adjust and optimize product development strategies in a timely manner to adapt to market changes and demands.