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New product developments require thoughtful analysis. A few questions arise before developing a new product. How to develop new products, what market research it requires, how long it takes to make the product, how to protect it and how to turn it into a new brand.
A new product requires rigorous market research, figuring out holes in an existing product and building on that. Prototypes have to be made and tested. It requires immense research and development and clinical trials.
One such product is the electricity generating pavements that have been launched in London.
Shoppers walk down a path that generates electricity
called the Pavegen Walkway. The energy generated would then be used to power up street lamps, bird sounds for street walkers and bluetooth transmitters.