How to Make a ‘Bang for Your Buck’ Product ft. Mako Client!
Undoubtedly, we’re sure most people have heard of the term “bang for your buck.” Within the product design realm, with so many inventors focusing on unique ideas and inventions, a lot of effort within the product design process goes wasted to other aspects that neglect the value of creating a “bang for your buck” product. Most inventors may be under the assumption that if they were to create two products instead of one, they can begin to build a business with multiple products, however, why waste extra resources and money on building two products, when you can be the ultimate product? This blog explores the concept of how building a product with its design focused on being a “bang for your buck” can be a highly profitable product design desirable for any up and coming small business!
What is a ‘Bang for Your Buck’ Product ft. The ‘MVP’
Before discussing the idea of a bang for your buck product, it is best to help define what we mean by “bang for your buck.” Traditionally, the term is used amongst consumers who strategically look to invest in products that are either multifunctional, high in quality, are long lasting, or work in a variety of different situations. Although it is more preferable to hit all these great qualities in your future product, having about two or three of these qualities is just as good for your product. In terms of the inventor, creating a “bang for your buck” product follows creating a product with these same qualities, but instead you’re looking at creating a products that completes its function perfectly, is cost-effective for you to create, prototype, and manufacture, all while being made with the best, high-quality products. Overall, a building a ‘bang for your buck’ product essentially means you’ll be creating a prodtiable product design that will over all bring more gains and benefits to your business. Following Mako Design + Invents most trusted philosophy in product design, the MVP, is a great way to brainstorm and create a profitable product design that is easy to product and introduce to the market of your choice.
Why A ‘Bang for Your Buck’ Product Makes for a Profitable Product Design
Starting out from a small business means that you have to consider a lot of different factors. One of the major areas of stress and worry when starting a small business is managing finances and costs. The reason why a bang for your buck product is more preferable for your small business is because that in the process of creating a product, any successful product that completes its function while being inexpensive to make means that you can ultimately gain more profit for your business. On the other side of the spectrum, if your product gains attention and praise for being a bang for consumers buck, you can gain great positive reviews and reputation amongst consumers and against competitors. Meaning that the profits that come from your profitable product design are not limited to financial profits, but also marketing and brand reputation profits.
A Profitable Product Design from One of Mako’s Clients!
Some of our most successful clients that are running great small business are perfect examples of what is means to benefit from having a “bang for your buck” product. Some of our favorite products that are the quintessential definition of “bang for your buck” is The Cheese Sleeve! This simple, but extremely useful product is both inexpensive to make, and fulfills its simple function – to keep opened cheese packages fresh in the fridge. Not only is the product easy and inexpensive to make on the inventors side – but in terms of the consumer, the Cheese Sleeve fulfills its function for the consumer (keeping their opened cheese packages fresh in the fridge), but also helps saves the consumers money (Through keeping the consumers cheese fresh longer, they don’t need to throw it out and replace it as fast). The Cheese Sleeve is a the perfect example of a profitable product design.
If you have a great new invention and you’d like to learn more about this process, get in touch with MAKO here and visit our website to find out more. Feel free to give us a call at 1-888-MAKO and we can set you up on a call with our product analyst!
Article Author: MAKO Design + Invent
MAKO Design + Invent is a full-service consumer product development firm servicing both high-growth corporate manufacturers and invention startups. With a 25-person team across 3 offices (Austin, England, Toronto), MAKO has complete in-house industrial design, mechanical engineering, and electrical engineering design and prototyping services. To assist our start-up inventor clients, we also have a subsidiary branch called Mako Invent that, in addition to above, helps start-ups with patenting, strategy, marketing, and sales/distribution for all consumer product categories. For our corporate clients, MAKO Design develops world-class consumer electronics designs through our industrial, mechanical, and electrical design teams.
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