EnerTech Services can help you develop your products and services. Our staff has over 100 years of experience in the developmental process for new products and services. We will either conduct market research for you or work with you directly to develop your products and services into profit centers. We offer the following guidelines as a basis for product development.
New Product Development
In evaluating a new product
or service the following set of guidelines should be used to
direct the research. Products sought, should exhibit the four
following characteristics.
1. The product should be in some way
allied to your industry to capitalize on your existing
knowledge base.
2. In order to charge for these offerings, the product or service
should have added usefulness or value
in the eyes of the customer.
3. There should be a synergistic benefit that your current position
makes use of (i.e. mass billing capability,
recognized experts in electrical matters, or your good name).
4. If you do not have expertise or capability in-house then ally
with someone who has.
These guidelines set the stage for a
successful venture but they do not insure it. Regulatory and
legal issues need to be examined thoroughly. Fair trade laws,
banking regulations, insurance regulations, product safety and
liability issues, trademark and copyright laws, and tax implications
may bring new and different requirements to a utility offering
non-traditional products and services.
Product Research
Basic product research is needed
to examine the technology (mature or needs support), the industry
(size, growth potential), and the benefits to your utility (increase
sales, better service/PR or an entirely new idea).
Product Research
A. Technology (mature or needs support)
B. Industry (size, growth potential)
C. Benefits to Utility (increase sales, better service/PR or
an entirely new idea)
Market Research (local not national)
Market research is used to examine consumer demand and determine
the role of consumer education and advertising.
A. Determine consumer demand locally for the specific product(s)
being considered.
1. Survey customers directly
2. Get detailed market information
from manufacturers
3. Review industry studies for
market growth potential.
4. Determine sales potential in
your Territory.
B. Determine role of consumer education
(Determine consumer product knowledge)
1. Survey also determines product
knowledge.
2. Inventory internal and external
educational materials available.
3. Get potential suppliers product
literature.
4. Outline advertising and educational
campaign.
C. Determine current delivery systems
(Could you buy into something)
1. Inventory local dealers of like
products.
2. Inventory all manufactures of
proposed product line.
3. Select manufactures and products
based on price, delivery, warranty etc.
D. Assess competition (Seek trade ally
status, not we're taking over)
1. Review other utility programs
to learn of potential problems.
E. Determine profit potential
1. Assemble costs and sales projections
for analysis.
2. Do a financial analysis to determine
profit potential.
3. Conduct risk analysis.
[Solar
Services] [Market Research]
[Projects] [Links]
[Training] [Contact
Us]