May 2021, 10

Product Development in E-Commerce

Feyza Uzun
| Blog
Product Development in E-Commerce

What Is Product Development In E-Commerce?

In e-commerce, product development is the whole of the work that covers the process from turning these ideas into products and putting them up for sale in order to get ahead of their competitors by producing new ideas. This process can be summarized as forming the idea and converting it to a prototype, R&D and production phase, collecting feedback, developing the prototype according to these notifications and starting mass production. While all these processes are considered the kitchen of the business, so to speak, pricing and marketing strategies are created in parallel with these studies.

Why Is Product Development Important?

Every product that is developed and successfully launched is a new market, every market is a plus for companies, and every successful product is a new chance to stand out from the competition. In this context, almost all well-established companies work tirelessly on product development in order to be one step ahead of the competition, improve market share, reach new audiences and become a company that offers solutions. One of the best examples of this is the Apple company that almost everyone knows today. The company, which was on the verge of bankruptcy in 1997, is the first company with a market value exceeding 1 trillion dollars thanks to the new technologies it introduced. With its iMac, iPod and iPhone products, Apple still maintains its top position in all sectors it competes with. It can continue this success thanks to the new products it has developed in each product group.

Product Development Tips In E-Commerce

Consider Customer Feedback

If you want a product that you develop and launch to achieve long-term success, you have to care about the opinions of your customers who buy that product. Because no matter how much you test on the production line, you may not catch many of the errors seen by the end user. Thanks to the feedback from the consumer, you will have the chance to continue to improve your products and to realize a product development process in line with the 6 sigma approach.

Also Follow the Comments Made on Competitor Products

Also follow the comments made on the products produced similar to the product you have developed. As a matter of fact, in those comments, you can find why the consumer chose the product, the process he went through after owning the product, and a full review of the product from the consumer's perspective. In this way, you also have the chance to identify the mistakes of your competitors in product development and to easily eliminate these mistakes from your own product.

Build Your R&D Budget

Product development in e-commerce brings many costs even before mass production begins. R&D is your indispensable assistant before every production in order to develop correct and successful products. It is also a fact that behind every successful product, there are successful R&D studies. For this reason, we recommend that you allocate a serious budget for R&D studies.

R&D studies, which have been on the rise in our country in recent years, can reveal ideas that will reduce product costs in the field of production and marketing, as well as studies such as preliminary preparation, planning, feedback analysis for each product produced within your company.

Prototyping and User Testing

A functional prototype that you will create while developing a product in e-commerce also provides you with a detailed data analysis about the product. While obtaining important data such as calculating the production process and costs of the product thanks to the prototype, you can also put the product into service for testing by users and collect the feedback and identify errors and deficiencies before proceeding to mass production.

Developing products in e-commerce is a serious and important process. The more important one is the sales and marketing activities of the developed product. We have mentioned many times that you need a platform to sell the products you have developed and the features that you should pay attention to when choosing this platform. With Comwize e-commerce solution, you can have the opportunity to manage all processes after product development in e-commerce.