Question
What should one research before creating a product? How much it will cost to compensate employees How much money investors are willing to invest in the product What is required to make the product The number of products that will need to be produced
Answer
4.3
(288 Votes)
Wilbur
Elite · Tutor for 8 years
Answer
One should research the cost to compensate employees, the amount investors are willing to invest, the requirements to make the product, and the number of products that will need to be produced.
Explanation
When creating a product, several business considerations are crucial:1. **Cost to Compensate Employees**: Understanding employee compensation helps in budgeting and financial planning.2. **Investment Willingness**: Gauging investors' interest and how much they are willing to invest ensures sufficient capital for product development and launch.3. **Requirements to Make the Product**: Knowing the materials, technology, and expertise required ensures the product can be created efficiently and meets quality standards.4. **Production Volume**: Estimating the number of products needed helps in resource planning and scaling production to meet demand.Research in these areas provides a comprehensive overview of the feasibility, financial requirements, and market potential for the new product.