Product testing is important throughout the design process. While you are developing your product or service it's a good idea to keep testing the market to make sure you are still on the right track. You can do this by using:

• Focus groups - ask small groups of your target customers what they want from your product or service.
• Questionnaires - try to get as wide a sample as possible.
• Prototypes - show an early version of your product to customers. You may find that your prototype will go through several stages of development as you refine your idea.

You may need to respond to suggestions from users by modifying the design. Don't be discouraged, as most successful entrepreneurs do not view this as a failure, but as a learning curve.

It's a good idea to send your product to a large or very reputable potential customer or user. A positive testimonial will prove invaluable as you approach other customers.

You may want to consider testing even after your product goes on sale. Ongoing contact with customers can uncover both the shortcomings of your product and possible opportunities that you may have missed.

Once you have a final product, you can then set about building a brand. A brand includes everything that is visible to the customer, such as the product name, its packaging and its delivery.

Pricing your product or service

You will need to consider your pricing policy. You should consider pricing the moment you decide to take an idea forward as it will determine how much you can afford to invest in the project.

Establishing a pricing strategy for a new product or service is an important part of the development process. The price needs to be attractive to customers as well as make you a profit.

You should take the following factors into account:

• The price at which your competitors are selling to customers. Will customers be prepared to pay the price you want to charge?
• Is your product or service innovative or are you following a market trend?
• The selling channels you want to use - this will affect your promotional spend and distribution costs.
• How quickly you want to establish your product or service.
• The expected lifecycle of your product or service.
• How much you will need to charge to cover your costs.