Product Conceptualization and the Creative Mind

It is believed that people have unlimited needs and wants, especially when trends are
everywhere that may or may not stay for too long. People tend to crave for something new as the
market is very competitive and each company race to create a better version of each other’s
products.

As entrepreneurs, we want to surprise our future customers by being innovative with our products.
Creativity is needed because:

1. This can start a trend where customers would praise the originality and creativity behind the
product.
2. Innovations can create a prototype that can lead to big companies buying the idea.
3. A small business can turn into a big and profitable business if the product affected large
parts of the market and the world.

Examples of creative and great innovations that have revolutionized the market:

1. Apple – This Company is well known for creating the first smartphones in the market. As
time goes by, many brands have been following its footsteps to attract customers.
2. Nintendo – With the big boom of the Nintendo Gameboy, many companies in the gaming
industries have tried to compete and outsell with Nintendo’s portable devices, namely Sony
Playstation’s PSP and PSVita; However, Nintendo still managed to create a better device
that matches the modern technology and the taste of people in gaming at the present time,
and with this, they created the Nintendo Switch.

Product Development and the Technical Mind

As an innovator, entrepreneurs should also consider the equipment and materials used in
creating a product, as technology is far more complex to implement at the present time. It is also
advisable to ask guidance from experts in the field to reduce damage and cost, and as entrepreneurs,
there should be an attitude in being open to constructive criticism and suggestion as it shed light to
flaws and defects of the product that needs to be fixed.

Technicality is required in being an entrepreneur because:

1. It can make the product cost less to produce.

2. Quality AND quantity are both guaranteed. (A product that is easy to make for mass
production can still be made out of materials that do not cost much)
3. It can provide efficiency for the customers.