Episode #8: Stages of the Toy Product Development Life Cycle
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Have you ever proceeded down the path of developing your toy or game idea, to only realize that you weren’t sure what step comes next? If you’ve rushed down the path of sample making or prototyping your toy concept or invention, only to find yourself stuck in the process, then this episode is for YOU!
In this episode The Toy Coach breaks down the 3 stages of the toy product development life cycle. In this episode you’ll learn a definition of each stage, and the steps that will lead you toward successfully completing them.
Learn the main goals of every stage in the toy life cycle and how each stage best applies to inventors and entrepreneurs like you. This episode offers specific tips to help you avoid common pitfalls that even industry professionals experience.
Ready to listen? Click play above, or continue reading about this episode below.
WHAT IS THE PRODUCT DEVELOPMENT LIFE CYCLE FOR TOYS?
If you’ve ever wondered “What is the product development life cycle for toys anyway?” Don’t worry! You’re NOT alone!
The product development life cycle for toys is very similar to the product development life cycle for products. It includes 3 major stages and many people are unsure of what development stage comes first. You may be wondering yourself, what you should do if you have an idea for a toy or a game. Should you start with the product development stage? Or should you start with the product branding stage? Or should you jump right into the product marketing stage to build a following around your idea?
The 3 toy product development life cycle stages are incredibly important in your toy invention and toy development process. But there is definitely an ideal order for the development process. If done correctly, each product development stage will inspire and guide the next. So, let's get into the ideal product development cycle for your toy products.
The 3 Toy Product Development Life Cycle Stages:
1. Product Development
Product Development is more than just coming up with the idea for your toy invention. It includes fully exploring every avenue like materials, colors, mechanisms, and anything that could make your toy stand out. Don’t rush the product development stage because it is THE MOST important stage. Most toy companies spend 6-months to a year in this stage alone!
2. Branding
Now, I know it’s tempting to start branding at the beginning of the product development process, (and yes, it IS a good idea to have a general idea of your brand throughout) but the specifics should be set in stone once you have a finished product that is nearly ready to sell. Your brand identity will continually lead your future marketing efforts, which is why it is best to finalize your brand identity before moving onto stage 3.
3. Marketing
It’s important to focus on this 6-12 months before your product launches to build up the hype. Your first step should be to build an email list. Next, use Social Media to build your following on every social media site you can find. But, social media isn't the only way to engage. You can also attend trade shows, and attend niche events that would fit your product. Another way to build up hype and funds for your product is to launch a Kickstarter campaign.
So, this is all a lot, and I’m really just covering the basics here, but it’s just to show how much really goes into the development process of a toy idea.
It can seem overwhelming but when you break it down into different stages and focus on one task at a time, you can avoid the stress and enjoy the process.
Would you like an easy to follow development checklist to keep you on track?
I've got you! To simplify the process of developing your toy product, grab this helpful checklist to guide you along the way! Download this FREE checklist here.