Archive for the ‘Licensing Products’ Category
Wednesday, April 11th, 2012
Duquesa Marketing
www.DuquesaMarketing.com
Press Release
For Immediate Release
Contact: Geoff Ficke
859-567-1609
gficke@msn.com
Geoff Ficke to Be Interviewed on The Buzz on Z Talk Radio on April 16th at 8:30 CT
Duquesa Marketing Founder and Expert to Discuss Best Jobs for the Future – Create Your Own!
Florence, KY Nancy Ficke, General Manager, announced today that her Branding and Product Development firm Duquesa Marketing has scheduled another in a series of national radio interviews for Company President and Founder Geoff Ficke.
“Geoff Ficke will appear on The Buzz with Hosts Scott Rorek and Zita Ost April 16th at 8:30 am CT / 9:30 ET on Z Talk Radio (www.ztalkradio.com)”, said Mrs Ficke. “The discussion will be about the opportunity to take hold of your life and career options by exploring Entrepreneurial opportunities that people find around themselves in their hobbies, homes or jobs”.
“We work with hundreds of inventors, small and micro-businesses and entrepreneurs every year”, said Alexis Bruning, V.P. of New Business Development at Duquesa Marketing. “Many of these people carve out successful enterprises by capitalizing on things they experience in their environment. This is a topic that Geoff is passionate about and is always happy to share with an audience”.
Duquesa Marketing has assisted numerous individuals and enterprises start and expand Consumer Product opportunities over the past four decades. The award winning firm has vast experience in all Sales and distribution channels in the United States and internationally.
Posted in Economics, Entrepreneurialism, Innovation, Launching new products, Licensing Products, Manufacturing and Production, Marketing, Marketing Consulting, Marketing New Products or Ideas, Marketing Product Development, Press Releases, Product Development, Talk radio interviews
Wednesday, April 11th, 2012
by: Geoff Ficke
Consumer Product Market Penetration is Much Easier If Exclusivity Is Key to the Lines Branding Strategy
Recently I had the opportunity to visit and work several Trade Shows while on an extended business trip through Europe. One was a huge Beauty Product expo in Italy, another a jewelry fair in Switzerland, and a Gourmet Food Show in England completed the itinerary. Each of the venues would be considered apex convocations within their industry space. Each offered a range of products touching many price points.
As any consumer of economic news knows, today Europe is struggling and in a severe commercial downturn. Consumers are caught in a severe pinch between sky high government taxes and budget deficits, slowing growth, job losses and a real decline in personal incomes. The fear is palpable in many obvious ways, even to a foreign traveler.
And yet, the Trade Shows I attended were each doing their most brisk commerce in the categories that offered the more expensive, exclusive product offerings. I queried any number of vendors from across a broad range of retail price positions. Inevitably the higher end products on offer reported that they were doing well. The mid-market brands seemed to be suffering most. The mass market lines were of course also doing well as many middle class shoppers were trading down in these uncertain times, although many mentioned that they were cutting margins to maintain market share.
It is a fact that in many product categories, exclusivity as a marketing strategy can be an easier route to store shelves than almost any other model. In higher-end markets there is less pricing resistance, and thus greater opportunities to enjoy fatter profit margins. Competition can be much less severe. Obstacles to gaining distribution are much less in specialty
stores and boutiques than exist in chains and mass market discounters.
Pet products that cater to passionate owners often seem eccentric. Jewelry, cashmere sweaters for dogs, Halloween outfits for cats and luxury pet beds seem extreme. But, they sell. A visit to any Pet industry Trade Show will confirm this fact.
Cosmetics, Jewelry, Couture Fashion, Footwear, Automobiles, Gourmet Foods and Drinks, Electronics, Luggage, and many other product categories that provide exclusive brands are booming. Brands in the mid-market range are being squeezed. Private label offerings are picking up market share, though margins are squeezed in order to lower and hit needed price points.
The market for Skin Care products priced over $100 per ounce is sizzling. Gourmet Food brands are enjoying a golden age thanks to the popularity of celebrity chefs and food networks. Jimmy Choo and Manolo Blahnik, among other show designers, have elevated more than the heels on their products. An order for a new Ferrari or McLaren sport car, paid up-front with cash, will earn the buyer a spot on a waiting list with a 2-year wait for delivery of their vehicle. Every Hermes Birkin bag is pre-sold each season before the purses ever hit store shelves. The valet parking concession at Harrods and Harvey Nichols in London is constantly backed up with a constant cue of chauffeur driven Rolls Royce and Bentley automobiles.
Launching Consumer Products with an Exclusivity distribution Marketing Strategy and Sales Model is a course we often we choose for client projects. Once a market has been penetrated, and consumer demand is stimulated for a product it is always an option to replicate the item in a lower price point presentation. You can always come down in price.
Posted in Branding, Business Model, Cosmetics, Entrepreneurialism, Footwear products, Hunting Products, Innovative Products, Jewelry Accessory Products, Launching Menswear Products, Launching new products, Licensing Products, Manufacturing and Production, Marketing, Marketing Consulting, Marketing Cosmetic Accessories, Marketing Cosmetics, Marketing New Products or Ideas, Marketing Product Development, Marketing Skincare Products, Pedicure Products, Pet Products, Product Design, Product Development, Skincare Product Development, Skincare Product Launches, Toy Products
Tuesday, March 20th, 2012
Duquesa Marketing
www.DuquesaMarketing.com
Press Release
For Immediate Release
Contact: Geoff Ficke
859-567-1609
gficke@msn.com
Duquesa Marketing Client Pedi-Protexx™ Launches at COSMOPROF Bologna to Great Acclaim
Retailers and Distributors from Over 60 Counties Flock to Secure Licensing opportunities to Secure Perfect Pedicure Protection
Florence, KY Nancy Ficke, co-founder and General Manager of international, award winning Consumer Product Development and Branding consultancy Duquesa Marketing, announced today that over 60 major international distributors and retailers have approached her firm to secure distribution rights to Pedi-Protexx, a novel new pedicure accessory beauty product after viewing the line at COSMOPROF Bologna.
“We were overwhelmed at the rousing response to our client’s product and the unique features of the Pedi-Protexx”, said Ms. Ficke. “COSMOPROF Bologna is the largest, most prestigious beauty product show in the world, and the performance of Pedi-Protexx made it a standout in this mega-competitive milieu”.
“The interest in a simple, elegant product which aids in the application of a pedicure treatment was amazing”, said Alexis Bruning, V.P. of New Product Development for Duquesa
Marketing. “We were continually told that Pedi-Protexx was one of the most original, different products at COSMOPROF.
“In coming weeks we will be making a series of announcements as each country’s specific distribution deal is concluded”, said Nancy Ficke. “The interest in distributing this unique pedicure accessory is growing exponentially as a result of the impact the Pedi-Protexx generated last week at the Bologna show”.
Posted in Entrepreneurialism, Fashion Design, Footwear products, Launching new products, Licensing Products, Manufacturing and Production, Marketing, Marketing Consulting, Marketing New Products or Ideas, Marketing Product Development, Pedicure Products, Press Releases, Product Design, Product Development, Salon Products, Shoe Products
Saturday, January 14th, 2012
by: Geoff Ficke
Converting an Idea to Income Is a Process That Requires Planting and Fertilization, Not Hope and Dreaming
Under the category of inexperienced blind hope, a surprising number of people that approach my Consumer Product Development group with a new business idea want us to find someone who will buy the concept in its undeveloped form. This always amazes, even after so many years of hearing these vapid elevator pitches. A person has an idea, they have performed little or no due diligence, and they believe it has commercial value. Daffy!
Behind every existing product, service or successful business there was originally an idea. In order to achieve any level of viability and ultimately market success, the idea was planted and fertilized with work, research, investment (money and sweat), strategizing, and so many other necessary layers of work product that confirm the concepts usefulness or lack thereof.
A person that attempts to peddle an idea without conducting necessary due diligence is immediately obviated as a wastrel. Ideas are a dime a dozen, actually they are worth 10 cents less than a dime. The reasons so few people become successful entrepreneurs, even though most people dream of entrepreneurial conquests, is that they are dreamers not doers.
I recently took a call from a supposed entrepreneur who was looking for someone to buy his toy idea. In response to my qualifying probes he was entirely negative. He did not have patent filings. He did not have 3D CAD art. He did not have, or worse, want to build rough prototypes, so, of course, he was never going to have production quality prototypes. Without 3D CAD art and prototypes he was never going to discover manufacturing protocols and Cost of Goods.
In short, he was the ultimate dreamer. Many of these poseurs are serial stalkers of investment, partners and/or licensing relationships. They troll the internet endlessly looking for a home for their get-rich-schemes. The time and effort that could be devoted to productive due diligence is wasted on blind hopes and dreams.
I have counseled clients, students and prospective entrepreneurs for many years to avoid taking shortcuts at all costs. Resources are more easily found and utilized today than ever before. Many, many years ago, when I launched my first product there was no e-mail, internet, cell-phone, Software, Google or WikiPedia. Heck, there weren’t even fax machines or FedEx. Every step of the process was slower and more arduous than today.
The ease and availability of contemporary resource tools makes the launching of a new Consumer Product or Small Business a much simpler process. An idea which is not accompanied by at least a smattering of supporting design and data is a non-starter. Worse it brands the presenter as an amateur.
Let’s assume you are shopping for shoes. If you visited a shoe store, and the store only had pictures of shoes, but none to try on, how would you react? Of course, you can buy shoes on-line, but typically you know the brand, style and size you need and search for an on-line match at a price. When in a store, you want to touch and feel the products you seek. It is the same with venture capital and licensees.
The market is flush with opportunities for investment. Money always seeks the most market ready products. You have no chance to compete for seed monies or licensing unless your project is fully vetted. A successful entrepreneur always plants and fertilizes their work product to maximize chances of achieving a great result.
Posted in Business Plans, Entrepreneurialism, Launching new products, Licensing Products, Manufacturing and Production, Marketing Consulting, Marketing New Products or Ideas, Marketing Product Development, Product Development
Saturday, January 14th, 2012
by: Geoff Ficke
Adopt a Pre-Sell Strategy to Drive Interest in Your Project Before Seeking to Attract Investment Funding
Recently I met with a prospective client who presented my Consumer Product Marketing and Branding Consulting firm with an overview of his project, its development status and needs. The opportunity seemed to have legs until we reached the point in the discussion where funding took center stage. I listened as this entrepreneur, with great passion and skill, pitched his reasoning and support data for a funding round that he felt necessary to move ahead.
I took the “devil’s advocate” approach that any project faces when seeking investment from angels, investors, venture capital or partners. My questions were the standard fare that I have heard professional investment groups pose time and time again. As the cross examination continued the passionate, confident entrepreneur began to wither.
The simplest question that I asked, and one that is always of paramount interest to investors: “Do you have Purchase Orders”, drew a telling lack of response. This very smart presenter had never considered the question and the possibilities that a positive response would have for his proposed enterprise.
Purchase Orders from target customers, stores, distributors and wholesalers indicate what we call a “Proof of Product Life”. Entrepreneurs are always excited about their product or service. They have reams of documentation that they include in their Business Plan to attempt to impress investors with the promise they offer. Focus Groups results are nice. Orders and successful test markets, no matter how small are much more valuable.
How can an inventor, entrepreneur or small business generate sales orders before receiving an adequate funding round? The prospective client I was meeting for the first time asked exactly this question. I then described several Bootstrapping and Pre-Sell strategies that he had never considered.
We often utilize a Bootstrapping Pre-Sell plan for clients. This is done without going to the expense of an inventory build out. We have a host of vendors that work with us to create Production Quality product prototypes, CAD Art, Release Packets, Point-of-Purchase display, Sales Collateral, Web-Sites, Attorney’s, Social Media, Video Production and much more that we use to generate Purchase Orders from Trade Shows, EXPO’s, showrooms and on-line sales. These vendors know that once sales traction is achieved they will have a long term relationship with a happy new client. They are more than willing to hand craft a display or sign unit carton or brochure for minimal cost.
Recently we attended a large Trade Show in Hong Kong with a client to launch a new Skin Care regimen. We attended with four dozen Production Quality prototype samples fully dressed with graphic packaging. Our display vendor hand cut three Point-of-Purchase displays. The booth display visuals, video loop, Sales Collateral, Product Folios and Distributor Contracts were one-off produced just for the show. The product performance demonstration was spectacular and the stand was swamped with interested Asian distributors. We have concluded deals for exclusive territory sales of the line with nine firms. Pre-Selling works!
With these agreements and the initial Purchase Orders they have generated we are organizing International Bank Letters of Credit to fund the initial full inventory build and provide working capital. Investors are now keen to review the opportunity and, with this type of “Product Proof of Life” successfully achieved, they have less leverage in negotiations.
A successful Pre-Sell campaign in the American market can lead to securing investment, but also Partnering, Licensing, Receivable Finance or Factoring options for funding operations and growth. We have utilized Factoring for many years for our own businesses and clients. Sales orders open doors.
Next month we will attend a Jewelry trade show and a Men’s Fashion trade show with client products that will be launched utilizing a Bootstrap Pre-Sell campaign. More prospective entrepreneurs should utilize this strategy. The process involved in successfully winning a funding round is beyond the pale for most startups. Meeting an investor with a plump order book creates an entirely different leveling of the playing field. Take advantage of this inexpensive, simpler strategy to launch your product.
Posted in Business Plans, Entrepreneurialism, Launching new products, Licensing Products, Marketing, Marketing Consulting, Marketing New Products or Ideas, Marketing Product Development, Product Development, Small Business
Saturday, January 14th, 2012
by: Geoff Ficke
5 Tips for Small Businesses and Start-ups to Use To Appear Bigger than They Really Are
For many years I have worked almost exclusively with entrepreneurs, inventors and small businesses seeking to start, or grow a business against daunting odds and competitive disadvantages. We specialize in Consumer Products, packaged goods that are marketed in every category and sales channel. Despite the deck seemingly being so stacked against these micro-enterprises it is amazing how many succeed.
One of the lessons we counsel and preach is the importance of acting and presenting the business to consumers and merchants as being more solid and substantial than it in reality is. No one wants to do business with a firm that appears to be struggling. People smell weakness. They are attracted to success.
One of our goals for clients is to be able to meet key decision makers in a specific category and open doors that seem closed to most fledgling start-ups. In order to achieve this we must have the client act like the puffer fish and blow themselves up to appear bigger and stronger than they are. How can this be accomplished?
The edifice that is presented as the core of the business can be inflated with creativity and a bit of illusion. It is essential that entrepreneur’s utilize every tool available to level the playing field as much as possible. Here are 5 ways to embellish the appearance of strength for of a start-up.
1. Have a professional, original, customized Branding Strategy. Colors, icons, lyrical Branding Statements and graphics that work as one are crucial in differentiating the Company and its products and services from competitors, large and small.
2. Your place of business and mailing address speak volumes about your firm and product. Most start-ups cannot afford an office in Beverly Hills, or London. They can rent a mail box service in a prestigious zip code. For meetings, there are impressive offices with secretarial services that can be secured by the hour or half-day.
3. Put some effort and diligence into building and editing your web-site. The only thing worse than not having a web-site is having a mass market template that screams “unprofessional”. Currently, there are an endless number of do-it-yourself templates available to guide construction of a web-site. The construction is not as important as the content. Do not take shortcuts on content.
4. Sales collateral stays with the prospective buyer, consumer or merchant long after you physically vacate the premises. Make your brochures, business cards and samples first class.
5. Use production quality prototypes to pre-sell your product at trade shows, fairs and to investors. We typically pre-sell every project we are engaged to manage for our clients. We do not want them investing in building inventory until we have secured orders, letters of intent and confirmation from key industry decision makers that the product on offer is desirable and commercial. Production quality prototypes are the key to gaining this crucial proof of product life.
We have utilized this simple menu to enhance any number of start-up businesses that we have introduced as Managing Consultants. It works for every category of Consumer Product including Toys, Gourmet Foods, Cosmetics, Fragrance, Aromatherapy, Hardware, Pet Products, DIY, Jewelry and many more. These are tools that are invaluable when bootstrapping an under-funded business, product or service.
Posted in Business Plans, Entrepreneurialism, Launching new products, Licensing Products, Marketing, Marketing Consulting, Marketing New Products or Ideas, Marketing Product Development, Product Development
Tuesday, December 27th, 2011
by: Geoff Ficke
5 Questions That Must Be Answered Before Attempting to Fund or Launch Your Consumer Product
I am constantly amazed at the naivety of first time entrepreneurs and inventors when it comes to the due diligence they must conduct in order to get their idea, concept or prototype to market. Even with the amazing information tools at hand in the 21st century, so many still try to fake out the marketplace by taking shortcuts. This is the equivalent of death by neglect.
There are 5 questions that must be organized and perfected before a new product can be considered ready for preparation of a fully documented, well-crafted, customized Business Plan.
Question 1: Do you have a production quality prototype built, a unit that can demonstrate the full functionality, features and benefits of your product?
This provides the base template of everything that must follow in pursuing accurate assumptions on which to base your strategy for investment, marketing strategies, sales model and financial projections.
Question 2: Have you assembled and distributed Release Packets to multiple manufacturing/production sources?
The Release Packet is the blue print and content map that producers will utilize to conduct proper time, assembly protocols, manufacturing standards required, and estimate production costs for your products build out.
Question 3: After choosing the factory that provides best service, lead times and quality control, have you been given a dead-net Cost of Goods to produce your item in mass production volume?
Dead-net Cost of Goods means cost to produce, package, handle, ship (by ship and container if off-shore production), freight-customs-duties, local freight from port of landing to your destination for product fulfillment, all inclusive. This is the real Cost of Goods that is the first and most crucial element necessary to create an exciting, well-documented Business Plan.
Question 4: Have you created a Sales Model that works for your enterprise, and for all up-channel re-sellers of your product?
Different Consumer Product categories must utilize Sales Models that factor many variables into the pricing equation. Some product categories require heavier Sales promotion budgets (Cosmetics, Skin Care, Toys, Games, etc.). Others require strong levels of store support for display, co-op advertising and point of purchase signage (food, drinks, oral care). Limited distribution, exclusivity models are built on a low volume, high retail model.
Question 5: Why is the Sales Model so important, and why do so few Entrepreneurs devote enough time, energy and research to perfecting this crucial building block of their Business Plan?
The second half of this question is easily answered: Some do not know how to detail their Sales Model, some do not want to put in the effort, and others do not understand the process required to achieve investment, licensing opportunities, partnerships or sales traction in a brutal marketplace.
The Sales Model (based on Question 3: Cost of Goods) is so very important because it is the “alpha” assumption that supports every declaration built into a Business Plan. If the cost to produce, and thus the selling basis for a product cannot be torturously defended every other element and assumption included in the plan will fall of its own weight. Investors will see this immediately and bail.
I write this after a particularly busy month of reading and hearing elevator pitches for projects that have been almost uniformly under-vetted. Some of the concepts might have even been commercially viable. However, when I ask these 5 questions and hear crickets on the other end of the phone line, I know I am not dealing with a serious, committed, driven entrepreneur, and I am not alone. Every other investor, venture capitalist, licensee and buyer I know experiences the same disappointment when exposed to plans built on quicksand.
Posted in Branding, Business Model, Business Plans, Entrepreneurialism, Launching new products, Licensing Products, Manufacturing and Production, Marketing, Marketing Consulting, Marketing New Products or Ideas, Marketing Product Development, Product Development
Tuesday, December 27th, 2011
by: Geoff Ficke
Customizing Products and Services Presents Entrepreneurs a Great Way to Bootstrap a Business
We live in a world where mass production and scalability have enabled consumers around the world the opportunity to enjoy a wider range of Consumer Products and Services than ever before. Large scale production drives down prices. Items that were once luxuries are now within reach of masses of consumers on every continent.
Overwhelmingly the benefits of scale and industrialization are beneficial to society. Jobs, distribution opportunities, global trade and finance have all thrived in large part because of the benefits of a consumer driven world. The Benetton sweater or MAC cosmetic that is purchased in Denver is the same as a unit of either sold in Sydney.
There is a downside to mass production, a downside that presents opportunities for those seeking to position their enterprise successfully within the whirl of this hyper–competitive consumer marketplace. Most mass produced products are impersonal. They offer value, utility and uniform performance features. They do not, however, differentiate themselves significantly from competitors. This is where the creative and craft minded producers can maximize their offerings.
Hermes purses and scarves are famous, but simple examples of a Brand that has been built from scratch, painstakingly over time and by being extremely protective of distribution channels for their limited production, hand crafted products. Hermes controls the price and design of each unit produced with a discipline that borders on fanaticism. When a design becomes popular and demand soars, the family owned Company caps production far short of maximum sales potential. This is a classic example of a limited distribution strategy that serves to increase Hermes’ product desirability among discerning consumers.
Ferrari automobiles, Zegna menswear, Piaget watches, Tory Burch fashions and La Prairie Skin Care and Cosmetics are other examples of Brands that have created world-wide franchises by avoiding any taint of a mass production model. They sell service, customization and personalized product that elite customers demand. The strategy does not need to be limited to exclusive couture brands, however!
The Branding and Marketing Consulting firm that we manage utilizes many different forms of personalized service or customized product assembly to differentiate our clients. In order to be able to compete with behemoth, multi-national brands a new company must be able to identify their Unique Selling Proposition (USP). A better ingredient story or a better mousetrap design will not suffice.
Recently a prospective client approached us with a Perfume concept. The Fragrance world is huge and brutally competitive. The perfumer we met with was keen to commercialize a range of scents, mainly by utilizing generic top notes. We spent a good deal of time trying to define a USP that would differentiate her product, while creating a niche she could occupy. The final, agreed suggestion was to sell a value added personalized blending service with each offering customized, value added and unique to each client. There are a number of added special service features which insure that the Brand will be perceived as unique by her “alpha” clientele.
We have utilized one form or another of this strategy for Gourmet Food products, Toys, Cosmetics, Wellness regimens, Service Providers and many other client projects. An important feature of this strategy is the opportunity to bootstrap the product or service when limited resources are at hand. Local sales can be leveraged to regional sales and beyond. The enterprise can be grown at a pace that is more easily handled by thinly resourced entrepreneurs.
Red Bull, Snapple and Arizona Iced Tea did not start as national and international brands. They were bootstrapped. They found holes in saturated, developed marketplaces and they filled niches. This model is available to creative entrepreneurs who are driven to compete, but understand that they must deal from a different, smaller deck of cards.
Posted in Branding, Business Model, Entrepreneurialism, Launching new products, Licensing Products, Marketing, Marketing Consulting, Marketing New Products or Ideas, Marketing Product Development, Product Development
Thursday, October 27th, 2011
by: Geoff Ficke
The Old Adage “You Get What You Pay For” Is Especially Important to Service Providers in Today’s Economy
The 19th century British essayist John Ruskin once presciently stated, “There is scarcely a thing in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey”. Great wordsmith that he was, Mr. Ruskin’s stylish prose has been re-engineered in more modern form to become the universal adage “You get what you pay for”. People universally understand this to be true, even if they do not always practice the rule in their own dealings.
I earn my living as a Consumer Product Marketing Consultant. My firm sells a full menu of services. We use a variety of associated independent vendors who sell their services in specific areas to our clients. Patent Attorneys, Product Development Engineers, Graphic Artists, Chemists, Nutritionists, Manufacturers, Display Designers, Prototype Builders, Pattern Makers, Lithographers, Packaging Engineers and dozens of other specialists collaborate with us to provide a turn-key Product Development service.
My job is to save clients time, mistakes and money. We are good and very successful, having been doing this type of work for over 40 years. The specialists we involve in each project are hand chosen for their expertise, past successes and the value they bring to our clients. I have never chosen a vendor because they are cheapest, but because they offer an excellent service at a fair price.
It is true that economic times are difficult. Many people have been neutralized by the economic chaos they see occurring around them. Some fear plunging into a new business venture until things calm down. Others use the uncertainty as an excuse for not moving ahead at all. Some attempt to leverage the pullback to negotiate reductions in fees, costs and development work provided by skilled professionals that may have suffered a loss of work over the past three years.
Here is a caution. It is very unwise to compete for project work by selling service at discounted prices or fees. There are still plenty of qualified clients seeking the best possible outcomes for their projects. They understand that it is silly to try to cut corners on quality and creativity to save a bit of money when they really want the best possible product to sell to consumers. If you discount your fees, and the perceived value of your service, you will only diminish your reputation for top quality work now, and when the economy rebounds.
We review hundreds of products and projects each year. This has been consistent during the recession, as it was before. We have never had to discount a fee to secure a client project. Once we describe our work template, experience and the unique concierge one-stop Product Development service we provide it is unnecessary to barter away a fair remuneration for the valuable work product we produce and our clients ultimately enjoy.
Several months ago we were approached by a pediatric nurse with an interesting Wellness Product. She had discovered an opportunity niche in her work with small children. The Juvenile Product she had conceived possessed all of the elements necessary to achieve commercial success. We walked the nurse though each step necessary to convert her concept to a market ready Consumer Product.
As we discussed Gantt Chart work items and the timeline involved we quoted fee ranges for each component. As the meeting concluded, the nurse asked if we would defer fees. We advised why we could not. Our suggestion was that she interview at least three other firms, listen to their ideas for the project and negotiate fees with them. If she wanted to go with another firm we would wish her good luck. If not, we would love to work with her to make the product real.
This week she called and asked if we had space available for her project. She advised that she had spent a good bit of time interviewing other firms and always came back to the fact that we offered the best combination of experience, convenience, creativity and value. The nurse was also impressed that we did not press or hard-sell her, and actually suggested that she speak with competitors. We have a new client. She has a good deal. A good deal is one where both parties receive benefits.
Whether you are an independent contractor, a real estate agent, engineer, designer, an artisan or any of hundreds of other occupations where you sell your service we encourage you to ask a fair compensation for your professional experience. If you are good at what you do you should be properly remunerated.
Discounting payment of fees is an indicator of weakness. As John Ruskin said, “The person who buys on price alone is the “seller’s lawful prey”. Sell quality work and be paid accordingly. Your work is worth it.
Posted in Business Ethics, Entrepreneurialism, Launching new products, Licensing Products, Marketing Consulting, Marketing New Products or Ideas, Product Development
Friday, October 7th, 2011
Duquesa Marketing, Inc.
www.duquesamarketing.com
Press Release
For Immediate Release
October 7, 2011
Contact: Geoff Ficke
859-567-1609
gficke@msn.com
Duquesa Marketing Unveils New, More Inter-Active Web-site at www.DuquesaMarketing.com
Fresh Design Includes Free Consultation Feature and Free New Consumer Product Readiness Test for Inventors and Entrepreneurs
Florence, KY Nancy Ficke, General Manager of international award winning Consumer Product Development and Branding Consulting firm Duquesa Marketing announced that her firm has unveiled its newly designed and enhanced web-site at www.DuquesaMarketing.com on October 6, 2011.
“We made the decision to add significant guidance and tutorial features to the site so that small businesses, inventors and entrepreneurs can more easily access tools that will be of importance to their project success”, said Mrs. Ficke. “The case studies, blog articles and the massive content archive are derived from projects that we have managed over the last 40 years”.
“The new site highlights the opportunity for visitors to receive a FREE, no obligation consultation in order to evaluate the various options and strategies available when launching new Consumer Products or re-marketing an old brands”, said Alexis Bruning, V.P. of New Product Development for Duquesa Marketing. “There is also a FREE 20 Question test that is very valuable in evaluating a proposed projects readiness for Product Development”.
Duquesa Marketing is unique in that it offers a one-stop, turnkey Branding, Marketing Consulting, Sales and Consumer Product Development concierge service. The Company has over 40 years experience and has worked as Managing Consultants for clients large and small, in the United States and internationally.
Posted in Entrepreneurialism, Launching new products, Licensing Products, Marketing, Marketing Consulting, Marketing New Products or Ideas, Press Releases
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