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The path to successful commercialization of an idea is generally either product- or process-oriented. The fact that a new product or process may be novel, engaging and excellent in many ways is often necessary, but rarely sufficient for commercial success. Many good ideas are not viable commercially because they cannot be manufactured cheaply enough to sell to the public. Other good ideas may be niche products that are too specialized for the broad market appeal necessary for commercial success. In other cases, the product lifecycle may be too short or the distribution and transportation costs too high.
Pagoda has a proprietary Product Risk Reward Assessment Matrix that we apply to all new product evaluations. This, combined with our broad operating experience in management, marketing and sales, enables us to help you assess your invention or product idea. When Pagoda takes on a new product, we become committed to its success and will invest our resources in every stage to bring it to market. Depending on anticipated margins based on costs of development, which may require patenting and trademarks, Pagoda finds that a 10-20% royalty is appropriate for most products. Because we are relationship-oriented and view our suppliers as partners, we are very selective in the products and people with whom we choose to work. |
