Wednesday, December 14, 2011

Buzzwords Inventors Should Stop Using

Inventors, like many others in the IP and product development industries, use buzzwords or clichéd phrases when presenting their product to a company or consumers. As a result of using buzzwords, some have become stale from their overuse or are just used incorrectly. Listed below are five words and phrases that inventors want to avoid using when describing their invention:
Revolutionary – Inventors want to avoid using this word, in any form, at all costs. Few inventions can be considered revolutionary, especially in present time. The cotton gin, printing press, personal computer, assembly line. These inventions were revolutionary, because they transformed the each of their industries conducted their business. It is difficult to say whether a product or invention is truly revolutionary at its current time. It is with time that an invention’s impact can be shown and gain the desired ‘revolutionary’ moniker.
EZ – It is a catchy slogan to simplify ‘easy’ into ‘EZ’. However, when presenting your product to a company for a licensing agreement, it is more beneficial to emphasize the qualities of your product than relying on a catchy slogan.
Million or Billion Dollar Industry – While it may be accurate when inventors say that an industry generates millions or billions of dollars in revenue per year, it is a gross generalization. Inventors should refrain from claiming that an industry produces a specific number of dollars, without citing a market research study. If an inventor just throws out a number to gain interest in his or her invention, it comes off as hyperbole, rather than a sound investment in a growing market.

Everyone will want one – This is a gross overstatement and a palatable generalization that every single consumer in a market will buy a product. There are multiple products in each industry that can accomplish the same solution. The goal of the product developer should be to identify the weaknesses in the current market and create a product that efficiently outperforms its competition. That doesn’t mean that every consumer will buy that single product due to brand loyalty, homemade devices, packaging, name recognition, performance, etc.
Everyone who has seen it, loves it – Sample Size. Sample size. Sample size. When discussing who has used and reviewed a new product, inventors need to be careful on who uses and how many people. The smaller the sample size, the more room for error in the feedback received. One other thing to keep in mind is that if the only feedback an inventor receives is from their family and/or friends, their reviews may not be the best gauge as to the licensability of the product. Those reviews come with a favorable bias.
Inventors and product developers are understandably excited about their product. They often try to sell a product seeker on the invention using phrases and clichéd buzzwords that deter interest from their product, most of the time unknowingly. To receive the best response when showcasing an invention, the product developer needs only to describe the invention and show, specifically, how it is a better product than those on the market. 

About Lambert & Lambert:
Lambert & Lambert is a contingency-fee based invention marketing and patent licensing firm that specializes in consumer products. Based in Minneapolis, Minnesota, Lambert & Lambert provides services to inventors, product developers and small companies throughout the world and currently has products selling in numerous retailers.
Tim Sherman, Director of Customer Service

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