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Turn a Product Development Disaster into a Success

Turn a Product Development Disaster into a Success

Gilstrap International, LLC’s goal was to contract with Innovative Consulting Group, Inc. (ICG) to commercialize its new product. Gilstrap brought a finished prototype, engineering drawings and an issued patent to its first meeting with ICG. The company had $70,000 invested in the product development prior to approaching ICG.

Through research and its knowledge of the sporting goods industry, ICG knew that the product, as then developed, could not be marketed successfully. Though the product concept was a good one, redesign, with emphasis on marketability was needed.

Gilstrap
  • Approach

    ICG recommended a complete product redesign, re-patenting and a revised professional approach to the market launch. It was critical that management, engineering, patent counsel and marketing work as a team to create a successful product which would meet a recognized industry and consumer need.

    ICG sourced a bicycle industry designer and worked with patent counsel and Gilstrap management to create three variations for viable products. ICG created and implemented a comprehensive marketing plan for the successful launch of the product line both nationally and internationally.

  • Result

    Today, the products are being distributed through thousands of independent bike dealers (J&B Importers) in the U.S. and contracted distributors in Australia. ICG, on behalf of the client, is in negotiation with an International manufacturer of bicycle accessories regarding its interest in purchasing the product line, Trademark and four patents.