Take the guesswork out of product development and sales with these tips from folks who are doing it.

By Susie Boghosian and Jinny Fleischman

New-product development. The last merchandise category is product development, which results in a product that’s available only from your organization. These custom products provide the greatest control over the cost of goods sold, but they also involve the greatest investment. It’s one thing to put your own cover on an existing book, but quite another to publish a new title. Nonetheless, it can be a smart move for a mature merchandising program; it’s not a starting point unless you have a very talented outside consultant.