1. The first step is to go for market survey. You must know what the demands of your target market are. The best product creation can only be done while considering the requirements of the target market.
2. Your new product should have some value added features in it. Until and unless you are able to design a product which is better than the previously existing ones, you will not be able to get the best results out of your efforts.
3. Create unique product, which has a unique selling point.
4. Test marketing and market testing should be carried out before you go for launching the product in the market. The soft launch should always precede the hard launch.
5. Promote your product properly. The promotion and advertising support you will give to your product will decide its future.