Is it possible to copy an existing product and sell it for more? Well…yes & no (like all answers, right?). It’s not always as simple as taking something that someone else is selling and just putting a different name on it. In fact, some of the biggest names in retail pay other companies to find new products for them! The point is, this works, but like everything else, you’ve gotta do it right.
Copying is not illegal and it’s actually encouraged by many companies because it helps them determine what customers want and need before they even know it themselves.
It’s also important to note that copying other people’s ideas is not illegal unless they were protected under copyright law or patent law – things like trademarks and trade secrets could be protected by trademark infringement laws if someone else uses your brand name without permission or copies your product idea without giving you credit for it, but copyright law only protects creative works like books and music (not ideas).
Do your homework
This sounds obvious but it’s important! You need to know what keywords people are using when they search for your chosen product and where they are located geographically so that you can target them with advertisements on Facebook or other platforms . You should also find out if there are any similar products already available on the market. If so, what is it about your idea that makes it different? What does your target audience want from this product?
Make it different
If you’re starting a new business, or launching a product in an already crowded market, it’s important to make sure your product stands out and is different from the others.
Here are some tips to help you get started:
Make it better
If you’re introducing a new product into a market with similar offerings, make sure yours is better than the rest. If there’s something similar on the market that people like, find out why they like it and do more of those things. If there are flaws with the existing products, fix them.
Make it cheaper
The best way to make your product stand out is to offer something that other companies don’t offer at all — or at least not for less than what they’re charging for theirs. Make sure your price point is very low compared to other products on the market that are similar in nature (and of course make sure it’s high enough so you can still make a profit!). This may be hard if your product requires significant research and development costs, but if you can come up with some ways to reduce costs without sacrificing quality too much then go for it!
Copy just one thing
If you want to create a better version of an existing product, there’s no need to reinvent the wheel. The only thing you need to do is to copy one key feature and improve on it. This way, you’ll be able to provide an innovative solution without having to invest time and money in developing your own idea from scratch.
The key is to find out what makes the original product so great, and focus on improving that one aspect.
You can’t copy everything, so pick one thing that you think is the most important. It should be something that’s easy to do and easy to measure. And it should be something other people aren’t already doing.
For example, if you’re selling a book, you could copy the cover design of a bestseller and see if it works for your own book (which is what I did with my own book). If there are lots of products in your category that are using this strategy and they’re all selling well, you know it’s a good idea to copy them.
Copy just one thing, but do it really well. If you want to take this further, you can try adding another element or two from the same product and see if they work as well as the original element did (we’ll talk about this in detail later).
Tweak until you love it
Your first product won’t be perfect, but it doesn’t matter. It’s your first step to building a business.
Don’t get caught up in all the details of your product or service. Focus on what matters most: getting it out there so you can start learning from customers.
The best way to learn is by shipping and iterating quickly. That means shipping something imperfect and then improving it over time as you get feedback from real customers.
Tweaking your product means listening to feedback from your customers, testing new features or designs, and making changes based on their responses. You don’t have to wait until your version 2 is perfect; just make sure you’re constantly iterating toward something better than what came before it .
You don’t have to be 100% sure that your product is right for customers. In fact, you shouldn’t be. That’s why it’s so important to get feedback from real customers as soon as possible—so you can start learning what they want and how well your idea is working.
Use customer insights
Think about your audience. What products do they already buy? What problems or desires do they have? How can you improve on them? You can use these insights to come up with ideas for similar products that you could sell for less money. If you’re unsure about what type of product would be best for your audience, ask them! Surveys are free and easy to set up on Survey Monkey and Google Forms so there’s no excuse not to get started right away.
Make sure your product is unique enough
You don’t want to copy someone else’s idea too closely because then people won’t see any difference between yours and theirs. If someone buys from one company and likes their product, they probably won’t want to buy from another company who has a similar product because they think they’ll get the same thing just cheaper or better. If you’re going to create a product that’s similar to someone else’s, make sure it’s different enough that people will want to buy yours instead!
Ask the right questions
There are several ways to find existing products that are selling well:
1) Use Google AdWords Keyword Planner to find profitable keywords for your niche. Then search for those keywords in Google and see what comes up. Check out Amazon’s best sellers list for ideas too.
2) Check out eBay auctions that are ending soon (eBay Pulse), completed auctions (eBay History) and completed listings (eBay Stats). Look for items with a high “winning bid” amount and low “sold price” amount (or vice versa). These are good candidates for copying because they have little profit margin left after shipping fees have been paid by the seller.
3) Search YouTube for videos about your niche topic or similar ones (e.g., if your niche is weight loss supplements then search “weight loss” or “protein powders” on YouTube). Then check out the most popular videos and see if you can make a product based on the information in them.
4) Ask your friends what products they want to see on the market. If they don’t know of any, then ask them what problems are stopping them from buying a product (e.g., “I’m looking for a weight loss supplement that increases energy levels while also helping me lose fat”).
Focus on the problem not the solution
This is a common mistake people make when they’re starting their store. They think about the solution, not the problem.
Instead of thinking about how to solve a problem for your customers, try to think about what problem you’re solving for them.
For example, if you’re selling hair color and want to improve your sales, it’s tempting to just add more products to your store. But that’s not going to work.
You need to ask yourself: What is the problem my customers are trying to solve by buying hair color? Is it that they want their hair colored in an unnatural way? Or is it that they want their natural color restored?
Once you understand what problem you’re solving for your customers — whether it’s unnatural vs natural — then you can focus on creating content that addresses that particular need and help them solve it better than anyone else can.
Keep the end goal in mind
The key to successful copywriting is to keep the end goal in mind.
If you’re writing the copy for an ecommerce product page, then your goal is to sell something. If you’re writing copy for a website, then your goal is to get people to click on an ad or sign up for a newsletter.
Sometimes, though, you want customers to do something other than buy your product. For example, if you run a blog or news site, then you might want people to sign up for your email list or follow you on social media.
In this case, it’s not enough just to have good content; you need great content that attracts people by appealing directly to their needs.
This means that once you have your general idea for what kind of content will work best for your end goal — whether that’s selling products or getting subscribers — it’s time to make some changes so that those ideas become reality!
Takeaway
There is a big difference between copying existing products and improving upon them. Successful companies from Apple to Zara figured out how to make products on their own, not just copies of something that existed before.
The same is true for product designers. If you want people to appreciate your design skills and be willing to pay for your excellent designs, you don’t need to start with copying existing products—instead, think about what real needs there are for your niche audience, and come up with a solution that will set you apart.