To determine a good budget for product design and development, consider a few key factors, including the scope of the project, complexity of the product, market research, prototyping, and production costs. Typically, a starting budget could range from $20,000 to $100,000 for small to medium-sized projects. However, if the product is more complex or aims for a larger market, budgets can exceed this range significantly.
It’s important to allocate funds for each phase of development: concept validation, design