Would there be a market for a cheap, simple, but effective lure/ bait that would be easy to make but has not been produced?

Probably if the lure is a good one and you want to spend a ton of money advertising, sending samples for trapper to test for you, you write some magazine articles and get them puplished, etc to get started and have a few lean years to spare for it to catch on. Good luck! Ace

Even if it don't work you can sell a bunch. Folks are always looking for a magic lure and tend to blaim themselves when they don't work.

Name recognition is EVERYTHING when it comes to selling lure. You can have the best lure in the world but if the trappers don't recognize the name, they won't buy it.

If it's new and different, you have to get out there and promote it before people will by it. And that costs $$$.

To add to what Asa said - doing demos at conventions is another great way to promote your lure.