If its been done, how do I go about doing it better?

I see a real market niche for a certain type of product. This product
has been built and sold on the market in very small numbers. The
demand for this product is driving the price out of the roof and
making it very hard for folks like myself to buy, but nevertheless, we
buy because we need.

I am interested in building a product to compete because I believe I
can "build it better, faster, stronger" and CHEAPER!!

I'm a software programmer, not an engineer, or a production manager,
or a marketing specialist.

Where do I begin?

tia,

Reed