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Have you re-checked your great works?
Here's thought: It doesn't say _anywhere_ the proper way these things are supposed to be done, but could it be that the Create New Product projuct MUST be done in a city with a Stock Exchange ONLY? (In which case all of those projects I completed were entirely wasted effort.) [It ALSO means that to make a new Product _absolutely_ requires that it be done in a city that built a Commercial Hub, with a Market, and a Bank, and a Stock Exchange. That was something else that was never mentioned anywhere.]
2: Have a third and build a corporation on one with a Great Merchant.
3: In the city with the corporation, there is a project to create a Product.
What the other two posters have said has been my experience too. Have 2 copies lets you use a builder charge to make an Industry. Have 3 copies or more and you can use a Great Merchant to turn it into a Corporation. Then use a city project to build a new product which can be stored in a stock exchange or seaport (or I think any building with a "wildcard" great work slot, but I'm not sure on that). When the city project is complete it should get slotted in immediately. You'll want to move the products because they don't stack bonuses in the city where they were produced, or in cities where the same luxury product is already.
https://i.imgur.com/Crfl1c8.png
But how do you use a Great Merchant to turn it into a Product? And that seems really odd, requiring a GM for EACH new Product. If you have built three Stock Exchanges, you have nine Product slots in Great Works. To fill those requires NINE Great Merchants? That seems terribly excessive.
Furthermore, if a city is limited to ONE Industry, how can you get THREE Products developed to put in the Stock Market Great Works slots?
You don't need a great merchant to make the product, just to make the Corporation. Any Great Merchant works, so I usually start saving the bad ones early on. Once you have 3 improved copies of a luxury, and one of them has an Industry, and you've researched Economics, then you can move the Great Merchant onto the Industry and get an ability that upgrades it into a Corporation (and doubles the yields/bonus).
Then any city with a Corporation built should be able to do projects to create products as many times as you want so you can slot them into other cities.
So if Washington has Coffee as a Corporation, you can create coffee products and slot them into Boston, Chicago, New York, etc. And every city with that product will also get the +20% culture bonus that Coffee gives. Keeping a coffee product in Washington won't do anything (since it already has the coffee bonus from the Industry/Corporation, and I don't think you can put 2 coffee products in Boston to get +40%. But you could put mutliple different products, yes. So Washington can get Marble, Mercury, and Cocoa. Boston can have Coffee, Cocoa, and Marble. Chicago can have Coffee, Cocoa, Mercury. And so on.
1. Commerce must have been researched.
2. An Industry must be completed.
3. Economics must be researched.
4. A Stock Market must be built.
5. A Create New Product project must be completed. [Question: MUST the project be conducted in the city that has the Industry? Or can any city conduct the project?]
6. A Great Merchant must be acquired.
7. A third improved resource (which is same as the Industry) must be created.
THEN the Great Merchant can establish a Corporation on the tile with the Industry (which consumes the GM).
Is ^that all correct?
Not quite. Step 5 goes at the end. You build an Industry, then upgrade it to a Corporation, then the Create Product is available as a city project. Then those products can be moved to any city with a Stock Market or Seaport. Additionally, step 4 isn't required before making a Corporation. It's only necessary so you have a place to put a completed Product.
so 1-2-3-6-7-4-5
Okay, suppose, as you say, an existing Stock Market does NOT need be there upon completing a Create New Product project. Where does that New Product go? Where can you find it in your Inventory of assets? And once you DO complete a Stock Market, where do you look to grab the New Product was made earlier?
From the way the New Products and Stock Markets are described, it sounds more like the Stock Markets are being made into Department Stores.
That isn't what I said. I said a Stock Market isn't required before you expend a Great Merchant to make a Corporation. You still need a Stock Market or Seaport before you can complete a Create Product project.
Your department store analogy isn't quite correct. The Create Product isn't making a single item that's then sold, it's more like designing a product and setting up a distribution stream so it's then produced and sold in the millions. While the building is named Stock Market, it would be more accurate to think of it as a Commodities Exchange in this case.
The create product project should only ever appear in a city with a corporation, because those products are specific to a certain luxury type, so they should always have a different item logo and description.
I _think_ I understand the part about using a GM to create a Corporation BEFORE Creating A New Product now. Thank you for that.
This does not seem to be correct - and might be due to a mod or something. You only see 'Create a X product' projects inside the city with the corporation, once the project is available.