Developing a New Product: Flashcards
Key Questions and Points to Consider extended
- Think about the product: a
What’s special or proprietary about it?
- Think about the product: b
Is the product patented? For how long?
- Think about the product: c
Are there similar products out there? Are there substitutions?
- Think about the product: d
What are the advantages and disadvantages of this new product?
- Think about the product: e
How does this product fit with the rest of our product line?
- Think about the product: f
Can our sales force sell it?
- Think about Market Strategy: a
How does this strategy affect our existing product line?
- Think about Market Strategy: b
Are we cannibalizing our own sales from an existing product?
- Think about Market Strategy: c
Are we replacing an existing product?
- Think about Market Strategy: d
How will this strategy expand our customer base and increase our sales?
- Think about Market Strategy: e
What will the competitive response be?
- Think about Market Strategy: f
If we are entering a new market, what are the barriers to entry?
- Think about Market Strategy: g
Who are the major players & what are the barriers to entry?
- Think about Customers: a
Who are our customers and what is important to them?
- Think about Customers: b
How are they segmented?
- Think about Customers: c
How can we best reach them?
- Think about Customers: d
How can we endure we retain them?
- Funding: a
How is the product being funded? Does our co have the cash or are they taking on debt? And can we support the debt under various economic conditions?
- Funding: b
What is the best allocation of funds?
