Idea Screening

Once the firm has collected a number of new product ideas, the next step is to screen out the weaker ideas, because product-development costs rise substantially with each successive development stage. Most companies require new-product ideas to be described on a standard form that can be reviewed by a new-product committee. The

New Product Development Stages Marketing
Figure 3-8 The New-Product-Development Decision Process

description states the product idea, the target market, and the competition, along with a rough estimate of the market size, product price, development time and costs, manufacturing costs, and rate of return. The new-product committee then reviews each idea against criteria such as: Does the product meet a need? Would it offer superior value? Will the new product deliver the expected sales volume, sales growth, and profit? The ideas that survive this screening move on to the concept development stage.

Network Marketing Structure Part 2

Network Marketing Structure Part 2

Although this book is the second part of a 2 part series, the content here is designed to be stand-alone and each book is written with lessons applicable for every aspect in network marketing. In this book, we are taking a more in depth look at plan mechanics as well as practical steps to boost your career.

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