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Ne Ws Of America Essay

1750 words - 7 pages


Week 8:
The Evaluation
of Commercial Ideas



Why Evaluate Ideas?
Introduction of Win2 system to evaluate ideas.
Pugh method to evaluate ideas.
How to recognize good opportunities?
Competitive advantages.
What is needed to be successful?


Why evaluate ideas?
• Picking winners
– Which one of our possible innovation opportunities or ideas
has the best likelihood of success

• Avoiding losers
• Risk management
– Clearly any new business needs to be able to assess the
level of risk involve with undertaking the opportunity or
developing innovation

• Innovation assessment
– On ongoing basis
...view middle of the document...

Demand Analysis Criteria
• Potential Market
– How big is the potential market?

• Potential Sales
– Can we sell it into that market?

• Trend of Demand
– Will demand fluid throughout the whole cycle?

• Stability of Demand
• Product Life Cycle
• Product Line Potential
– Can we develop other products on the back of the original product?


4. Market Acceptance Criteria
• Compatibility with Prevailing Attitudes
– How compatible is our product/service with prevailing

• Learning Requirements for Use
– Are we asking our customer to train themselves to use our
product/service. Limitation.

• Needs Met and Utility Provided
– Opportunity recognition!

• Dependence on Other Products



Market Acceptance Criteria (2)
• Visibility and Clarity to Customers
• Promotion Costs
– Will promotion costs generate values for the

• Distribution Costs
• Service Costs


5. Competitive Criteria

Appearance Relative to Competition
Functionality Relative to Competition
Durability Relative to Competition
Price Relative to Competition


Competitive Criteria (2)
• Existing Competition Levels
– Who is out there in our industry?

• Potential Competition
• Protection / Patents / Copyright


6. Experience Factors

Marketing Experience Required
Technical Experience Required
Financial Experience Required
Management Experience Required
Production Experience Required


7. Product Marketing Factors

Technology Transfer Potential
New Venture Potential
Initial Distribution Strategy
Overall Barriers to Market Entry
Overall Market Attractiveness


If you had money to spare,
would you invest in this venture?


New Product Innovation

World First Pen-shaped Mobile


Pen-Shaped Mobile Phone
• Transfer written texts to
computer files
• WEB enabled (read email)
• Bluetooth ready
• Wireless headset
• Optional eyepiece
• Voice activated dialling
• Handy digital camera


• With the person next to you
• Use the Pugh method as an evaluation
technique to evaluate this product
• Is it a potential winner?
• Or is it a likely loser?

Pugh Method
Pen Shaped
Mobile Phone

Transfer Written Text
to Computer files

Web Enabled


Bluetooth Ready


Wireless Headset


Optional eyepiece


Voice activated dialling


Digital Camera




Good Opportunity –
Compelling Need

What is the compelling need?
What problem are you solving?
Does the customer care?
Does the customer understand that there is a problem?
Is there dissatisfaction with current products/services
e.g. performance, poor quality or service?


Good Opportunity –

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