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Ne Ws Of America Essay

1750 words - 7 pages

1

Week 8:
The Evaluation
of Commercial Ideas

2

Agenda
•
•
•
•
•
•
•

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

3

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?

10

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

• 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

11

12

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

• Distribution Costs
• Service Costs

13

5. Competitive Criteria
•
•
•
•

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

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

• Potential Competition
• Protection / Patents / Copyright

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6. Experience Factors
•
•
•
•
•

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

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7. Product Marketing Factors
•
•
•
•
•

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

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

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New Product Innovation

World First Pen-shaped Mobile
Phone

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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

20

Exercise
• 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?

21
Pugh Method
Pen Shaped
Mobile Phone

CRITERIA
Transfer Written Text
to Computer files

Web Enabled

D

Bluetooth Ready

A

Wireless Headset

T

Optional eyepiece

U

Voice activated dialling

M

Digital Camera
Etc…
Etc…
Etc…

CONCEPT 2

CONCEPT 3

CONCEPT 4

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?

22

Good Opportunity –
...

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