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Evaluating new products
By steve | April 3, 2008
IDEAS
The world is full of new ideas. Ideas make the world what it is BUT:
Very few ideas are ever turned into a profit.
What should we do when faced with new ideas or a new product to sell?
This is my take on it:
- Define clearly what the idea is
- What does it do?
- What is the solution it solves?
- What is the cost?
- Does it make a difference for a customer?
- Why should a customer buy this from me?
- What is the competition for this product?
- What does the alternative cost?
- How will our competitors react?
- Will it do the job it is intended to do?
- Is it at least ten per cent better than any existing alternative?
- Is it a significant improvement?
- Is it compatible with human nature?
- Would you recommend it to family and friends?
- Would you buy it yourself?
- Are there any reviews anywhere on this product?
- Is it too soon or too late for this product?
- Is it worth the cost?
- Can it be easily understood?
- Can it be summarised in one minute?
Topics: News |