New Product Proposal



Step 1 - New Product Proposal

Brief description of new product:_____________________________________________

________________________________________________________________________

(Attach additional documentation, if necessary)

Proposed by:_______________________________ Date:__________________

Telephone:_______________________ Email:_____________________________

Initial Analysis

1. Does the new product fit in an existing product line? Yes____ No____

If yes, what product line?_____________________________________________

2. Do we possess the production and/or service capability to deliver this new product?

Yes____ No____

If yes, what specific capabilities would be employed?_______________________

__________________________________________________________________

3. Do we possess the technical and/or engineering capabilities to develop this new product? Yes____ No____

If yes, what specific capabilities would be employed?_______________________

__________________________________________________________________

4. Is the new product aimed at an existing customer segment for our organization?

Yes____ No____

If yes, what customer segment?________________________________________

5. Does the new product fit our current strategy? Yes____ No____

If yes, what is the connection to current stratregy?_________________________

__________________________________________________________________

6. Does the new product fill and existing need or desire? Yes____ No____

If yes, what is the need or desire?_______________________________________

7. Would we be the first organization to fill this need or desire in this manner?

Yes____ No____

If no, who already addresses the need or desire in this general way?___________

__________________________________________________________________

8. Do our existing suppliers and subcontractors have the capability for this product?

Yes____ No____

If yes, who will be the key suppliers and subcontractors?___________________

__________________________________________________________________

9. Do our sales partners (dealers, retailers, sales representatives, etc) have the capabilities to handle this product? Yes____ No____

If yes, who will be the key sales partners?________________________________

__________________________________________________________________

10. Will the sales for this new product represent at least $100,000 in the first year?

Yes___ No____

If yes, what evidence indicates this level of sales?__________________________

__________________________________________________________________

11. Will sales of the new product grow by at least 15% in each of the first 3 years of the products life? Yes____ No____

If yes, what evidence indicates this level of sales?__________________________

__________________________________________________________________

12. Will customers for this product reside in geographical areas currently served by our organization? Yes____ No____

If yes, where will the bulk of the customers reside?_________________________

__________________________________________________________________

13. Will this product represent a completely new innovation for the marketplace?

Yes____ No_____

If yes, what makes it unique?__________________________________________

14. Do we have the time and resources to pursue this project effectively, given the existing load of projects and new product development already undertaken?

Yes____ No____

If yes, what projects could possibly impede progress anyway?________________

__________________________________________________________________

15. Additional issues related to this proposal:___________________________________

________________________________________________________________________

(Attach documentation if necessary)

Score and Approval Guidance

Score (Total number of “yeses” from above):______

|Score |Guidance |Approvals needed to proceed to Detailed Market |

| | |Analysis |

|0-4 |RED (danger, possible incompatibility, high risk) |CEO |

| | |V.P. of Innovation |

| | |Director of Sales |

|5-8 |YELLOW (caution, moderate risk) |V.P. of Innovation |

| | |Director of Sales |

|9-14 |GREEN (attractive, favorable fit, synergies) |Director of Sales |

Approvals

________________________ ________________________ ____________

Approved by Title Date

________________________ ________________________ ____________

Approved by Title Date

________________________ ________________________ ____________

Approved by Title Date

New product #______________

New product sponsor:_______________________________________

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