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"...This is an excellent program. I'm so glad that I stumbled on to this when researching for task management programs. Very low learning curv, quite flexible, and the price is right. Tried at least 20 other programs, either too complicated, too expensive, or poor documentation..."
Chad Lindsey -
Honolulu, HI

Product Screening Checklist

 

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Product Screening Checklist  This Product Screening Checklist will be helpful to everyone who needs to conduct a procedure of idea screening (it can be also called product screening). The purpose of product (idea) screening effort is to withdraw all unsound concepts before allocating business resources to them.


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Product Screening Checklist:

  • Identify how the customers in the target market will benefit from the product:
    • Review selection criteria and drivers of your target audience;
    • Know what automatically falls into area of obvious discard due to culture, religion, etc;
    • Envisage how your product idea suits their buying patterns and what will make them to buy;
  • Define who are the major potential competitors opposing the product idea:
    • Is the product idea completely new to the target market?
    • Estimate expected competitive pressure your product may face;
    • How the product is different from everything already placed on the market?
    • Pinpoint potential risks and threats which can endanger your product;
    • Figure out some alternative ways to position your product to reduce risks (to attack a niche where competition is not so tough yet);
  • Estimate the size and growth forecasts for the market you are planning to approach:
    • What industry and market trends your product idea is based upon?
    • Estimate how these tendencies are supposed to impact your sales or customer interest;
    • Does the forecasted capacity of the market satisfy your company’s current strategy;
    • Are there any specific factors that will make the demand for your product grow?
  • Substantiate technical and financial feasibility of the product development and production:
    • Whether your company possesses all necessary resources and technologies?
    • Whether it is possible to contract externally resources which are missing at the moment?
    • Whether production is commercially justified (is it possible to fit the target price)?
    • Whether the product can stay profitable when manufactured and delivered to the customer?
  • Justify why your product is supposed to be better than what already exists:
    • Can you realize your new ideas with a unique design to them?
    • Is it possible to deliver a superior quality (comparing to other competitive offerings)?
    • Will it address a unique segment of customers (never successfully addressed before)?
    • Consider what can make your product delivered and distributed faster (to have a better sales-to-stock ratio than the competition);
    • Can you maintain the price range suitable to financial capabilities of the target audience?
  • Estimate potential horizon and course of development for the product:
    • Is the idea able to offer enough of new features to stay afloat in a long-term prospect?
    • How deep you assume the product idea’s potential can be explored further?
    • Learn how the features (major and secondary) of the product can be configured to reach a variability of sales offerings (to impress different categories of target clients);
    • Estimate longevity of your product idea on the market;
  • Consider how the product is compliant with your company’s strategies and existing base:
    • Is the product a consistent part of an established category/line of products or is it a new fad?
    • Can the product be qualified as an immediate response to ...


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