Idea Generation : The Development Of A Product Will Start With The Concept

930 Words Aug 5th, 2015 4 Pages
Idea Generation: The development of a product will start with the concept. It is necessary to employ strong analyses to identify current market trends and available solutions, understand customer behavior and needs, and identify areas of opportunity. This information will help keep ideas focused and relevant. Some tools that can help this analysis include a basis internal and external SWOT analysis, study of market and customer trends, competitor analysis, focus groups, sales staff and other employees, and information from trade shows. It is also helpful for the team to keep important aspects of the future product in mind such as how lean it is, how scalable it is and how much return can it generate. There may be many ideas at this point, which will be analyzed in detail in the next stage. During the new product development (NPD) process, keep the system nimble and use flexible discretion over which activities are executed. You may want to develop multiple versions of your road map scaled to suit different types and risk levels of projects.

Idea Screening: This step is crucial to ensure that unsuitable ideas, for whatever reason, are rejected as soon as possible. Ideas need to be considered objectively, ideally by a group or committee. Specific screening criteria need to be set for this stage, looking at ROI, techinical sense, benefits to target audience, affordability and market potential. These questions need to be considered carefully, to avoid product failure after…

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