New-product ideas that survive the initial screening process move to the business analysis stage. List five of the many questions that are commonly asked during this stage.
What will be an ideal response?
| · | What is the likely demand for the product? |
| · | What impact would the new product probably have on total sales, profits, market share, and return on investment? |
| · | How would the introduction of this product affect existing products? Would it cannibalize existing products? |
| · | Would current customers benefit from the product? |
| · | Would the product enhance the image of our overall product mix? |
| · | Would the product affect current employees in any way? Would it lead to hiring more people or reducing the size of the workforce? |
| · | What new facilities, if any, would be needed? |
| · | How might competitors respond? |
| · | What is the risk of failure? Is the company willing to take the risk? |
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