Below is 26 questions we use to assist our clients before investing time and money into a new product idea. Feel free to contact us to discuss any of these.

No: Question
1 Is the product new or an extension of an existing product line?
2 What markets are to be served?
3 How are the markets currently being served?
4 Is the market attractive?
5 Future markets?
6 What is the necessary market share to make this product a success?
7 Why will this product be successful?
8 What is the need being met by this product?
9 Does the product have technological challenges?
10 What formal certifications are needed?
11 What formal qualifications are needed?
12 Is the product related to political trends
13 Is this product in line with current economic trends
14 What are the barriers for this product success?
15 Any environmental issues?
16 What is the development cost?
17 What is the development time?
18 What is the start-up cost of production?
19 How will the product be commercialized?
20 Projected 5-year sales forecast?
21 What is the minimum acceptable profit / royalties / fees?
22 What is the estimated return on invested capital?
23 How long before desired returns are to be achieved?
24 What is the estimated period of profitability
25 Will this product be licensed, kept internal, or a spin-off?
26 Who is responsible for the success of this product?

Additionally, you can download the list below:

Download 26 Questions for a New Product