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Step 1 - New Product Proposal

Brief description of new product:_____________________________________________
________________________________________________________________________
(Attach additional documentation, if necessary)
Proposed by:_______________________________
Telephone:_______________________

Date:__________________

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?_______________________________________

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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?__________________________________________

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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

0-4

RED (danger, possible

incompatibility, high risk)

5-8

YELLOW (caution, moderate

risk)
GREEN (attractive, favorable fit,
synergies)

9-14

Approvals needed to proceed to

Detailed Market Analysis
CEO
V.P. of Innovation
Director of Sales
V.P. of Innovation
Director of Sales
Director of Sales

Approvals
________________________
Approved by

________________________
Title

____________
Date

________________________
Approved by

________________________
Title

____________
Date

________________________
Approved by

________________________
Title

____________
Date

New product #______________

New product sponsor:_______________________________________