Developing a new product (2) Think about market strategy (how affects our…
Developing a new product
1) Think about product
what's special about product?
is the product patented?
are the substitutions or similar product out?
advantages and disadvantages of this product
how does new product fit in with the rest of the line
3)Think about customers
Who are they?
how we can reach them? Internet?
how we can retain customers?
2) Think about market strategy
how affects our existing product line?
are we cannibalazing one of the our existing products?
are we replacing an existing product?
how this will expand our customer base and increase sales?
the competitive responce
if new market, barriers to enter?
major players and their market share
4)Think about financing
where found funds
can we support the debt