Get documents about "Product Development Evaluation Matrix
Description
Use this tool to evaluate new products that are currently in development.
Document Sample
Product Development Evaluation Matrix
Instructions
Use this tool to evaluate new products that you currently have in development.
1. In the "Product Development Evaluation" tab, change the weighting for each evaluation criteria to suit your specific needs.
2. For each concept, rank the current potential of each product based on the scale provided for each parameter.
3. View the Totals at the bottom of the matrix to evaluate the overall potential for each product.
4. Evaluate which concept may be the most feasible, competitive, etc. in the current market.
Product Development Evaluation Matrix
Evaluation Criteria Weight Concept A Concept B Concept C Notes
Financial Feasibility - Can we afford the cost of development? What is the likelihood of a positive financial high?
Rate on a scale (1-10) 5% 7 8 10
Strategic Alignment - Does the product align with our strategic objectives? Can we use existing infrastructure to produce the product?
Rate on a scale (1-10) 10% 2 7 7
Competitive Evaluation - Is the product similar to other products on the market? If so, do we know our product's competitive advantage?
Rate on a scale (1-10) 15% 5 8 7
Usability - Is the product user friendly? Can it be widely used?
Rate on a scale (1-10) 10% 10 9 7
Demand - Is there a need for the product on the market? Does it follow market or industry trends?
Rate on a scale (1-10) 15% 2 7 9
Value - Can the product deliver value to the end user? Are customers willing to pay for the product?
Rate on a scale (1-10) 5% 7 5 7
Implications - Will the launchof the new product have any positive implications on existing product lines?
Rate on a scale (1-10) 5% 7 7 5
Innovation - Is the product new to the market? Is there anything else on the market that is similar?
Rate on a scale (1-10) 5% 7 8 7
Launch - Will the product be easy to launch? Are the financial resources in place to allow for a successful product launch?
Rate on a scale (1-10) 20% 7 9 7
Market Growth - Is there growth in the market? Is there room in the market for this product?
Rate on a scale (1-10) 5% 7 7 7
Barriers to Entry - Have barriers been considered (legal or otherwise)?
Rate on a scale (1-10) 5% 1 9 7
Weighted Totals 100% 5.5 7.9 7.4
riers to Entry - Have barriers been considered (legal or otherwise)?
Rate between 1 - 10 5% 10 10 10
Totals 100% 7.5 8.25 8.4
