1. Idea Insights from GNPS Concept Evaluation in NPD Episode
15-19 www.globalnpsolutions.com/idea-incubator/ 1 2. Idea Insights
from GNPS NPD Structured Process Staged and gated processes guide
new product development Minimizes innovation risk and investment
Stages: 1. Opportunity Identification 2. Concept Generation 3.
Concept Evaluation 4. Technical Development 5. Commercial Launch
www.globalnpsolutions.com/idea-incubator/ 2 3. Idea Insights from
GNPS Concept Statements Concept Statement narrative describing new
product benefit, form, and technology May test emotional linkage
based on market research studies Potential customers have short
exposure to the concept statement Want to eliminate poor concepts
early (less expensive) www.globalnpsolutions.com/idea-incubator/ 3
4. Idea Insights from GNPS Concept Evaluation Stage 3 of the
structured NPD process Combine ideas from Stage 2 into logical
themes Stage 2 = brainstorming, divergent thinking Stage 3 =
convergent thinking Market research refines concept Customer site
visit Focus groups www.globalnpsolutions.com/idea-incubator/ 4
Divergent Thinking Convergent Thinking 5. Idea Insights from GNPS
Economic Evaluation of Concepts Business case includes profit
formula Pricing Scheme impacts the profitability Sales volume and
unit price Too high and customers leave Too low and project is
unattractive Sensitivity Analysis Study variables impact on profit
Consider expected range and base case
www.globalnpsolutions.com/idea-incubator/ 5 6. Idea Insights from
GNPS For More Information See the full post at the Idea Incubator
Blog www.globalnpsolutions.com/idea-incubator/ Free registration
Contact me! 1-281-280-8717 [email protected] 2323 Clear
Lake City Blvd., #180-177 Houston, TX 77062
www.globalnpsolutions.com/idea-incubator/ 6 Click here
