New Product Proposal Outline
J. Scott Armstrong, Nov. 22, 2004
Recommendations
- Recommended strategy
- Alternative strategies
- Benefits for investor (NPV, risk)
- What you need from the investor and when
- How will the funds be used?
Objectives
- Who benefits from the project and how (stakeholder analysis)
Product
- Design (concept/drawing/scale model/prototype)
- Features of the product
- Core benefit proposition (what it provides vs. alternative products)
- Name of the product
Marketing plan (examine alternatives)
Support for the Proposal
- Target market research
- Product testing
- Marketing mix
Threats (liability/ competition/ opposition from special int. groups)
Implementation
- Timeline (whatâs been done and what remains; deliverables)
- Contingency plan
- Your capabilities to do the job
Gaining agreement
- Benefits for investor (ROI, risk, other). Phased introduction?
- What you now need from the investor?
- [In oral version, summarize questions and ask for action]
