Innovation, Product Development and Commercialization by Rafinejad Dariush

Author:Rafinejad, Dariush
Language: eng
Format: epub
Published: 2014-06-27T00:06:23.897000+00:00

The output of Phase 0 is a formal proposal that is presented to company management for approval and authorization to start the product development process. This is akin to the proposal prepared by a start-up company to venture capital investors for initial funding of the enterprise. The proposal content should include the proposed vision, business opportunity, MRS, product business plan, market segment analysis, and product line concept. In reviewing the proposal, company management must ensure that the proposed product marketing strategy and business plan meet the firm's business, market position, and ROI objectives. If the proposal meets the firm’s strategic and investment criteria (hurdle rate), a product development project is formally established to start the E&F phase. (See Chapter 10 for more detail about the Phase 0 process for assessing a product’s viability.)

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