- Published on
AOT-07-02-Business-Developing a new product
- Authors
- Name
- Valentin P
- @ValentinP43
1. The Product
1.1 Product Description
- What is the product?
- What are its key features and benefits?
- What are its unique selling points (USPs)?
- How does it compare to similar products on the market?
- What are the product's technical specifications?
1.2 Intellectual Property
- Is the product patented or protected by any other forms of intellectual property?
- If so, what is the status of the patent or other intellectual property protection?
- If not, is the product eligible for patent protection?
- Are there any potential issues with infringing on the intellectual property of others?
1.3 Market Analysis
- Who is the target market for the product?
- Is there a need for the product in the market?
- What is the size of the market and its growth potential?
- Who are the main competitors and how do they compare to the product?
- What is the product's potential market share?
1.4 Product Development
- Who is responsible for developing the product?
- What is the development timeline?
- What are the key milestones and deliverables?
- What are the potential challenges and risks in developing the product?
- What are the resources (financial, human, and material) needed for development?
2. Market Strategy
2.1 Market Segmentation
- Who are the target customers for the product?
- What are their demographics, behaviors, and needs?
- How is the product positioned in the market compared to competitors?
- What are the key value propositions for the target customers?
2.2 Marketing Mix
- How will the product be priced?
- How will the product be distributed?
- What marketing channels will be used to reach the target customers?
- What promotions and advertising will be used to generate demand for the product?
2.3 Sales Strategy
- Who will be responsible for selling the product?
- How will the sales team be structured and trained?
- What is the sales plan and forecast for the product?
- What are the key performance indicators (KPIs) for the sales of the product?
2.4 Competitive Analysis
- Who are the main competitors for the product?
- What are their strengths and weaknesses?
- How does the product compare to the competition?
- What are the competitive threats and opportunities for the product?
- What is the plan to respond to competitive actions and take advantage of opportunities?
3. Customers
3.1 Customer Analysis
- Who are the target customers for the product?
- What are their demographics, behaviors, and needs?
- What are the key value propositions for the target customers?
- How do the customers currently solve the problem or meet the need addressed by the product?
3.2 Customer Acquisition
- What is the plan to acquire new customers for the product?
- What marketing and sales channels will be used to reach and engage the target customers?
- What are the key metrics for customer acquisition, such as cost per acquisition (CPA) and conversion rate?
- What are the potential challenges and risks in acquiring customers for the product?
3.3 Customer Retention
- What is the plan to retain existing customers for the product?
- What strategies and tactics will be used to keep customers satisfied and loyal?
- What are the key metrics for customer retention, such as churn rate and lifetime value (LTV)?
- What are the potential challenges and risks in retaining customers for the product?
3.4 Customer Feedback and Support
- How will the customers provide feedback on the product?
- How will the feedback be collected, analyzed, and acted upon?
- What is the plan for providing customer support, such as through phone, email, or online chat?
- What are the key metrics for customer satisfaction and support, such as response time and resolution rate?
- What are the potential challenges and risks in managing customer feedback and support?
4. Financing
4.1 Funding Sources
- What is the plan for financing the product development and launch?
- What are the potential sources of funding, such as equity, debt, grants, or partnerships?
- What are the terms and conditions of the funding, such as the amount, interest rate, and repayment schedule?
- What are the potential risks and benefits of the funding sources?
4.2 Financial Projections
- What are the financial projections for the product, including revenue, expenses, and profit?
- What are the assumptions and drivers behind the financial projections?
- What are the key metrics for financial performance, such as return on investment (ROI) and payback period?
- What are the potential challenges and risks in achieving the financial projections?
4.3 Financial Control and Reporting
- Who is responsible for managing the finances of the product?
- What are the financial policies and procedures for the product?
- How will the financial performance of the product be monitored and reported?
- What are the potential challenges and risks in controlling and reporting the financial performance of the product?
5. Operations
5.1 Production
- What are the key steps and processes involved in producing the product?
- What are the resources (financial, human, and material) needed for production?
- What are the potential challenges and risks in producing the product, such as quality, yield, and scalability?
5.2 Distribution
- What are the channels and logistics for distributing the product to the customers?
- What are the resources (financial, human, and material) needed for distribution?
- What are the potential challenges and risks in distributing the product, such as lead time, availability, and security?
5.3 Service
- What are the plans for servicing the product, such as installation, training, maintenance, and repair?
- What are the resources (financial, human, and material) needed for service?
- What are the potential challenges and risks in servicing the product, such as warranty, customer satisfaction, and technical support?
5.4 Capacity and Capacity Planning
- What is the current and future capacity for producing, distributing, and servicing the product?
- What are the plans for expanding or reducing the capacity as needed?
- What are the potential challenges and risks in managing the capacity and capacity planning for the product?
6. Quality and Compliance
6.1 Quality Management
- What are the quality standards and requirements for the product?
- What are the plans for ensuring that the product meets the quality standards and requirements?
- What are the key metrics for quality, such as defects per unit and customer satisfaction?
- What are the potential challenges and risks in achieving and maintaining quality for the product?
6.2 Compliance Management
- What are the regulatory and legal requirements for the product?
- What are the plans for ensuring that the product complies with the regulatory and legal requirements?
- What are the potential challenges and risks in achieving and maintaining compliance for the product?
6.3 Quality and Compliance Audits
- Who is responsible for conducting quality and compliance audits for the product?
- What is the schedule and scope for the quality and compliance audits?
- What are the potential findings, issues, and recommendations from the quality and compliance audits?
- What are the plans for addressing the findings, issues, and recommendations from the quality and compliance audits?
6.4 Quality and Compliance Training
- Who is responsible for training the employees on quality and compliance for the product?
- What is the content and schedule for the quality and compliance training?
- What are the key metrics for the effectiveness of the quality and compliance training, such as attendance and retention?
- What are the potential challenges and risks in conducting the quality and compliance training?
7. Environmental and Social Impact
7.1 Environmental Impact Assessment
- What are the potential environmental impacts of the product, such as air and water pollution, waste generation, and resource consumption?
- What are the plans for mitigating and managing the environmental impacts of the product?
- What are the key metrics for the environmental performance of the product, such as greenhouse gas emissions and water use?
- What are the potential challenges and risks in addressing the environmental impacts of the product?
7.2 Social Impact Assessment
- What are the potential social impacts of the product, such as employment, health and safety, and community relations?
- What are the plans for mitigating and managing the social impacts of the product?
- What are the key metrics for the social performance of the product, such as worker satisfaction and community engagement?
- What are the potential challenges and risks in addressing the social impacts of the product?
7.3 Environmental and Social Management
- Who is responsible for managing the environmental and social impacts of the product?
- What are the policies, procedures, and systems for environmental and social management?
- How will the environmental and social performance of the product be monitored and reported?
- What are the potential challenges and risks in managing the environmental and social impacts of the product?