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Product Development Process

Product Development Process. New Products are THE Key Business Challenge . Number one focus for CEO’s and Wall Street New products account for 50+% of sales and 40+% of revenues. (vs 33%, 22% 10 years ago) Expected rate of new product introduction increase 21% over next 5 years

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Product Development Process

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  1. Product Development Process The U & I Group

  2. New Products are THE Key Business Challenge • Number one focus for CEO’s and Wall Street • New products account for 50+% of sales and 40+% of revenues. (vs 33%, 22% 10 years ago) • Expected rate of new product introduction increase 21% over next 5 years • Innovativeness drives companies investment value • Companies that are doing well today invariable have an enviable stable of new products Companies must be able to consistently create new products year after year The U & I Group

  3. Who is Driving New Products? • Large companies are driving new products even though the industry has been consolidating. • Kraft and General Mills did well. • Tyson did not. Kellogg was basically flat. The U & I Group

  4. Are They Delivering? • 2002 total number of products introduced up 3.2% from 2001 (top 20) • Total number of new food product introductions down 0.5% (all companies) • Top 20 companies • Late 1990s – approx. 12% • 2001 17.4% • 2002 18.1% . • Highest seen since the late 1980s. The U & I Group

  5. What are the Issues? • Over half of all new products fail • Food: IRI Study of 608 introductions • 52% fail • 48% success • All Industries: • New products 46% fail • 54% success Source: IRI New product trends 2000. Robert Cooper 2003 Both major and minor intros launched between 10/96 and 10/98 (looking at 2 years post introduction) in 20 categories. Major: New brand or extension into new segment. Minor: form/ flavor extension (not size change). The U & I Group

  6. General Reasons for New Product Failure % Citing Reasons for Failure • 45% Marketing Analysis • 30% Product Problems or Defects • 25% Marketing Efforts not Enough • 18% Higher Costs than Expected • 17% Competitive Strength or Reaction • 15% Poor Timing of Introduction • 11% Technical or Production Problems • 22% All Other Source: Robert Cooper 2003 The U & I Group

  7. What Drives Success? #1 • Unique and Superior Product • Differentiated Product • Delivers unique Benefits • Delivers Superior value to the Consumer The U & I Group Source: Robert Cooper 2003

  8. What Drives Success? # 2 Strong Market Orientation. Market driven and consumer focused. --- Good Market research The U & I Group Source: Robert Cooper 2003

  9. What Drives Success? # 3 International Orientation Global vs Glocal # 4 Pre Development Homework Source: Robert Cooper 2003 The U & I Group

  10. What Drives Success? # 5 Sharp and Early Product/ Project Definition # 6 Well Conceived Market Launch # 7 The Right Organizational Structure # 8 Top Management Support # 9 Leveraging Core Competencies # 10 Projects Aimed at Attractive Markets Source: Robert Cooper 2003 The U & I Group

  11. Speed to Market is Important • First is Great! • Shelf Space • Retailer wants #1 and often needs #2 (to avoid a monopoly situation)…subsequent entries need to fight for shelf space. • Publicity • When the FDA approved several “acid controller” drugs for OTC sales, Pepcid AC was first to launch, and their brand was mentioned repeatedly in press coverage. • Brand = Category • A new brand name like “Band-Aids” or “Kleenex” can quickly become the generic name for a category, helping that brand stay “top of mind” for consumers for years. • Brand = Pioneer • New Segments are often defined by the Brand Name i.e. “Go Gurt” The U & I Group

  12. The Cost of being Second…Can be High Source: 1995 Marketing Science Volume 14 Number 3 Part 2 of 2 The U & I Group

  13. Why a Product Development Process? • Reduction of Risk • Better Management of Resources • Repeatability of Development • Focus on Decision Making The U & I Group

  14. What is a Product Development Process? • Stage Gate Process • Developed by Robert Cooper/ McGill University • Stage-Gate Product Development processes builds on Robert Cooper's studies of over 2,000 projects to identify the best practices in new product development. • Stage-Gate is a template, or roadmap, for driving new product projects from idea to launch and beyond. • It is one of the world's most widely used processes across multiple industries. The U & I Group

  15. 0 1 1 2 2 3 3 4 4 5 5 6 6 What is a Product Development Process? How it works: New product development begins with an idea and ends with the launch of a new product. The steps between these points can be viewed as a systematic product development process. The Product Development Process divides these into a series of stages. Stages Gates The U & I Group

  16. What are the components of a Product Development Process? Stages Stages: Each stage contains a set of prescribed and concurrent activities, incorporating industry best practices. The activities during a stage are executed in parallel, not in sequence. This ensures that they are carried out quickly and effectively. Stages are cross-functional - all areas of the company contribute. Each stage is preceded by a gate. The U & I Group

  17. What are the components of a Product Development Process? Gates Gates: Gates are the points in the process where a decision must be made. The gate-keepers can choose to Go, Kill, Hold, or Recycle the project. Gates are:       “Quality control" checkpoints:         Has the previous stage been executed in a quality fashion?         Has the project team done its job well?         Is the project attractive from an economic and business standpoint?         Is the Action Plan sound? It is where project prioritization and resource allocation decisions are made. At the end of a gate meeting, a decision must be reached. If the decision is Go, this ensures resource commitments and support from the management. The U & I Group

  18. What are the components of a Product Development Process? Gatekeepers Gatekeepers: Gatekeepers are the team of senior management who make Go/Kill decisions at gates. Gatekeepers:       Are from a different functional areas and can commit resources      Have a pre-set list of criteria and rules - they can't play favorites The U & I Group

  19. Scale Up Test/ Validation Post Launch Audit Business Case Idea Concept Develop Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 What does a Typical Stage-Gate Process look like? “It’s a Funnel” Detail: As you move from beginning to end the data gets more detailed. Mindset: The first few stages focus on creativity and new ideas. The last few stages focus on execution and analytics. The U & I Group

  20. Scale Up Test/ Validation Post Launch Audit Business Case Idea Concept Develop Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 What does a Typical Stage-Gate Process look like? The Benefits of the process:      It puts discipline in an ordinarily chaotic process      It focuses attention on quality of execution      It speeds up the project - because it is cross-functional      It ensures a complete project - no critical steps are omitted      It leads to a better project selection and focused resourcesThe Results: More effective, efficient and faster projects that produces more successful new products. The U & I Group

  21. 0 1 1 2 2 3 3 4 4 5 5 6 6 Overview of a Typical Product Development Process • Stage 0 Discovery/ Ideation • Stage 1 Concept • Stage 2 Build Business Case • Stage 3 Development • Stage 4 Testing & Validation • Stage 5 Launch • Stage 6 Post Launch Audit The U & I Group

  22. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Key Decisions throughout the Process Stage 0: Idea/ Planning and Situation Analysis Gate 1: Decision to do a preliminary investigationStage 1: Preliminary investigation/ Consumer Needs &Idea GenerationGate 2: Decision to build a business caseStage 2: Detailed investigation and business case/ Concept Development Gate 3: Decision to go into developmentStage 3: Development/ Feasibility ConfirmationGate 4: Decision to go into testing and validationStage 4: Testing and validation/ Scale up Confirmation Gate 5: Decision to go into full production and market launchStage 5: Full launch and final report/Product LaunchGate 6: Project Termination Stage 6: Post Launch Audit/ Key Learning’s The U & I Group

  23. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Key Questions to answer all the way through • Does Someone want the product? • Can We sell the product? • Can We make the product? • Can We make money at this? The U & I Group

  24. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Idea/ Planning and Situation Assessment Stage 0 Idea/ Planning and Situation Assessment • Is there a market opportunity on which to focus? • Is this opportunity within our core technical competencies? Focus on: Strategic priorities Portfolio balance Identify opportunities The U & I Group

  25. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Idea/ Planning and Situation Assessment Stage 0: Preliminary investigation Is there a compelling consumer benefit? Is there a competitive advantage? What is the shareholder value? What is the brand &strategic fit? What are the resource requirement for stage 1 Are there any gaps/needs? On which do we focus? Which ideas may/best fill gaps/needs? What technologies could match with these ideas? Are the technologies internally or externally available? The U & I Group

  26. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 1: Concept Gate 2: Concept Review Stage 1: Concept • Focus on Understanding Unmet Needs for Consumers or Customers • Usage of Qualitative and Quantitiative Research • Usage of Category and Trend Analysis • Develop Potential Solutions to key unmet needs The U & I Group

  27. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 1: Concept Gate 2: Concept Review Gate 2: Decision to build a business case Are there any gaps/needs? On which do we focus? Which ideas may/best fill gaps/needs? What technologies could match with these ideas? Are the technologies internally or externally available? What Brands does this fit with? The U & I Group

  28. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 2: Detailed investigation and business case Gate 3: Approval of Business Case Stage 2: Building the Business Case • Define Consumer Segments • Identify key consumer language and behaviors • Identify technical solutions to consumer problems • Test Concepts with consumers • For top rated concepts…what are potential technical solutions/ protocepts? • For key Consumer Segments…what are potential technical solutions/ protocepts? • Test Concepts and Prototypes with consumers The U & I Group

  29. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 2: Detailed investigation and business case Gate 3: Approval of Business Case Gate 3: Decision to go into development What concepts best meet consumer needs? Should a team be formed? Which technologies best fulfill the concepts? What issues are there with each? The U & I Group

  30. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 3: Development/ Feasibility review Gate 4: Development Review Stage 3: Development/ Feasibility Review Develop best consumer/ technical solutions Develop best product/ package Define potential Manufacturing Issues Begin to Define all product / package specs The U & I Group

  31. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 3: Development/ Feasibility review Gate 4: Development Review Gate 4: Decision to go into testing and validation Feasible concept? Fit our capabilities? Is the business proposition acceptable/commercially viable? Finalize launch plans? Or delay? Have we proven tech feasibility? Issues with product specs? How are they quantified? Have risks for capital outlays been reduced? The U & I Group

  32. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 4: Testing and validation/ Scale Up Review Gate 5: Full Production and Market Launch Decision Stage 4: Testing and Validation/ Scale Up Run product at plant location Test plant product/ package with consumers Define Advertising/ Marketing plans Define Sales Roll out Define Distribution Roll out The U & I Group

  33. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 4: Testing and validation/ Scale Up Review Gate 5: Full Production and Market Launch Decision Gate 5: Decision to go into full production and market launch Will the product launch meet expectations? What is product development group to operations hand-off plan? Is the plant consistently producing to spec? The U & I Group

  34. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 5: Full launch and final report Gate 6: Project Termination Ready to Launch Product in Market place • Does Someone want it? • Can We sell it? • Can We make it? • Can We make money at it? • How will We measure success? The U & I Group

  35. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 5: Full launch and final report Gate 6: Project Termination Gate 6: Project Termination Will/ did the product launch meet expectations? What is prod development group to operations hand-off plan? Is the plant consistently producing to spec? What did we learn from this project? The U & I Group

  36. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 6: Post Launch Audit • Audit Document • Key Deliverables include: • Actual versus plan on key dimensions of project and business objectives • - Projected financial returns • - Project cycle time • - Market performance • - Early customer satisfaction and quality statistics • “Lessons Learned” documented for input to subsequent projects. • Product improvement suggestions added to the Idea Bank • Project open issues reviewed, with plans to address. The U & I Group

  37. Appendix • Gate Keeping Guidelines • Key Decisions Through out the Process • Key Questions Through out the Process • Gate Deliverables • Gate Criteria The U & I Group

  38. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 • Gate keeping: How to conduct gate meetings • A document describing the principles for gate keeping and the agenda for the typical gate meeting • The gates must work • Gates have input, criteria and output • Scheduling and preparing for the meeting  • Conducting the gate meeting: a typical agenda • Part A: The briefing period • Part B: Evaluation and debriefing • Part C: The go/kill/hold/recycle decision and the decision on an action plan • Rate using the scoring model • Speeding the approval process: essential rules for professional gate keeping • Gatekeepers are the critical key persons • Essential rules for professional gate keeping leading to speedy projects • Scoring model for gates The U & I Group

  39. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Key Decisions throughout the Process Stage 0: Idea/ Planning and Situation Analysis Gate 1: Decision to do a preliminary investigationStage 1: Preliminary investigation/ Consumer Needs &Idea GenerationGate 2: Decision to build a business caseStage 2: Detailed investigation and business case/ Concept Development Gate 3: Decision to go into developmentStage 3: Development/ Feasibility ConfirmationGate 4: Decision to go into testing and validationStage 4: Testing and validation/ Scale up Confirmation Gate 5: Decision to go into full production and market launchStage 5: Full launch and final report/Product LaunchGate 6: Project Termination Stage 6: Post Launch Audit/ Key Learning’s The U & I Group

  40. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 • Key Questions to answer all the way through • Does Someone want the product? • Can We sell the product? • Can We make the product? • Can We make money at this? The U & I Group

  41. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Idea/ Planning and Situation Assessment Stage 0: Preliminary investigation Is there a compelling consumer benefit? Is there a competitive advantage? What is the shareholder value? What is the brand &strategic fit? What are the resource requirement for stage 1 Are there any gaps/needs? On which do we focus? Which ideas may/best fill gaps/needs? What technologies could match with these ideas? Are the technologies internally or externally available? The U & I Group

  42. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Idea Review • Gate 1: Criteria for Idea Evaluation • Is there a market opportunity on which to focus? • Is this opportunity within our core technical competencies? • What are the strategic priorities/business needs of the group, and what product development activities are linked to each priority? • Were these generated from a well-developed situation analysis as part of the annual planning process? • What is the balance between different types of projects (e.g. platform, new, line extensions, improvements, productivity) and are resources aligned accordingly? (portfolio management) • Is the organization aligned around strategic priorities? • Does everyone in the operating company understand these priorities? • How are all functions and levels of the organization involved? • What financial expectations are being set, and how do these compare to the category (internal and competitive) and operating company targets? • Have screens/hurdles been applied? The U & I Group

  43. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 1: Concept Gate 2: Concept Review Gate 2: Key deliverables include: Identification of compelling consumer or business need Potential for sustainable competitive advantage Potential for shareholder value Preliminary indication of brand and strategic fit Resource requirements for Stage 2 The U & I Group

  44. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 1: Concept Gate 2: Concept Review • Gate 2: Criteria for going into detailed investigation • What underlying consumer/customer insight(s) and consumer needs are this project built on? • How will this project help fulfill the brand promise(s)? • How much economic value should this project create? • What makes this project unique? • Is competitive response factored in? • What are the risk levels associated with this project? • ~Marketing, sales, technology manufacturing, execution, etc. • Which core competencies do we leverage? • Which portions of this project should be done internally vs. externally? • Does successfully executing this project provide new strategic opportunities? • What resources are required to get through conceptualization? • Is the expected economic outcome worth the risks and investment compared to other options? • Have screens/hurdles been applied? • How available or complex are potential technologies? • Do the potential technologies offer any competitive insulation? The U & I Group

  45. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 2: Detailed investigation and business case Gate 3: Approval of Business Case • Gate 3: Key Deliverables include: • Preliminary market assessment • - Compelling need defined • - Target market has been identified and estimated • - Value to consumer has been demonstrated • - Preliminary competitive comparison supports product superiority • - Concept addresses sustainable advantage • - Brand and product line fit have been assessed • - Channel and sales organization fit has been considered • - Logistics and service have been consulted about special issues • - Preliminary market launch strategy exists • Technical feasibility analysis • - Technology works for the intended purpose • - A path exists to target cost • - Areas of risk have been identified, with plans to address • - Manufacturing and critical suppliers have been consulted, and “buy in” to cost targets, risks, and plans for Conversion • - Environmental, codes, product liability, intellectual property, and other relevant legal or regulatory issues have been assessed • - Quality, productivity, and other goals are supported with reasonable plans to achieve • Preliminary business analysis • - Estimates of volumes, pricing, ongoing costs, and project costs • - Profitability, cash flow, and financial measures (IRR, NPV, EVA) • - Sensitivity analysis has helped disclose risks The U & I Group

  46. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 2: Detailed investigation and business case Gate 3: Approval of Business Case • Gate 3: Key Deliverables include: • Preliminary customer and product requirements • - Preliminary model line/product range defined • - Functions • - Features • - Performance levels • - Target cost • - Quality and reliability levels • - Other characteristics relevant to the consumer (size, color, weight, etc.)- Brand differentiation • Preliminary design specifications • - Product architecture • - Preliminary appearance, ergonomic design • - Key materials and technologies • - Quality plan developed with forecast of minimum prototype quantities • - Critical suppliers identified, with assumptions disclosed • Plans for Conversion • - Key risks and critical success factors • - Key activities, resources and timing • - Identification of potential bottlenecks in key support areas such as model shops, labs, and testing • - Plan for involvement of additional marketing and service personnel for early field tests and, expanded market launch planning • - Recommendation for capital “seed money” for long lead-time items The U & I Group

  47. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 2: Detailed investigation and business case Gate 3: Approval of Business Case • Gate 3: Criteria for approval of the business case • What have we learned regarding the previously asked questions: • ~ What underlying consumer/customer insight(s) is this project built upon? • ~ How will this project help fulfill the brand promise(s) (Total Brand Value)? • ~ How much value should this project create? • ~ What makes this project unique? • ~ What are the risk levels associated with this project? • Marketing, sales, technology manufacturing, execution, etc. • ~ Have screen/hurdles been applied? • ~ Which core competencies do we leverage? • ~ Which portions of this project should be done internally vs. externally? • ~ Will successfully executing this project provide new strategic opportunities? • ~ What resources are required to get to conceptualization? • ~ Is the expected economic outcome worth the risks and investment compared to other options? • ~ Does technology protocept show potential to deliver intended benefits? • ~ Is the assessment of manufacturing capabilities linked to consumer specifications?   The U & I Group

  48. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 3: Development/ Feasibility review Gate 4: Development Review • Gate 4: Key Deliverables include • Executive summary • - What is the opportunity, what’s new about it • - Key market parameters • - Product positioning,, brand and strategy fit • - Sustainable competitive advantage • - Key activities and resource requirements to implement • - Key financial parameters • - Key risks • Product summary • - Product description (styling, technology, cost, features) • - Benefit to consumer/uniqueness • - Test plans completed and remaining (mechanical, electrical, endurance, reliability, environmental, performance, safety) • - Technical risks reduced and remaining • - Target product cost, and risks to achieving • - Manufacturing process and capability • - Quality/reliability forecast • Market analysis • - Summary of research completed and remaining • - Target market description • - Product and brand positioning • - Size of market, expected introduction, ramp-up • - Distribution and service support requirements The U & I Group

  49. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 3: Development/ Feasibility review Gate 4: Development Review • Gate 4: Key Deliverables include • Competitor analysis • - Competitive comparisons • - Anticipated competitive reaction and plans to respond • - Key elements to “sell against” competitive product • Draft Implementation plan • - Key activities, resources and timing to implement manufacturing, supplier, and supporting processes • - Key milestones for remainder of project, supported by project schedule • - Preliminary production plan, with ramp up volume and sequence • - Preliminary market launch plan, with resources, responsibilities, timing identified • Risk management plan • - Identification of major risks with probability and consequences disclosed • - What can be done to avoid risks, or manage them as they occur? • - What are cost/return of various contingency plans? • Financial analysis • - Projected volume with ramp up assumptions clearly disclosed • - Projected financial returns, with sensitivity and probability analysis • - IRR, NPV, EVA, both with and without sunk costs considered • Final requirements and product/process design specifications • - Requirements and design developed • - Appearance defined, tested, and documented • Preliminary engineering and manufacturing engineering specifications • - Key product, process, and quality system specifications should be written and reviewed • - Key parts identified • - Compliance with regulatory, environment, safety, and codes requirements issues defined The U & I Group

  50. Scale Up Test/ Validation Post Launch Audit Business Case Develop Idea Concept Launch 0 1 1 2 2 3 3 4 4 5 5 6 6 Stage 3: Development/ Feasibility review Gate 4: Development Review • Gate 4: Criteria for development review • What underlying consumer/customer insight(s) is this project built upon? • How will this project help fulfill the brand promise(s) (Total Brand Value)? • How much value should this project create? • Can this product be viewed as a platform with future legs? • What is required to make this project successful? • ~ How aggressive are the market, development, and execution assumptions? • What are the risk levels associated with this project? • ~ Market an development. • ~ What contingency plans have been developed? • ~ Will they address the risks appropriately? • Do we have the ability to scale-up without compromising the integrity of the original concept? • Will these product/concept fit tests occur multiple times as the protocept is refined into production form? • Is the business proposition still on track with the financial hurdles? • Are adequate plans in place for product launch? • ~ Have risk management/contingency plans been created for the launch? • ~ Have critical product/process design elements been finalized and preliminary engineering and manufacturing specifications set? • What portions of this project should be done internally vs. externally? • What resources are required to get to the business stage gate? • Are the resource requirements in line for a project of this nature? • Is the expected economic outcome worth the risks and investment compared to other options? • Have any downward revisions Advertising and Promotions been factored into a revised volume and business plan? Does this revised plan still meet hurdle rates? • Have technical operations (including packaging feasibility assessment vs. timing) been quantified? • Have development of consumer-driven product attributes linked to consumer-defined product specifications been completed for the lead concept? The U & I Group

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