NEW PRODUCT FEASIBILITY ANALYSIS

Overview

Often in business a new product opportunity will arise. The opportunity may be hastily grasped with a lack of planning, which can lead to disastrous consequences. The following pitfalls will occur:

• Forwarding a price i.e. to a major retail chain, without sufficient research into how much the direct costs will be.
• Not having the right equipment to produce efficiently.
• No, or insufficient discussion with key stakeholders in regards to the feasibility of the new product.

What We Do

• Offer independent advice on the feasibility of a new product.
• Advise that production performance trials are undertaken first, so direct labour costs for the product can be properly established.
• Calculate the costs, and determine a profitable and competitive price. This will be the major part of the feasibility analysis.

Your Results

Boardroom Innovations will ensure that:

• A potential threat to the business is removed. - If the product is found not to be viable.
• All stakeholders understand all angles of the new product feasibility analysis.
• Research into new equipment is undertaken which could make “new product” project feasible.