Page 1 of 3 Step 1 - New Product Proposal Brief description of new product:_____________________________________________ ________________________________________________________________________ (Attach additional documentation, if necessary) Proposed by:_______________________________ Telephone:_______________________ Date:__________________ Email:_____________________________ Initial Analysis 1. Does the new product fit in an existing product line? Yes____ No____ If yes, what product line?_____________________________________________ 2. Do we possess the production and/or service capability to deliver this new product? Yes____ No____ If yes, what specific capabilities would be employed?_______________________ __________________________________________________________________ 3. Do we possess the technical and/or engineering capabilities to develop this new product? Yes____ No____ If yes, what specific capabilities would be employed?_______________________ __________________________________________________________________ 4. Is the new product aimed at an existing customer segment for our organization? Yes____ No____ If yes, what customer segment?________________________________________ 5. Does the new product fit our current strategy? Yes____ No____ If yes, what is the connection to current stratregy?_________________________ __________________________________________________________________ 6. Does the new product fill and existing need or desire? Yes____ No____ If yes, what is the need or desire?_______________________________________ Page 2 of 3 7. Would we be the first organization to fill this need or desire in this manner? Yes____ No____ If no, who already addresses the need or desire in this general way?___________ __________________________________________________________________ 8. Do our existing suppliers and subcontractors have the capability for this product? Yes____ No____ If yes, who will be the key suppliers and subcontractors?___________________ __________________________________________________________________ 9. Do our sales partners (dealers, retailers, sales representatives, etc) have the capabilities to handle this product? Yes____ No____ If yes, who will be the key sales partners?________________________________ __________________________________________________________________ 10. Will the sales for this new product represent at least $100,000 in the first year? Yes___ No____ If yes, what evidence indicates this level of sales?__________________________ __________________________________________________________________ 11. Will sales of the new product grow by at least 15% in each of the first 3 years of the products life? Yes____ No____ If yes, what evidence indicates this level of sales?__________________________ __________________________________________________________________ 12. Will customers for this product reside in geographical areas currently served by our organization? Yes____ No____ If yes, where will the bulk of the customers reside?_________________________ __________________________________________________________________ 13. Will this product represent a completely new innovation for the marketplace? Yes____ No_____ If yes, what makes it unique?__________________________________________ Page 3 of 3 14. Do we have the time and resources to pursue this project effectively, given the existing load of projects and new product development already undertaken? Yes____ No____ If yes, what projects could possibly impede progress anyway?________________ __________________________________________________________________ 15. Additional issues related to this proposal:___________________________________ ________________________________________________________________________ (Attach documentation if necessary) Score and Approval Guidance Score (Total number of “yeses” from above):______ Score Guidance 0-4 RED (danger, possible incompatibility, high risk) 5-8 YELLOW (caution, moderate risk) GREEN (attractive, favorable fit, synergies) 9-14 Approvals needed to proceed to Detailed Market Analysis CEO V.P. of Innovation Director of Sales V.P. of Innovation Director of Sales Director of Sales Approvals ________________________ Approved by ________________________ Title ____________ Date ________________________ Approved by ________________________ Title ____________ Date ________________________ Approved by ________________________ Title ____________ Date New product #______________ New product sponsor:_______________________________________