PHD Discussions Logo

Ask, Learn and Accelerate in your PhD Research

Question Icon Post Your Answer

Question Icon

What metrics are used to screen new product ideas during early development?

 I am studying product innovation and need to understand the key metrics used in early-stage idea evaluation. This includes economic viability, market potential, environmental sustainability, and technical feasibility, helping firms prioritize projects with the greatest potential impact.

All Answers (1 Answers In All)

By Govind Answered 7 months ago

 From my experience, early-stage product screening relies on a combination of financial, market, technical, and sustainability metrics. I have seen firms evaluate market potential, production costs, scalability, and alignment with strategic goals. I would recommend including environmental impact and social responsibility as key criteria, especially for green or sustainable products. Risk assessment, including regulatory and technological uncertainty, is also crucial. By applying a structured evaluation framework, companies can prioritize ideas with the highest potential return, societal benefit, and environmental compliance, ensuring resources are invested in concepts likely to succeed and create meaningful impact.

 

Your Answer