Originally published: 12/02/2024 09:08
Last version published: 13/02/2024 11:23
Publication number: ELQ-94000-2

New Product Strategy Templates

22 Powerpoint Templates to perform standardized research and create New Product Strategy reports.

by Newron Labs
Turn data into strategic insights in record time.

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new product new product strategy product development

Description

1. Product Snapshot (Less relevant for New Project cases)
- Will the client have any competitive advantage that prevents competitor entry (such as a patent or a way to lock in customers) once the client has unveiled the new product?
- How is the client’s product different from and/or better than competing products? What are the substitute products?
- Pros and cons of client product (for example, environmental and social considerations)
- Is there a risk that that the new product will cannibalize another of the client’s products?
2. Customer Strategy (Less relevant for New Project cases)
- What is the appropriate customer mix to target? How does this affect profitability and marketing strategy?
- What are the distribution channels? Can the client use its existing distribution channels?
- What is the methodology/strategy to attract customers to try the product and potentially switch?
- What is the methodology/strategy to retain newly acquired customers?
3. Market Entry Strategy (Mostly less relevant for New Project cases)
- Competitive advantages/Barriers to Entry
- Approach to entering (Acquisition or enter organically?)
- Time/investment required to enter market
- Product pricing strategy
- Technology, regulatory or other risks to entering this market
4. Market Landscape
- Current market size
- Future market growth
- Current customer and product mix
- Key competitors in the market, their strategy, Market Shares (current and historically over time), product differences and potential response to client’s actions
5. Product/Project Funding
- Does the projected profit justify the required the Research and Development expenditure, the initial capital requirements, and any ongoing investment needs?
- What is the Opportunity Cost of the required funding?
- What is the required financing and how is the Research & Development being financed?
- Will the project result in Economies of Scale (i.e., cost reductions for increased production) elsewhere in the company? (Less relevant for New Product cases)

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