1. Concept Screening Template
Concept Screening is a process that an organization can use to narrow down the number of ideas that are commonly generated for a new product or service. In order to ensure that the strongest ideas are selected for further development, they need to be screened against a common criteria.
Concept Screening allows for potential products or services to be compared against current ones to garner a better understanding of how a new product will fare on the market. After all of this information has been gathered, every potential idea should be compared against the others to identify the one(s) that will be further developed. Notably, this process can also be used when organization members need to reach agreement about which potential idea to pursue.
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2. Concept Screening Template
Step 1: Create the criteria against which potential ideas for a new product or service will be compared.
Criteria
Concept A
(5= High; 1= Low)
Concept B (5= High; 1= Low)
Concept C (5= High; 1= Low)
Concept D (5= High; 1= Low)
Strategic Alignment
How much alignment there is with our current strategy? 3 4 2
Market Size
How big is the market opportunity?
Market Growth Forecast
How much is the market expected to grow? 5
‘Wow’ Factor / Value Wow much will it positively impact the consumer or customer?
Technical Feasibility How feasible will it be to get the technology?
Manufacturing Feasibility How feasible will it be to produce at scale?
Delivery Feasibility
How feasible will it be to distribute?
Profitability
How profitable is the business model?
Competitive Advantage How likely is competitive advantage?
Enter Additional Criteria here
Column Total 12 10 11 9
Step 2: Identify alternative concepts and/or existing product on the market against which the new ideas are compared.
Step 3: Rate concepts against each other and tally the results. Have a conversation around the top rated concepts.
Step 4: Select one or more of the concepts to be further developed.
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