In: Business and Management

Submitted By Eryan86
Words 1235
Pages 5
According to Trott, 2012, screening of business opportunity is an evaluation process that is not a one-time activity but needs to take place at every point of the new product development process.
Product lead-users and product experts are sought to help in this activity. The key to this screening process is to enable the selection of feasible ideas and elimination of those which are deemed unworkable.
There are typically 4 activities involved in the screening process, namely, initial screen, customer screen, technical screen and final screen.
Before venturing into a home-delivery food business, we need to perform an initial screen which is to evaluate if the service will fit with the existing business. For example, whether the type of food we are serving is feasible for a home delivery. Would the quality of the food be compromised due to the packing and delivery time? These are some of the screening questions that should be considered at the initial screen.
We also need to gather feedback from potential customers in order to develop our prototypes. For example, how long would customers be willing to wait for the delivery to arrive before they consider it to be too long? Customers’ preferences can be collected through this customer screen so that we can develop prototypes that meet their expectations. Technical screen is another important screening as it enables us to find out what are the technology and system needed to venture into this new service.
The final screen is to evaluate all the different screenings with different weightings and scores to find out if the new service is feasible.

Trott, 2012 states that a valuable contribution can come from market research in the development of innovative products.
In performing market research, we need to gather relevant data that will enable us to understand consumer trends, attitudes and behaviour towards…...

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