NEW PRODUCT DEVELOPMENT
Objective
The basis for interest (BFI) document is used in many organizations as a tool to gain
management approval for the new product development process for a given concept. It
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Order Paper Nowis typically action-oriented in that it requests the necessary funding to conduct research,
build a production line, and so forth. Consequently, it is essential that the new product-
marketing manager be able to sell the concept based on well-grounded reasoning. In
many cases, some of the product development has preceded the basis document;
hence, the manager must provide a status report on what has been done and what
needs to be completed prior to commercialization.
Your task will be to assemble a basis for interest for the new product of your choice.
Using the skills taught in this course, you should be able to gather data, analyze the
data, discuss preliminary marketing issues, conduct a financial evaluation, and address
implementation/commercialization.
The audience for the BFI is senior management who is serving as a cross-functional
team tasked with making approvals on future new product development resources.
From a stage gate perspective, this is a gate decision being made just before the
development stage (Crawford, Bendetto, p. 191, Figure 8.1).
You may use information from your company only if it is not proprietary. You cannot say
your idea is secret and cannot be shared.
Deliverables
Week 6
Based on the information provided in the Objective and the Guidelines sections on this
page, submit a Course Project paper to the Week 6: Course Project Dropbox.
Guidelines
Use the following outline on the Course Project paper.
Recommendation Overview—15 points
o This section summarizes who, what, where, when, why, and maybe how; it explains the
purpose of the project.
o The product concept should be spelled out very clearly.
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