ideawise

Product Viability Evaluator

Below is a sample implementation of a QS formula which we have found to be useful for a wide range of potential products.

If you want to evaluate the market potential of something simply choose the answer for each category which most accurately describes your product, and then consult the scoring information at the bottom of the page.

Intellectual Property Components
Patent Status
Trademark Status
Brand Status
General Brand Perception
Target Market Brand Perception

Quantitative Components
Production Status
Reproduction Barriers
Production Capacity
Margin Between Cost and Retail Price

Marketing Components
Competitors
Product Quality
Number of Target Markets
Size of Target Markets
Target Market Maturity

Character Components
Uniqueness
Personal Impression of Potential
Is your product PRACTICAL in nature like food, shelter, electricity, or transportation, etc.?
Is your product FUNCTIONAL in nature like no-spill coffee cup, a vacuum cleaner, a ceiling fan, or a station wagon with extra storage, etc.?
Is your product EMOTIONAL in nature like fresh ground gourmet coffee, designer furniture, HDTV, or a sports car, etc.?
Perceived Problem Solving Capacity
Sensory Attractiveness
Does your product have 'the smile factor", In other words, when people first look at your product... does it usually make them smile?

Your product's evaluation score is:

This particular QS Formula has been "normalized' to fit roughly into a 100 point range in round numbers. A product which scores anything over 50 would definitely merit closer and more extensive evaluation and strategic planning, but the score is certainly not a guarantee of success.

Similarly, a score lower than about 30 suggests that the product faces some significant challenges and may need to be reevaluated or repositioned to make the most of its best features.

If you want to go a bit more in depth in discussing your product or business feel free to contact us. There is no charge for an initial consultation, and we just may be able to help you get what you are looking for.

625.320.9700

“A moment's insight is sometimes worth a life's experience.”
Oliver Wendell Holmes, Sr.