Pipeline Accelerator Insight #100: Establish New Product Commercial Feasibility First
It’s essential to make sure that you establish feasibility for commercial, technical, manufacturing, regulatory, and intellectual property before putting significant resources into a new product program.
But you should always start with commercial feasibility.
That includes answering how much economic value the product creates for the customer, what price will give them a rapid payback, and some idea of whether you can make enough money to earn a good return at that price.
Without a potential return, is it even worth exploring technical feasibility?
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