To Do or Not To Do? That Is The Burning Question Facing Businesses Like Yours Right Now

Most of us have a dream product or two and wants to expand it or reach that next level in a clever and powerful way.

Doing that is not going to be easy, but with the right approach we can totally deliver the results and value you always wanted. It all comes down to understanding the scope of your product and how can you make it a reality in a professional manner. And that’s where the New Product Feasibility Study comes into play.

What is the New Product Feasibility Study?

This is a service we created for our customers and it will provide an independent and very professional assessment of your potential products and services. If you have a method, plan or product that you want to make a reality, then we are here to help with all of that. We created a unique, powerful system that really pushes the boundaries and delivers astonishing results while also making it easy for you to see if an idea is good or even sustainable for that matter. The more you try out and expand your reach, the more you can push the boundaries and bring in the ultimate experience.

We want to make it easy for you to understand if it’s possible to create the desired product within a certain budget. We will also let you know if the return on investment is a possibility or not, and all of that will be provided in a clever, easy to read report that you can access on the fly.

A starting point in your product’s journey

Every product will have a different journey in the business world, and in this case the primary focus is to create one that’s dependable, accessible and very helpful for your clients. That’s why you need our New Product Feasibility Study service. With its help you have a very helpful, independent and systematic assessment that will help you figure out what’s wrong and what can be improved all the time. This service is necessary before the product’s inception, however we can also offer feasibility services for a variety of features that you want post-launch. However, the initial, New Product Feasibility Study is crucial because it will help you figure out if there’s actually a possibility to create your dream product while also being able to monetize it wisely.

What do you get in the New Product Feasibility Study?

We created the New Product Feasibility Study to be a stellar decision tool for any company. Every product will require quite a lot of time and money invested in it. If you really want to push things to the next level, you want to tackle new challenges all the time and try out new things. That means creating a product which is different and powerful. We understand that, which is why our service covers a plethora of different features and ideas, as you will notice below.

  • Financial projections
  • Executive summary
  • Schedule
  • Staffing and organization
  • Suggestions to create a great outline marketing strategy
  • Marketplace study
  • What technologies you may need
  • A description of your service/product
  • Recommendations based on findings

If you choose to work with us on a new NPD project, then the New Product Feasibility Study may be provided free of charge. Otherwise, it will be available as a separate service with its own pricing point. It’s important to note that this is a very important step in the creation of any product. Having all this information in a dedicated report will help eliminate the hassle and it will show whether you actually need to invest so much time and effort in your idea. Sometimes it will be worth it, other times less so. We will gather all the data and let you know exactly what you have to do!

Our steps

Once you choose to access our New Product Feasibility Study service, we will conduct the preliminary analysis, prepare the projected income statement, propose business operations and organization changes, then review and analyze everything. At the end of our study you will always have an outline which clearly says whether this is a good time/financial investment or not.

The benefits of our New Product Feasibility Study service

With help from our service you will have a structured, very professional study that clearly shows how impactful your product will be in the short and long term. This is very important because you will get all the information required to figure out any bad investments before you make them. You will actually get to identify mistakes like choosing the wrong location, not pricing the product properly, not being able to live up to the budget, spending too much time and money on features no one needs, etc.

Once you use our New Product Feasibility Study service, you will get a reality check that clearly shows how good your idea is and whether it can become a great product or not. It’s the introductive service we provide for our business, and you can easily use it separately if you have a business idea and want to see if it’s good or not. Don’t hesitate and get in touch with us if you want to see how feasible your idea is, you will be quite impressed with our comprehensive studies and great attention to detail

Notify of
newest most voted
Inline Feedbacks
View all comments

[…] Maybe to consider and thoroughly understand some of the following factors of good market research ma… […]

I am on board with your new product feasibility study. It makes the entire process of innovation better and easier to handle.

I can’t stress enough how vital a good feasibility study is to a new product development. Lack of one can lead to wastage of a lot of resources.

One shouldn’t move to product design phase before a feasibility study. Following the right process can save a lot of time and money.

There are people who have done their physical product development without a feasibility study. If they succeed it’s safe to say they were just very lucky.

During idea generation we should dream big but at the same time stay realistic. This article strives to point out the importance of being realistic.

Thanks for the detailed feasibility study offered by Innovolo. These will go a long way in encouraging businesses to create ideas that actually work.

Investing in feasibility studies can do wonders for new product ideas. Guaranteed success might just be one of them.

The thing that causes projects to fail at idea commercialisation is ignoring the feasibility study part. This just underpins the importance of said feasibility study.

I think I am now better informed on how to make money from my idea.

Thanks Innovolo for revolutionizing innovation in Cornwall. I hope you continue with the great work you already do.

Why is innovation so difficult is because we are afraid of failure. That is why successful businesses need feasibility studies first. Great to know that your company helps with that.

I can definitely see the benefits in getting a proper assessment, so I know how to make money from my idea. I love this service because it has the property owner’s best interests in mind, with an elite outside perspective. Great method for understanding feasibility, target audiences and time management.

Expansion is inevitable for any business, Especially if it is a blooming one. That said every owner starts with how to make money from my idea? From there everything will follow. As for me whether it is a growing business or just a simple one. What natters is how it affects everyone. May it be the owners or clients.

In the actuality is very hard to come with new prodcut ideas, a feasability study seems the logical choice to follow before deciding to invest money and time developing a product.

Would love your thoughts, please comment.x