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What tools and/or methods do you use when researching a new product / service idea?
The goal of creating a business case and understanding if you should pursue the opportunity or not.
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2 Answers
Hey Eric,
A couple of friends and I put together Factbrowser http://www.factbrowser.com/ as a way of doing some of the preliminary research into a particular industry, technology or consumer group. Factbrowser aggregates market research data and connects you to the original source. It's not the only tool/method you'll need, but it might help you get started.
Best of luck.
I use McKinsey's Three Horizons of Growth approach with clients. It's a great way to understand what it takes for a new product/service to progress in a systematic way to become a part of the core business. The dilemma is that many companies don't recognize the different skills needed to:
1. Pruning and selecting new ideas for further effort
2. Supporting and growing the idea into a viable product
3. Managing and making decisions on what to drop or add to the core business
Here's a link for more info:
https://www.mckinseyquarterly.com/Enduring_Ideas_The_three_horizons_of_growth...
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