New Product Success Quiz

New product development, a point Pleasant, New Jersey newsletter developed a quiz to help determine new product success. Scoring 15 or more affirmative answers almost assures success, 11 to 14 means possible success, eight to 10 is a tossup, six to eight is a risky proposition and less than six means AVOID!

Here's the quiz:

1. Has the product been in development at least one year?
2. Do you now make a similar product?
3. Are you presently selling to a related customer market?
4. Does R&D comprise over one third of the product budgets?
5. Will it be test marketed for at least six months?
6. Is there a private secretary for the person in charge?
7. Will the ad budget be at least 5% of the total projected sales?
8. Will a recognized brand name be on the product?
9. Would you take a first-year loss?
10. Do you need the product more than you want it?
11. Have you developed three advertising copy samples?
12. Is it really knew instead of just improved?
13. Can the buying decision be made by one person?
14. Will it have fewer than five versions?
15. Will it not need service/repair?
16. Does the project have a code name?
17. Will the company president see the project leader without an appointment?
18. Was the leader involved in the two most recent projects?
19. Will it be on the market for more than 10 years?
20. With the project leader quit, and take the idea with him, if the company doesn't back it?

Source , the Wall Street Journal