Prioritizing New Product Ideas Template

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Enhance your product development process with a systematic approach to prioritizing new product ideas. This template leverages a priority matrix to evaluate the viability and market potential of each idea, ensuring that your resources are focused on the most promising opportunities.

From reviewing current market trends to prototype development, follow a structured sequence of tasks that will help you identify, assess, and develop top product ideas for success in the competitive food industry.

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Prioritizing New Product Ideas for Priority Matrix

Prioritizing New Product Ideas in Priority Matrix

Sort and prioritize new product ideas in the food industry using a priority matrix to focus on promising opportunities.

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Proposed Tasks

High Impact, Urgent

  • Task 1: Review Current Market Trends - Due in 1 week
    ☐ Research recent market trends ☐ Identify consumer preferences ☐ Spot potential opportunities
  • Task 3: Preliminary Viability Assessment - Due in 3 weeks
    ☐ Assess feasibility of each idea ☐ Evaluate initial costs ☐ Consider production and distribution capabilities
  • Task 4: Market Potential Analysis - Due in 4 weeks
    ☐ Analyze market size for each idea ☐ Consider consumer acceptance potential ☐ Determine profitability
  • Task 8: Detailed Viability Assessment - Due in 8 weeks
    ☐ Conduct detailed feasibility study for refined concepts ☐ Finalize costs and profitability

High Impact, Not Urgent

  • Task 2: Idea Brainstorming Session - Due in 2 weeks
    ☐ Organize a brainstorming session ☐ Generate new product ideas ☐ Document all ideas
  • Task 5: Prioritize Ideas - Due in 5 weeks
    ☐ Rank ideas based on viability and market potential ☐ Identify high priority ideas
  • Task 7: Conduct Concept Testing - Due in 7 weeks
    ☐ Test concept with target consumers ☐ Gather feedback ☐ Refine concept based on feedback
  • Task 10: Prototype Development - Due in 10 weeks
    ☐ Develop product prototype ☐ Test prototype

Low Impact, Urgent

  • Task 6: Develop Concept for Top Ideas - Due in 6 weeks
    ☐ Create detailed concept for top ideas ☐ Define product features and benefits
  • Task 9: Finalize Product Specifications - Due in 9 weeks
    ☐ Define final product specifications ☐ Prepare product blueprint