New Product Questionnaire
This series of questions is to be completed by a SBDC client working to bring a new product to market. A client will be assisted and guided by their local SBDC business consultant, who will use this NPQ form as a referral to the specialty Engineering Development Services based at the Bucknell University SBDC.
Remember - there is always competition! Ford, GM, and Chrysler are not just competing with Honda and Toyota… To get from “here” to “there” (the most basic statement of the problem) you might take a car, but perhaps also a motorcycle, bike, plane, train, subway, boat, Segway, pogo stick, roller skates, or just your own two feet. Start thinking about how your product will differentiate itself from its competition.
Click to download a word document of the NPQ
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What problem does this new product solve?
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Describe the new product.
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How does it solve that problem?
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Who are your primary customers?
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What competitive products or methods are currently available?
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What are your product’s strengths and weaknesses compared to the competition?
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List the Features and Benefits of your product.
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Are you an existing company or is this a startup effort, and is your goal to start a company to produce this product or license it to another firm?
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Can the product be manufactured with existing processes and materials?
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What are the expected manufacturing costs?
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What is the targeted retail price and how have you determined it?
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Has any patent research been performed?
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What initial capital requirement does this project have?
