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TUTORIAL 1 TESTING THE VIABILITY OF THE NEW PRODUCT CONCEPT

TUTORIAL 1 TESTING THE VIABILITY OF THE NEW PRODUCT CONCEPT. USING THE SLIDE PRESENTATION. This slide presentation is fully interactive. Although it has been pre-programmed to advance automatically, you may override these times by using your mouse.

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TUTORIAL 1 TESTING THE VIABILITY OF THE NEW PRODUCT CONCEPT

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  1. TUTORIAL 1TESTING THE VIABILITY OF THE NEW PRODUCT CONCEPT

  2. USING THE SLIDE PRESENTATION • This slide presentation is fully interactive. Although it has been pre-programmed to advance automatically, you may override these times by using your mouse. • Pressing the right mouse button will pause the program and provide you with a menu which allows you to expand the view of the slides to Full Screen and move backwards or forward through the slides. • Alternatively you may click on the scroll bar on the right of the slide to move forwards or backwards through the slides.

  3. What You Will Learn • After completing Tutorial 1 you will be able to enter the data required to test the feasibility of your new product concept. • After completing Tutorial 2 you will be able to enter data required to test the feasibility of your Pre-production strategy. • After completing Tutorial 3 you will be able to enter the data required to test the feasibility of your Commercialization strategy.

  4. Steps to Test the New Product Strategy Step 1 Test the viability of your product concept Step 2. Develop and test your Pre-production strategy Step 3. Develop and test your Commercialization strategy

  5. TABS IN THE NEW PRODUCT TEMPLATE Welcome - This tab links the New Product Template to the Online Course Menu - This tab provides a menu to help navigate through the New Product template as well as links to these tutorials. Concept - This worksheet will test the feasibility of your new product concept. Prototype - This worksheet will test the feasibility of your Pre-production strategy. Full Production - This worksheet will test the feasibility of your Commercialization strategy. Summary Statements - Provides a series of proforma financial statement summaries.

  6. HOW TO SET UP CONCEPT STAGE WORKSHEET You may work directly in the Concept worksheet or use the menu found in the Menu tab to help enter the data. Step 1 Enter your Company Name Step 2. Enter the market research data Step 3. Enter the production cost data Step 4. Enter the capital requirements Step 5. Enter the Opportunity Cost for the project Step 6. Enter the adoption rates and sales volumes Step 7. Enter the year in which the project will begin

  7. 1 2 In the Menu pageclickEnter the Company name. This will take you to the Concept worksheet. In the Concept workbook enter the name of your company where it says Your Company Name. You may enter data into any of the blue shaded areas. ENTER THE COMPANY NAME.Follow the Numbered Orange Dots to Enter the Company Name.

  8. 3 4 In the Menu pageclickMarket Research. This will take you to the Concept worksheet. In the Concept workbook enter the results of your market research. You may enter data into any of the blue shaded areas. ENTER YOUR MARKET RESEARCHFollow the Numbered Orange Dots to Enter the Market Research.

  9. 5 6 In the Menu pageclickProduction Costs. This will take you to the Concept worksheet. In the Concept workbook enter the your expected production costs. You may enter data into any of the blue shaded areas. ENTER YOUR PRODUCTION COSTSFollow the Numbered Orange Dots to Enter the Production Costs.

  10. 7 8 In the Menu pageclickCapital Requirements. This will take you to the Concept worksheet. In the Concept workbook enter the your expected capital costs. You may enter data into any of the blue shaded areas. ENTER YOUR CAPITAL COSTSFollow the Numbered Orange Dots to Enter the Capital Costs.

  11. 9 In the Menu pageclickOpportunity Cost of Capital. This will take you to the Concept worksheet. 10 In the Concept workbook enter the your Opportunity Cost for the project. You may enter data into any of the blue shaded areas. ENTER YOUR OPPORTUNITY COSTFollow the Numbered Orange Dots to Enter the Opportunity Cost.

  12. In the Menu pageclickAdoption Rates & Sales Volumes. This will take you to the Concept worksheet. 12 11 In the Concept workbook enter the the Adoption Rates and sale volumes for the project. You may enter data into any of the blue shaded areas. ENTER YOUR ADOPTION RATESFollow the Numbered Orange Dots to Enter the Adoption Rates.

  13. In the Menu pageclickYear in which the project will begin. This will take you to the Concept worksheet. 14 13 In the Concept workbook enter the the year in which the project will begin. You may enter data into any of the blue shaded areas. ENTER THE YEAR THE PROJECT WILL BEGINFollow the Numbered Orange Dots to Enter the Start Year.

  14. 15 The Benefit - Cost Ratio must be greater than 1.0 in order for the project to be economically sound. CHECK THE PROJECTS BENEFIT - COST RATIOA sample Benefit - Cost table is provided below.

  15. What do you want to do next? Continue With The Tutorials Repeat The Tutorial

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