The Concept Coining step is the one during which we transform the 5 to 15 ideas coming out of step 3 into fully developed New Product Concepts.
This means that the product positioning will be refined (A general area of positioning already exists as a result of our problem-solving product development process) and that all the aspects of the product's feasibility will be examined (Feasibility, manufacturing, packaging, legal, etc.)
The objective is not to resolve these issues, but simply to list them and to get an idea of the time and costs of resolving them.
When we're done, the team will be able to recommend 2 to 4 new product ideas for further development, along with a development schedule, capital and personnel needs, sales projections etc.
This is where our involvement ends. ...even though we wish it wouldn't.
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