Having a shared understanding amongst all stakeholders how to assess your product concept or business model blueprint is a huge challenge in many organizations. Such assessment is essential in various stages of the product and/or business model design, including
- Selection of most-valuable options as result of the exploration of the opportunity space
- Decision milestone at the end of a concepting phase before significant development investments
- Commercial Readiness/Launch Decision
General good practice is to assess the maturity of the product (concept) in regards of Desirability, Viability and Feasibility.
In our experience, it is very insightful to add following things.
Firstly, adding Marketibility as the fourth quandrant of analysis.
Secondly, we are classifying the analysis and associated questions in terms of the general ambition of your competitiveness (PLAY/LEAD/TRANSFORM) in the market. *)
The result is a very transparent assessment scheme as guidance for daily decision making of the product team, reminder on critical questions that otherwise would have not been on the radar and known pattern for preparation, discussion and decision making at critical milestones.
Want to learn more? Try it now!
*) c.f. Transformationale Produkte, Matthias Schrader