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Idea screening

This is used to evaluate innovative product ideas, strategies and marketing trends. Idea screening is sometimes called product screening. Idea screening criteria are used to determine compatibility with overall business objectives and whether the idea would offer a viable return on investment. Whatever does not meet these criteria is typically discarded.
  1. The object is to eliminate unsound concepts prior to devoting resources to them.
  2. The screeners must ask at least three questions:
    1. Will the customer in the target market benefit from the product?
    2. What is the size and growth forecasts of the market segment/target market?
    3. What is the current or expected competitive pressure for the product idea?
    4. What are the industry sales and market trends the product idea is based on?
    5. Is it technically feasible to manufacture the product?
    6. Will the product be profitable when manufactured and delivered to the customer at the target price?

The way (for an inventor) to make money is to go find a customer with a problem, solve it, and sell him the solution. "But I have a solution to a problem that everybody has." You don't sell to "everybody" - you sell to people. Go ask some people whether they'd buy it - and not your next door neighbor.

Now you have at least some objective notion of whether the thing might sell, and you know at what cost you have to bring it in at. If you're honest with yourself, this alone will screen out 90-95% of your ideas. You've spent some time - but, importantly, no money. This applies whether you're intending to manufacture or license. If a potential customer doesn't get excited about the possibilities of buying from you, it's not likely they'll get excited about buying from anyone else.

For ideas that get through this screen, ask yourself, "Do I have the sales and business skills necessary to put this across?" Carrying it half way (or even most of the way) doesn't count. You'll have spent money, but there'll be no return (at least no profit) until the end, i.e., until the product is actually selling in the marketplace.

Idea screeners must at least ask these questions:
  1. Will the customer in the target market benefit from the product?
  2. What is the size and growth forecasts of the target market?
  3. What is the current or expected competitive pressure for the product idea?
  4. What industry sales and market trends is the product idea based on?
  5. Is it technically feasible to manufacture the product?
  6. Will the product be profitable when manufactured and delivered to the customer at the target price?
A company should motivate its employees to submit new ideas to an idea manager whose name and phone number are widely circulated. Ideas should be written down and reviewed each week by an idea committee. The company then sorts the proposed ideas into three groups: promising ideas, marginal ideas, and rejects. Each promising idea is researched by a committee member, who reports back to the committee. The surviving ideas then move into a full scale idea screening process. In screening ideas, the company must avoid two types of errors:
  1. DROP

    - A DROP is an error when a company dismisses otherwise a good idea. It is extremely easy to find fault with other people's ideas. Some companies shudder when they look back at ideas they dismissed or breathe sighs of relief when they realize how close they came to dropping what eventually became a huge success. This was the case with the television show Friends.
  2. GO

    - A GO error occurs when the company permits a poor idea to move into development and commercialization. An absolute product failure loses money; its sales do not cover variable costs. A partial product failure loses money, but its sales cover all its variable costs and some of its fixed costs. A relative product failure yields a profit that is less than the company's target rate of return.

The purpose of idea screening is to drop poor ideas as early as possible. The rationale is that product development costs rise substantially with each successive development stage. Most companies require new product ideas to be described on a standard form that can be reviewed by a new product committee. The description states the product idea, the target market, and the competition, and roughly estimates market size, product price, development time and costs, manufacturing costs, and rate of return. Radical innovations carry a high level of risk and typically hurt the company's bottom line, at least in the short run. The good news is that success can create a greater sustainable competitive advantage than that which might come from more ordinary products.

Business strategies definition


Business strategy development

  1. Idea generation
    1. Opportunity analysis
      The strategy of assessing the potential for a change or enhancement to enhance the generation of revenue.
  2. Idea screening
  3. Business analysis
    1. Break even analysis
    2. Benefits of break even analysis
    3. Fourt Woodlock equation
      The tool used to determine whether the product idea will be profitable or not.
  4. Critical path analysis
  5. How to make critical path analysis?
  6. Critical path in business
  7. Logistics strategic plan
    Logistics is how to get raw materials, move them in the system, distribute and replace them.
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  10. Importance of marketing plan

VK images

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Our focus has shifted from Social Media to VISUAL Social Media. This is a shift from Tell to Show. We are drawn to "visual content" online in more ways than ever before. The opportunity this provides for business is massive.

In short, it means that businesses or brands online need to take note of the stats. In 2012 alone we have seen You Tube pass 4 Billion Daily Video Views and Pinterest become the 4th largest driver of traffic worldwide. UPDATE: In fact, Pinterest, has just recently become the 2nd largest driver of traffic worldwide.

  1. VK photos
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For business, this means a massive opportunity for businesses who can leverage the power of visual marketing. If we can learn how to use images, photos, video, and other visual media in our online marketing, then we have a greater chance of reaching more people with our message. This then provides the opportunity for more exposure as visuals drive traffic to our websites products and services.

People are drawn to visual content and take action based on its subtle cues faster than any other medium–faster than text, audio or video.

The power of pictures isn't restricted to image-centric platforms like Pinterest and Instagram. Visuals are attracting attention and driving engagement across all social networks. Vkontakte - being the Russian Facebook - is no exception.

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Image SEO


Youtube promotion

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  3. VK photos
  4. How to increase Likes on Facebook Photo?
  5. Make money with Instagram Likes
  6. Get paid to Pin on Pinterest
  7. How to get more Repins on Pinterest?
  8. How to get Retweets?
    One way to get search engine exposure is - post your photos to Twitter - with some good message of course. Then use Get Free Followers to boost Retweets on those.
  1. Favorite videos Youtube
    Do you want to be a certified public figure? Increasing your YouTube favorites can attract the attention of the video site; thus, your video can have the chance to be ranked up for a positive engagement. It plays a major role in SEO of that video.
  2. Get Likes on Youtube
  3. How to get more Views on Youtube?
  4. FREE Youtube Subscribers
    If you happened to be one of those who have a YouTube channel, or a brand or a creator using video as a marketing tool then, I'm sure you must be wondering how you can get more YouTube subscribers to your channel and increase the reach of your YouTube videos.
  5. How to promote Youtube Videos?
    Improve your Videos' search engine rankings. What YouTube wants to see is engagement and you can get that in the form of YouTube comments. Encourage others to comment on your video. Encourage discussions to start.
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