Business Objective Plan

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This simple template outlines essential information and data to support the approval of a new product development. While it may not address elements unique to certain markets/technologies, it can form the basis of any new product development review.

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Business Objective Plan

  1. 1. Kay Associates (www.kayassociates.org) Company Name BUSINESS OBJECTIVE PLAN PRODUCT NAME: X PRODUCT NUMBER: X REVSION: X DATE: X PREPARED BY: X APPROVALS: PRODUCT PLANNING PRODUCT DEVELOPMENT OPERATIONS FINANCE EXECUTIVE REVIEW DATE: DATE: DATE: DATE: DATE: 1 | P a g e
  2. 2. Kay Associates (www.kayassociates.org) TYPE NAME OF PRODUCT Type a one or two paragraph outline of the product, its fit within the product roadmap and the target market segment. BOP Page 2 of 7
  3. 3. Kay Associates (www.kayassociates.org) TABLE OF CONTENTS MARKET OVERVIEW...............................................................................................................................................4 MARKET BACKGROUND......................................................................................................................................4 TRENDS & COMMENTS........................................................................................................................................4 PROJECTED MARKET GROWTH............................................................................................................................4 GENERAL OPPORTUNITY.....................................................................................................................................4 CUSTOMER BASE ............................................................................................................................................... 4 COMPETITION..................................................................................................................................................... 4 RISKS OF MARKET ENTRY..................................................................................................................................4 PRODUCT DEVELOPMENT STRATEGY.............................................................................................................5 PRODUCT OVERVIEW..........................................................................................................................................5 FUNCTIONAL OVERVIEW.....................................................................................................................................5 PRODUCT UNIQUENESS........................................................................................................................................5 COST OF FUNCTION TODAY................................................................................................................................5 PRICING CONSTRAINTS.......................................................................................................................................5 BENEFITS TO CUSTOMER.....................................................................................................................................5 MARKETING/SALES - INTRODUCTION PLAN..................................................................................................6 OBJECTIVE: ....................................................................................................................................................... 6 STRATEGY:......................................................................................................................................................... 6 OVERALL PLAN:.................................................................................................................................................. 6 Betasites ................................................................................................................................................................6 Tools.......................................................................................................................................................................6 Collatoral...............................................................................................................................................................6 Software requirements...........................................................................................................................................6 Resources...............................................................................................................................................................6 MARKET PENETRATION PLAN..............................................................................................................................6 STRATEGIC ALLIANCES.......................................................................................................................................6 NEW PRODUCT BUSINESS ANALYSIS................................................................................................................7 BOP Page 3 of 7
  4. 4. Kay Associates (www.kayassociates.org) MARKET OVERVIEW Market Background Trends & Comments Projected Market Growth General Opportunity Customer Base Competition Risks Of Market Entry BOP Page 4 of 7
  5. 5. Kay Associates (www.kayassociates.org) PRODUCT DEVELOPMENT STRATEGY Product Overview Functional Overview Product Uniqueness Cost Of Function Today Pricing Constraints Benefits to Customer BOP Page 5 of 7
  6. 6. Kay Associates (www.kayassociates.org) MARKETING/SALES - INTRODUCTION PLAN Objective: Strategy: Overall Plan: Betasites Tools Collatoral Software requirements Resources Market Penetration Plan Strategic Alliances BOP Page 6 of 7
  7. 7. Kay Associates (www.kayassociates.org) NEW PRODUCT BUSINESS ANALYSIS Include a spreadsheets analysis (another template) that addresses project development resources/cost, milestones, revenue projections, cost analysis/COS, and ROI. BOP Page 7 of 7

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