FEASIBILITY STUDY OF PRODUCT RAHUL KUMAR JHA MBA (2011-2013)
ON TARGET Summary Layout Feasibility study of product Discussion Item One – What Is Feasibility Study Discussion Item Two – Why Feasibility study Discussion Item Three – Feasibility Of Product By the help of model Discussion Item Four – Idea Generation Source Discussion Item Five – Value Analysis Discussion Item Six – Design For Environment
ON TARGET What is feasibility study Feasibility study is about understanding WHERE WE WILL BE BEFORE WE HAVE EVEN STARTED. A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems and attempts to answer one main question: Will the idea work and should you proceed with it?
ON TARGET Why feasibility study ? Feasibility study is used to determine: How much of a demand is there for What are the strengths and the product or service you are weaknesses of your competitors considering? from your potential customers perspective? How can you design your What are your potential customers product or service needs and price expectations? most effectively, given the needs of your target market and the competitive Who are your competitors? environment?
ON TARGET FEASIBILITY OF PRODUCT By the help of model:
ON TARGET Idea Feasibility generation study Product or Performanc service e concept specificatio ns Suppliers Customers Form R&D design Revising and Marketing Competitors testing prototypes Functional Producti design on design Design Manufacturi New product specificatio ng or or service ns delivery specificatio launch Picture Layout ns Pilot run Add your own picture above you can also use the above and final parts image in other Final design of this PowerPoint template. Picture from PresenterMedia.com & process tests plans
Idea generation sourcesON TARGET Following Sources For Idea generation Company’s own R&D department Perceptual Maps Customer complaints or suggestions Visual comparison of customer perceptions Marketing research Benchmarking Suppliers Comparing product/service Salespersons in the field against best-in-class Factory workers Reverse engineering New technological developments Dismantling competitor’s product to improve your own Competitors product
ON TARGET Design Review Failure mode and effects analysis (FMEA) a systematic method of analyzing product failures Fault tree analysis (FTA) a visual method for analyzing interrelationships among failures Value analysis (VA) helps eliminate unnecessary features and functions
ON TARGET Value analysis (VA) Can we do without it? Does it do more than is required? Does it cost more than it is worth? Can something else do a better job? Can it be made by a less costly method? with less costly tooling? with less costly material? Can it be made cheaper, better, or faster by someone else?
ON TARGET Design for Environment Design for environment designing a product from material that can be recycled design from recycled material design for ease of repair minimize packaging minimize material and energy used during manufacture, consumpt ion and disposal