New Product Proposal and Development - Essay Example

 The small innovations typically make up for more than 80% of the development of the company (Annacchino, 25). These events do not lead to the growth that the company hopes to get in the end. R-W-W directs the project to answer six important questions, which are, does the product have a real market? Does the company produce a genuine product? Can the commodity compete with other products? Will the organization compete with others? Is the product return profitable at a particular risk? Is it logic to launch the product?

   Does the product have a real market?Establishing if the market exists is an important factor to its growth.  The new technology has a real market because it has passed the qualities of the market (Day, 03). The charger has been able to shape the quality of the market because of its quality. Apple and Samsung are the main producers of smart phones in the world. The phones they produce do not come with a portable charger. It means the charger will have a ready market for the charger.

The need of portable kinetic charger is growth due to diversity of products.  Will the organization compete with others? Individuals will choose the charger over other because of one or more features it possesses. The charger would improve on the existing charging solutions in the industry. The market has been there for a long time and it indicates that the portable kinetic charger will, compete with other corporations. The high use of mobile phones and other devices has become a community norm.