AN OPPORTUNITY SEARCH METHOD FOR NEW PRODUCTS DEVELOPMENT
Launching of new product on the market is necessary for company growth and business development. Only 10% of launched new products are successful. How can we increase successfulness of new products? We have developed a special method for identifying opportunities for new products. A new product can mean improvements of existing products, radical innovations or services. The method is suitable for small as well as big companies. We defined social, economic, technological and legislative factors which help us to recognize opportunities while taking into account company characteristics. The method presents more systematic approach to opportunity identification process.