Assess the feasibility of new product innovation

Innovative design for seniors is a major challenge for the 21st century. Designing for seniors brings with it the greatest difficulties of innovation: the market is complex and emerging, the number of players involved in moving from a potential idea for a new product and/or service to market success is very large, and the obstacles and errors to be avoided are numerous, each of which can be fatal and condition the wrong decision. More than ever, a well-equipped methodology is essential to transform an intuition into a wealth-creating business opportunity.

Whether you're an innovation manager, project leader or entrepreneur, you're often faced with a wide range of questions (financial, managerial, technical, medical, commercial, legal, marketing). This fact sheet presents a navigation map to guide you through a list of best practices that you can use, particularly in the early stages of designing a new product and/or service for seniors, and enable you to :

• state your ambition and describe your idea;

• assemble the elements of proof of value (your idea is useful and profitable), concept (it actually works and is industrially feasible) and innovation (it differentiates you from marketed products);

• assess the skills and knowledge you'll need to design your project team and action plan, and better gauge market opportunities;

• evaluate and assess the risks of a personal investment (time and financial) in the development of a new product and/or service;

• identify industrial strategies in terms of business model, market penetration and marketing.