You are introduced to another key stage of the new product development process—the business case. The business case differs from a business plan. A business case is intended to determine the feasibility of the new product, and this stage ends with a gate review and a decision point. In addition, this module introduces the reader to primary and secondary research and voice of the customer studies to learn what customers want and need in a product. Voice of the customer is important throughout all new product development stages—not just at ideation.
Learning Outcomes
1. Compare and contrast the purpose, components, and intended audience of a business case and a business plan.
2. Develop components of a business case.
3. Evaluate business case assumptions using primary and secondary research and the voice of the customers.
