1. SEVERAL SPECIFICATIONS OPPORTUNITY PRODUCT DESIGN EMOTIONAL MANUFACTURING PRODUCT CONSULTANCY SERVICE √ √ √ √ √√ √√

2. OPPORTUNITY SPECIFICATION A concise written document describing the market need for a proposed product or service and the business opportunity presented by that product or service. It is used, firstly, by management as a basis for deciding whether or not to make an initial commitment to the new product or service and, subsequently, as a summary document to keep the implementation team focused on the opportunity they are setting out to exploit. Baxter, modified Dowlen

3. OPPORTUNITY SPECIFICATION Contents: Description of opportunityJustification of opportunity Price Core Benefit Proposition Secondary features Other selling advantages Financial aspectsNon-financial aspects

4. DESCRIPTION OF OPPORTUNITY Sets the scene for the rest of the document This is a simple description in about 20-30 words of exactly what it is you want to do

5. DESCRIPTION OF OPPORTUNITY HOW TO DO IT? Look to the Double Diamond approach – except that it’s really a single diamond: It’s the answer to the first diamond: Process: 1What general area do I want to work in? 2How many different ways can I describe it? 3How do I evaluate these different ways? 4How do I write it properly?

6. DESCRIPTION OF OPPORTUNITY 1What general area do I want to work in? Write a quick statement on this on a reasonably large sheet of plain paper in a small oval in the middle Design consultancy

7. DESCRIPTION OF OPPORTUNITY 2How many different ways can I describe it? fill in the answer to this as a spider diagram or mind map Design consultancy

8. http://blog.iqmatrix.com/wp-content/gallery/how-to-mind-map/imindmap-example.jpg

9. MIND MAPS Note: There’s a document on the Blackboard site that describes the process of creating a mind map

10. DESCRIPTION OF OPPORTUNITY 3How do I evaluate these different ways? start to make judgements about which might be the most profitable option. Which of the various bits of the spider would they put their money on? Why? Write the answers on a separate sheet of paper… This sheet will begin to be the justification for the opportunity.

11. DESCRIPTION OF OPPORTUNITY 4How do I write it properly? Have a stab at writing a single sentence for the originator on a separate sheet of paper. This is the first draft. Rewrite the sentence underneath the first attempt to make it clearer. Now you have the job of tidying up the mess…

12. JUSTIFICATION OF OPPORTUNITY Start with the assessment sheet Develop a SWOT analysis of these Reminder – SWOT is: Strengths Weaknesses Opportunities Threats

13. Reminder! OPPORTUNITY SPECIFICATION Contents: Description of opportunityJustification of opportunity Price Core Benefit Proposition Secondary features Other selling advantages Financial aspectsNon- financial aspects

14. price What are you going to charge for the product or service you are offering? You really need to do the market analysis before doing this… Invent a suitable price for the service Don’t make it too complicated to understand Don’t undersell your abilities Don’t forget you have to make a profit from it… From ALL of it (otherwise you won’t eat) Note that this is the sales price and is derived from the market and not from cost plus calculations

15. CORE BENEFIT PROPOSITION A simple and concise statement describing a significant and important market need not currently satisfied by existing offerings and that can be satisfied by available technology. A simple and concise proposition of the main benefit enjoyed by the customer from buying the new offering instead of the competition.

16. IMAGINE YOURSELF AS THE CUSTOMER Now – what do I want? What is the service or product that I really need? What extras add value for me?

17. FINANCIAL JUSTIFICATION Variable costs for the product or service? Fixed costs for the product or service? Sales volume? Target price and margin for the offering? Projected life-cycle of product sales / turnover? Profit opportunity? Projected break-even point?

18. FINANCIAL CONSIDERATIONS Development timescale Facelift timescale Investment required Human resources required Machinery requirements Additional systems requirements Skill development & staff training

19. NON-FINANCIAL ASPECTS Company’s ability to manufacture, distribute, market and sell the new product. Relationship to existing product range. Relationship to company’s overall strategy

20. EMOTIONAL SPECIFICATION A document that describes, as clearly as possible, the feelings that each of the imagined stakeholders should be having towards the product or service. This need not be in a written format but the results should be collated and analysed.

21. Possible stakeholders: Users:Naïve / experienced Customers:Buyers / professional / amateur consumers Press: testers, consumer magazines Wholesalers, retailers, Directors, assembly staff, design staff Competitors Hirers

22. EMOTIONAL SPECIFICATION Methodology: Protocol analysis Exemplars Inventive behaviour using stereotypes Scenario building Visual QFD Statistics & analysis