How do firms decide if a new product idea is worth pursuing? Well there are a number of ways to decide, but a simple straightforward way to determine if your company should make a new product is to ask your self three questions. Is it real? That is can the firm actually make the product. Will we win? So, can we make money off of this. And is it worth it? With all we have to do is it actually worth it to make this new product. It is called the RWW Screening model for new ideas.
Filmed in Turks & Caicos
Copyright Mark Wolters 2019


Dear Marketing Student, Entrepreneur, or Interested Person, I am Dr. Mark Wolters an Associate Teaching Professor in Business Administration and I have been teaching marketing and business courses around the world since 2002. I hope that these marketing & business videos can help you learn more about business and help you succeed in class or in the business world. And yes, this is the same Mark Wolters from the YouTube travel channel Wolters World.

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