Methods of Generating New Products/Services

• Focus Group: A moderator leads a group of 8 to 14 participants through an open, in-depth discussion in a directive or nondirective manner. This is an excellent method for generating and screening ideas and concepts. It allows people to be stimulated to greater creativity.
• Brainstorming: Good ideas emerge when the brainstorming effort focuses on a specific product or market area.
• Problem Inventory Analysis: Consumers are provided with a list of problems and are asked to identify products that have those problems. Results must be carefully evaluated as they may not actually reflect a new business opportunity.