Value Assessment Of New Product Innovations

In the commercial industry, an investment in a new innovation can make or break a company. In order for the new innovation to succeed in a competitive marketplace, it must deliver value to its stakeholders. Companies are thus rewarded to assess the value an innovation will deliver to its customers early in the design process. This paper provides a framework to measure the potential value a new innovation will deliver to consumers based on scoping the project. The framework provides details on creating a model based on the Analytical Hierarchy Process (AHP) by establishing a hierarchy of customer objectives.