As a recent graduate and new staff member just hired by NYC Associates, you have been charged with the assessment of the Big Apple Marketing study. You have been asked to assess the study in light of documented best practices in new product development. In particular, you are to assess TSI’s:
1. New Product Development (NPD) strategy
2. Opportunity identification
3. Concept development and evaluation
4. Forecasted sales
5. Preliminary financial analysis
6. Overall new product development process, stage-gate by stage-gate
Based on your analyses (1-6 above), you should identify weaknesses, if any, in the study and make suggestions for remedies and improvements. Further, you are to assess the impact of your recommendation on management’s financial estimates. Before TSI decides to move to product development, they want NYC Associates' recommendations to continue, kill, or to re-perform initial research for this project. Your goal is to raise expected profits, and lower the risks inherent in the launch of TSI’s innovation.