Elevator test for NPD
This article outlines the "elevator test" method as used in new product development (digital too). It involves asking a few key strategic questions:
- For whom?(the target customer)
- Who needs it? (the statement of the need or opportunity)
- What's the product name and what's the product category?
- What is the key benefit and compelling reason to buy it?
- Why is it unlike the primary competitive alternative?
- How does our offering, product and/or service differentiate itself?
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