MMSI - Inventors Institute

Please tick the box that most closely match your answer to each of the questions, and then submit the questionnaire to us for evaluation. We will contact you with the results as soon as possible.

1. NEED: People perceive their need for this product/service as being:

Very Low. Most people are unaware a problem exists.
Low. Some people feel a problem exists.
Do not know.
Moderate. Most people feel a problem exists.
High. Most people feel a problem exists and think this service would solve the problem.

2. SALES: Estimated annual sales are likely to be:

Less than 100,000
100,000-250,000
Do not know
250,00-500,000
Greater than 1 million

3. FUNCTIONAL FEASIBILITY: Will the product do what it is intended to do?

No the concept cannot be made to work.
Yes. But major effort might be needed.
Do not know.
Yes, but minor changes might be needed
Yes, it will work.

4. PROFITABILITY: How likely is the anticipated revenue from the product able to cover anticipated costs like staff, advertising, and selling?

Might not cover any of the relevant costs
Might cover some of the costs.
Do not know.
Might cover all costs and provide some profit.
Will cover all costs and provide substantial profit.

5. COMPETITION: Existing competition for the product appears to be:

Substantial - several directly competitive services.
Moderate - several somewhat competitive services.
Do not know.
Low- one or two somewhat competitive services.
No competitive services known.

6. PRODUCT DIFFERENTIATION: Compared to substitutes and/or competitive services / products, the product offered might be perceived as:

Inferior to other services.
Similar to other services.
Do not know.
Superior to other services.
Far superior to other services.

7. DELIVERY FEASIBILITY: With regard to equipment, people and financial resources, this idea might:

Impossible to offer.
Be difficult to offer.
Do not know.
Have minor problems in delivery.
Have no problems in delivery.

8. MARKET PENETRATION: The time to reach targeted yearly sales volume would be:

More than 5 years.
3-5 years.
Do not know.
2-3 years.
1 year.

B. FINANCIAL & LEGAL ASPECTS:


9. PAYBACK: The time required to cover initial investment is likely to be:

More than 5 years.
3-5 years.
Do not know.
2-3 years.
1 year.

10. PROTECTION: The prospect for patent, copyright, trade marks or other legal protection appears to be:

None no legal protection possible.
Limited legal protection possible.
Do not know.
Protection possible.
Can definitely be protected.

C. SERVICE ASPECTS


11. VISIBILITY: The advantages and benefits of the service might appear to customers to be:

Very obscure. Cannot determine the advantages.
Obscure. Requires explanation.
Do not know.
Noticeable. Advantages are apparent to some customers.
Very visible. Advantages and benefits are obvious to everyone.

12 LONGEVITY: Compared to competitive or substitute service/products, the longevity of the product is likely to be perceived as:

Lower.
Similar.
Do not know.
Higher.
Far higher.

13. SOCIETAL: The benefits to society from the product might:

Have a large negative effect.
Have some or moderate negative effect.
Do not know.
Have a positive effect.
Have a strong positive effect on Society.



14. REGULATIONS: In terms of present laws and regulations, this product:

Might not comply.
Might require major changes to comply.
Do not know.
Might require minor changes to comply.
Complies without any changes.



15. ENVIRONMENTAL: In terms of environmental regulations this product might:

Violate environmental regulations or have dangerous environmental consequences.
Have some negative effects on the environment.
Do not know.
Have no effect.
Have positive effect on the environment.



16. SAFETY: Consider potential safety hazards:

Very Unsafe.
Relatively unsafe.
Do not know.
Safe when used as intended.
Very safe.



17. TRAINING: The amount of education and training required for the product to function:

Extensive.
Considerable.
Do not know.
Little.
None.



18. SERVICE/PRODUCT DEPENDENCE: The degree to which the sale or use of this product depends on other services or procedures:

High. Service is only usable in conjunction with other services/products.
Moderate. Service is contingent with sales of other services/ products.
Do not know.
Low. Service is slightly dependent on other services/products.
None. Service requires no other product or service to be useful.



19. COMPATIBILITY: The service may be used in conjunction with existing product offerings:

No.
Sometimes.
Do not know.
Yes in most cases.
Yes in all cases.



20. SERVICE/PRODUCT LIFE: The total sales life of this product is likely to be:

1-3 years.
3-5 years.
Do not know.
5-10 years.
More than ten years.



21. PRODUCT EXPANSION: The potential for this product to develop into additional service offerings:

Very limited. Single service only.
Limited. Additional services possible but unlikely.
Do not know.
Moderate. Additional services likely.
High. New service spin-offs likely with applications to several different markets.

D. SERVICE/PRODUCT DESIGN



22. Development Stage: The product is in the following stage of development:

Idea phase.
Rough service offering format designed.
Do not know.
Final service offering ready for testing.
Market ready service.



23. Investment: The amount of money necessary to bring this product to a market ready stage might be:

Excessive. May not be recovered.
Heavy. Probably recoverable.
Do not know.
Moderate. Recoverable within 3 years
Low. Recoverable within 1 year.



24. RESEARCH & DEVELOPMENT: The research and development necessary to reach the production stage might be:

Extremely involved and complex.
Moderately complex.
Do not know.
Relatively easy.
Very simple.



25. RAW MATERIALS: The availability of raw materials necessary to produce this invention appears to be:

Very Low. Extremely difficult to find and costly to keep.
Low. Limited availability.
Do not know.
Moderate. Readily available.
High. Both available and inexpensive.



26. QUALITY CONTROL: The quality control required to maintain service/quality levels is likely to be:

Very strict.
Semi-strict.
Do not know.
Moderate. Allowance for error.
High. High margin for errors.



27. MAINTENANCE: The cost of maintaining the product might be:

Very high.
High.
Do not know.
Moderate.
Low.

E. MARKETING ASPECTS



28. MARKET POTENTIAL: The total market for products similar to this might be:

Very small. Very specialised or restricted market.
Small regional market.
Do not know.
Medium. Limited national market.
Large. Broad national or international potential.



29. ACTIVE TRIGGERS: Considering the current market and prospective buyers:

Triggers will be extremely difficult to activate.
Triggers can be activated with some difficulty.
Do not know.
Triggers could be activated relatively easily.
Active Triggers, prospects are actively looking for solutions.



30. MARKET ACCEPTANCE: With today's attitudes this product’s chances of being accepted by consumers/business is likely to be:

Very low.
Low. Some resistance.
Do not know.
Moderate. No conflict.
High. Readily accepted.



31. PRICE: This product would be priced:

Higher than competition with less or equal quality
Higher than competition with higher quality.
Do not know.
Similar in price but higher quality.
Lower price and higher quality.



32. CUSTOMER COMMITMENT: Have you been able to sell or obtain commitments from customers to use the product?

Have had no customer enquires.
Have had some customer enquires.
Do not know.
Have sold service now and again.
Have sold service to date very well.



33. POTENTIAL COMPETITION: The expected reaction from current competitors or competition from new entrants to this new product is likely to be:

Very high. Short lead time.
High. Relatively short lead time.
Do not know.
Moderate. Lead time is relatively long.
Low. Strong chance to gain large market share.



34. DISTRIBUTION: The anticipated cost and difficulty of establishing sales and distribution channels are likely to be:

Very high. Requires specialised and dedicated sales force.
Medium. Current distribution can handle service with other lines.
Do not know.
Low.
Very low. Service sells itself.



35. DEMAND STABILITY: The cyclical demand is likely to be:

Highly Unstable. Severe, unpredictable fluctuations.
Unstable. Moderate fluctuations.
Do not know.
Stable. Modest variations that can be accurately predicted.
Highly stable. Steady demand.



36. DEMAND TREND: The market demand for products similar to the proposed product appears to be:

Declining.
Steady. Demand expected to remain constant.
Do not know.
Growing slowly. Modest growth.
Rapidly expanding. Significant growth potential.



37. PROMOTION: The advertising or promotion for this product is likely to be:

Extensive. Advertising and promotion needed.
Appreciable. Advertising and promotion required.
Do not know.
Little. Advertising and promotion required
No promotion needed.

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