Does the product solve a problem? Does it make life easier? Does it meet a significant need faced by a large number of consumers? Product should solve rather than prevent. In general, it is harder to sell a product that prevents a problem, than it is to sell something that provides a clear solution that can be easily demonstrated.
“Me too” Products don’t do well. Is the product original? Are there other similar items on the market? Is it a copycat? A knockoff product? Or is this a truly unique product?
Does this product offer potential as a “first mover” product? First of its kind in the marketplace? Is it a new item that no one has seen before? Does it present an opportunity to establish a new market or to dominate or “own” a market niche?
Is the sample or prototype of high quality? Conceptual?
Will the product appeal to the mass market? A sizable market? Or a small niche market? The broader the appeal the better. For example, a tool that repairs sewing machines, may be revolutionary, but it will likely have comparatively few potential buyers.
Is the heart of the invention patented? Or is the protection peripheral, protecting a less important or less significant aspect of the product? Does it offer a technological advantage that cannot be easily copied by competitors?
Does it use new technology that is superior to other products on the market?
Can the product be easily duplicated or “knocked off” by competitors?
Refers to cost versus perceived value. It may be a better mousetrap, but if the mousetrap costs $500, no one is likely to buy it.
Is it too inexpensive? Infomercials and televised programming aimed at selling products cannot sell products with retail prices lower than $15.
KISS – Keep It Simple Stupid. Is it simple to use and easy to explain? The best items can be explained in a couple of sentences. If it is too complicated it will be difficult to sell.
Will it demonstrate well on television? Is it easy to demonstrate?
Does it expose the licensee or seller of the product to a high level of liability risk? Are there potential safety problems? Child safety issues? Hazardous or toxic materials?
Will it be easy to manufacture? Will it require a huge investment to manufacture? Or will it be relatively cheap to manufacture?
Will it appeal to the demographics of the target audience?