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in product selection and design? How would you source your product? Would you make (manufacture it yourself) or buy it? Why would you make or buy it?...
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Question

What steps are involved in product selection and design?

  • How would you source your product?
  • Would you make (manufacture it yourself) or buy it? Why would you make or buy it?
  • What role would protection of IP and business confidential information play in your decisions?
  • How would you design the necessary "back-office" and "customer-facing" functions?
  • What would those functions be? How would they be addressed in your initial business plan?
  • What would be your marketing and sales plan?
  • What steps would you follow to price your product?
  • How would your supply chain and distribution plan support your operations and sales activities?

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