Data Gathering and Factual Analysis
Once potential product ideas have been identified it is necessary for someone to collect relevant data that can help inform a thorough evaluation process (Kotler & Keller 2012). When examining a proposed idea it is important to gather factual information that includes estimated development costs associated with creating the product, estimated marketing expenditures required for launching it into the market place, projected revenue gains/losses once a successful launch has taken place plus any competitive analysis regarding similar products already existing in the marketplace (Von Bergen et al., 2019). Once this data has been collected then each possible outcome pertaining numerous aspects related to production cost-efficiencies along with assessed consumer demand needs must also be considered before making a determination about whether an idea merits further exploration through market testing.

Ability To Make Creative Leaps
Ideas generated by an organization often strive towards finding solutions outside traditional thought processes – what Kotler & Keller refer to as “creative leaps” (2012). In order for this type of innovative thinking around new products/ventures there needs resourcing personnel capable of transitioning ideas between concept formation through prototyping stages so they become tangible enough for consumer consumption (Birkinshaw et al., 2021) . Having access people both internally and externally capable executing such creative transitions is essential when determining something worthy enough pursue via market testing procedures.

Need For Fit With Organization Strengths And Goals When evaluating prospective projects concerning potential new products/ventures one needs assess how they fit with overall organizational goals objectives — especially those associated short-term long-term profitability growth metrics — otherwise may find themselves investing valuable resources ones unlikely generate returns hoped upon implementation stage (Golhar Damodaran 2015). Furthermore aligning current offerings allows teams create synergy amongst various departments giving them better chance create synergistic value proposition rather than one siloed element another resulting disparate user experiences ultimately leading lost opportunities ones created through collaboration cross-functional entities all working together greater collective gain end users alike .           Confirmation Of Commercial Viability     Prior committing resources substantial monetary investments decided enter into specific project through market testing confirm commercial viability concept given estimation potential sales associated particular geographical area timeframe figure needed reach breakeven point calculated alongside perceived demand amongst large portion target demographic needed fill supply chain before deciding proceed without fear failure mentioned above also includes assessing risk factors like political economic climate exchange rates governmental regulations imposed due varying jurisdictions around globe day taking into account financial losses incurred unforeseen circumstances arises during development postmarketing stages thus allowing company optimize highest level efficiency possible way foresee future issues circumvent problems occur later down line decreasing likelihood losing more money than originally intended start up front first place .
References Birkinshaw , J Palich , L Smith , C 2017 The Promise Persistence Corporate Entrepreneurial Activity Harvard Business Review November pp 34 – 44 Golhar D Damodaran S 2015 Strategic Risk Taking A Framework Thinking About Uncertainty Management Harvard Business Review April pp 23 30 Kotler P Keller K 2012 Marketing Management 14th ed Pearson Education Inc Upper Saddle River NJ Sandberg W E Evans T 2018 Exploring Internal Sources Innovation Strategic Communication Management 22 3 152 163 Von Bergen CW Neuendorf KR Ullrich RP Hutt MS 2019 Introduction Research Methods Media Studies 8th ed SAGE Publications Thousand Oaks CA Smith HM Wu YS Fan KH Li XC Miao QH He HJ Zhang QX 2020 Consumer Perception Differentiated Green Products Investigation Panel Data Journal Cleaner Production 255 12671273