Evaluation Criteria in Product Idea Selection Decisions

Within innovation management, choosing the best fitting product idea is the most important decision point. The future existence and success of the organization is depending on selected product ideas. To find the best fitting idea for an organization, it needs evaluation criteria representing the organizations mission Therefore, this study focuses on a holistic overview about evaluation criteria and on supporting organizations in the process to select its individual evaluation criteria. Based on a literature study, existing approaches regarding evaluation criteria in product idea selection are identified and a list of evaluation criteria is reworked. Using the list of evaluation criteria, a prioritization method is created. Within an interview with experts in innovation management, the method is discussed regarding usability and the level of assistance in product idea selection. The developed criteria can be used directly by innovation manager and industrial practitioners to evaluate potential product ideas.