How To Be Innovative- Day 16- The Four P’s

A quick way in which we can estimate the financial viability of our idea’s, is we can multiply population, market penetration, price and purchase frequency. This is a great way to gain insight in to our idea’s potential.
In addition to this, we can ask a marketer to guide us through the so called P’s. These are as follows:- population, penetration, price and purchase frequency.How is this calculated? Simply fit enough that would fit on to the back of a napkin does this cross the agreed upon threshold? What evidence is need from the team that has suggested that the calculation is plausible.The four “P”s so to speak of innovation, will help you to understand as well as answer these important questions and provide a great quick way to do a quick check of the idea’s financial viability and potential.How do we do this? Estimate the four “P”s for a product which you regularly use today and make comparisons. this data will become valuable to you later. Furthermore, calculate the four “P”s for your own company’s flagship product.