New Product Development Proposal

What is a product development proposal?

A new product development proposal is usually created by those individuals who are ready to provide the services of new product development. The basic objective of this proposal is to convince the recipient into choosing you over anyone else for getting a new product developed.

Who writes the new product creation proposal?

All those individuals who are in the business of creating and producing new products in different fields often write this proposal so that their services can be bought. In most cases, the proposal is written on behalf of the entire design team.

When to write the new item production proposal?

For many people and businesses, a proposal works only when it is written at on right time. Writing an offer of services at right time means writing it when the recipient needs it. If you want to know when you can design and draft your next proposal, have a look at the following situations:

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  1. When the person or company is in the need of a new product and solicits proposals with a list of services manufacturers are ready to provide and their bid.
  2. When a business is going through a problem, and you realize that the solution to that problem can be the production of a new item
  3. When you see that there is a potential for a new product to come into the market and help a business outperform others, you let the people know about it by writing a proposal

What a new item production proposal should cover?

A proposal has to be convincing as well as engaging if you want it to be successful. This can be possible when you ensure that you have designed a well-written offer document. You should be aware of what a well-written document of offer covers. Below are some key elements:

A problem statement:

This is the most important part of the proposal because here you establish a need to have a new product. You might have discussed with the consultant, or you might have observed an organization keenly that made you conclude that several problems need to be addressed.  In this part, you mention all the concerns and issues that you have seen an organization suffering from.

Deliverables of the project:

When you are all set to design a new product, you should plan as to how and what you will be delivering during the entire project life cycle. The recipient is generally interested in knowing the deliverables. Therefore, you must outline them in the proposal in a realistic way.

Anticipated dates:

Always remember that your client expects you to have done the necessary homework that will show your interest and professionalism. When you demonstrate the projected timeline, you make an impression.

A project is usually completed in various stages. At each stage, a part of the project is delivered. Moreover, a part of the project is completed when it is delivered to the client. So, there are various chunks in which each part of the project is delivered. So, you should make a rough estimate of the work you will have to do and the time that you will take in completing the work. Try to come up with a series of anticipated dates and then outline them in the proposal.

Information regarding the project:

Sometimes, the potential client wants to read that how much work you have done on the project of new item production and what insight you have obtained. So, you should be able to provide information regarding that project and the item you are willing to produce. Make sure that you provide the information that the recipient needs.

Past project reference:

When you are writing a proposal, you might have worked on similar new product development projects before. If this is the case, refer to those projects and make the client know that you have experience of working with the same kind of project before and you have the potential to deliver the right product. Make sure that you remain truthful while giving references because he might ask you to give proof.

Samples

New Product Proposal by Marketing Department to CEO

Sample File: 22KB

New product proposal letter

New product proposal letter

Sample File: 22KB