In planning for new market strategies for an existing product, scrutinizing the product can be a big help. The problem is that when surrounded by the products everyday and consistently talking about it with the customers, there is the tendency to develop a product centered vision that the product always looks the same.

The following are series of exercises that can help when evaluating an existing product and its usage:

• Inspect the product intently. What kind of product is it and what is its purpose? How is it used by the customer?
• Turn the product around. Check whether the back view should be the front view instead. Scrutinize the product in all angles. Can the product be used in an inverted manner?
• Recollect how the product has transformed. How many improvements have been made over the years? Are there any other products concealed in the present product?
• If one could start again, would the design of the product be the same again? Should there be no design restraint, redesign the product. Even if the new design is not feasible, it may generate some fresh ideas.
• Touch, feel and use the product. An emotional reaction to products is usually developed after years in the business. How is the level of confidence in selling the product?
• Is the business able to cope-up with the latest materials and new technologies in the market?

In a highly competitive environment it is advisable also to conduct survey among customers as to what kind of improvement or revision can be made to the product in order to make it more interesting to buy and patronize.

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