Economic evaluation of new product creation and launching: The case of unstable rowing simulator

Research output: Contribution to journalArticle

Abstract

The article aims at the economic evaluation of launching a completely new product-an unstable rowing simulator. The analysis of the scientific literature has revealed that creation and launching of new products consists of 8 stages-from generation of ideas to launching. Since for the economic evaluation of the unstable rowing simulator there were no opportunities to apply the formalized methods, the method of expert evaluation was engaged. The results of the expert evaluation have revealed that the unstable rowing simulator is useful for personal health. It improves balance, coordination and suits fitness clubs. Simulator’s market price should fall into the interval from 2001 to 3000 Litas.

Original languageEnglish
Pages (from-to)1741-1745
Number of pages5
JournalMediterranean Journal of Social Sciences
Volume5
Issue number27
DOIs
Publication statusPublished - Dec 1 2014

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evaluation
economics
expert
market price
technical literature
clubs
fitness
Economic evaluation
Evaluation
New products
Simulator
Economics
health
Market price
Clubs
Personal health
Fitness
Health

Keywords

  • Expert evaluation
  • New product creation and launching
  • Unstable rowing simulator

ASJC Scopus subject areas

  • Social Sciences(all)
  • Arts and Humanities(all)
  • Economics, Econometrics and Finance(all)

Cite this

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abstract = "The article aims at the economic evaluation of launching a completely new product-an unstable rowing simulator. The analysis of the scientific literature has revealed that creation and launching of new products consists of 8 stages-from generation of ideas to launching. Since for the economic evaluation of the unstable rowing simulator there were no opportunities to apply the formalized methods, the method of expert evaluation was engaged. The results of the expert evaluation have revealed that the unstable rowing simulator is useful for personal health. It improves balance, coordination and suits fitness clubs. Simulator’s market price should fall into the interval from 2001 to 3000 Litas.",
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