Economic Evaluation of New Product Creation and Launching: The Case of Unstable Rowing Simulator

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.

DOI: 10.5901/mjss.2014.v5n27p1741