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Engineers and scientists often need to sell an innovative idea for a new product or a new product improvement to top management. Sometimes their tendency is to focus on the "WOW " of the new technology at the expense of making a convincing business case. When the new technology represents a large cost reduction, there will be much less of a problem in convincing management to approve the project if the investment level is acceptable. The major rub comes when the new feature or technology is an improvement in customer value that also generates an increase in cost. This makes the sell...

Engineers and scientists often need to sell an innovative idea for a new product or a new product improvement to top management. Sometimes their tendency is to focus on the "WOW " of the new technology at the expense of making a convincing business case. When the new technology represents a large cost reduction, there will be much less of a problem in convincing management to approve the project if the investment level is acceptable. The major rub comes when the new feature or technology is an improvement in customer value that also generates an increase in cost. This makes the sell...