In innovation ( the truly disruptive type ) success are often 20yrs in the making but not for NPD breakthroughs. This mindset ( true disruption vs. breakthroughs ) is often an intense debate with NPD efforts often focusing on innovation efforts where decisions made in new product launch efforts often require choosing launch decision options consistent with already-made launch choices and not that of the inconsistency situations often presented in innovation activities.
This can be expertly seen via the seminal work In Search Of Generic Launch Strategies For New Products
where more than 600 firms were investigated in their efforts to deal
with more than 1000 product introductions where almost 60% of the
efforts succeeded and more than 41% failed and more than anything where
we see appropriate pricing tactics which led to appropriate launch time implementations where offensive improvement launches focusing on
improvements on current products were injected into markets with few
competitors so as to erect competitive barriers. In these cases
technology based ( in IP protection environments ) completely new
products early in their product life cycles were able to establish a
foothold and thus via broad product assortments, distribution channels
using new brand names, meant lower distribution expenditures, and
high-price skimming strategies to create average successes with product
performance and financial goals met 1st over market acceptance goals
Further, a market-driven and less-innovative addition to existing lines
for defensive purposes mentality, later in the product life cycle where
many competitors already are present, it was these launches that
received the lowest success ratings across nearly all of the performance
criteria and something not often seen or accepted in the ( disruptive )
innovation models that many of us are familiar with. It is therefore
that possibly, market-driven new-to-the-world projects are more
successful with, lower price and a penetration / predatory pricing
strategy rather than a high-priced, skimming system often employed by
long range 20yr to develop disruptive innovation models.
In the separation and clear understanding of ( disruptive ) innovation
and ( proactive ) new product development mindsets are some of the most
important factors in understanding how firms who are able to
consistently outperform those that mix these two efforts and toolsets
thus using the correct magnifying glass for the right time based
involvement is a key factor in successful efforts in these areas.
#iGNITIATE #Design #DesignThinking #DesignInnovation #IndustrialDesign #iGNITEconvergence #iGNITEprogram #DesignLeadership #LawrenceLivermoreNationalLabs #NSF #USNavy #EcoleDesPonts #Topiade #LouisVuitton #WorldRetailCongress #REUTPALA #WorldRetailCongress #OM #Fujitsu #Sharing #Swarovski #321-Contact #Bausch&Lomb #M.ONDE #SunStar
