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Customer-Centric Innovation |
Introduction
Successful marketing of a new product relies on many factors. For example, a purchaser's prior experience with customer service at the retail outlet can flavor the  consumer's impression of the product either favorably or not. With over 100,000 distinct items cluttering the shelves at a typical retail outlet store, customer service differentiates where the products themselves fail to offer consumers an advantage.
Failed Market Research is an oft-quoted reason for NPD failure. Merle Crawford presents data demonstrating that between one-third and one-half of all new products fail. In fact, conducting certain phases of Market Research, like the concept test, during the early stages within the NPD Process is a trademark of successful New Product commercialization.
- Identify Opportunities
- Interact Frequently
- Inspire and Delight
Customer-centric innovation focuses on the total customer experience, designs in emotional aspects of the product and yields a flexible customer interaction.
Download a pdf of this thought leadership paper for just $8.95 (tax included). Buy Now
GNPS Premier Members can access the full paper here. |
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Greetings!
Christmas is my absolutely favorite time of year! I love the lights and music. I love the preparations and wonderful baked goods! Baking takes a lot of planning, so check out our featured article (below) on strategic planning!
 As you celebrate the holidays and start planning for the new year, be sure to include innovation programs in your plans.
As 2011 begins to wind down and you begin thinking about 2012, why not consider New Product Development Professional certification? This program demonstrates mastery of best practices in innovation and often leads to career advancement.
Take advantage of our early discount registration now. Discount through December 30th for January on-line NPDP Certification courses. |
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Innovation Fun Fact | |
How are Thermometers Made?
As December roars in with a cold spell, I've been worried about freezing temperatures damaging my tropical plants in normally-warm Southeast Texas. Luckily, temperatures rose  after only a two-day freezing spell! We all know that the "mercury rises" when temperatures rise, but how does that really work? Click on the thermometer for a short video to see how industrial, non-toxic thermometers are made. (A short 3-minute video.) |
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Recommended Reading | | |
Fish! (Lundin, Paul, and Christensen)
This is a wonderful, short story that will energize any team! Based on the principles of:
- Choosing Your Attitude,
- Play (enjoy your work),
- Make Their (the customer) day, and
- Be Present (be attentive),
you will find that you, too, can transform an organization to one filled with energy and enthusiasm.
This is a really quick read - I read the whole book while doing the elliptical trainer at the gym one night. There are companion videos and other training materials available at www.charthouse.com.
Why not invest 30 minutes and read this book? See if it doesn't change your life and your NPD team's spirit? |
| Innovation Strategy | | |
3 Key Questions (and Answers!)
When I speak about strategy to New Product Development Professionals (NPDP), about a quarter of the audience yawns, while the remainder noticeably becomes more alert. This response is not surprising since studies show that successful innovators overwhelmingly recognize that a clear, concise, and communicable strategy is fundamental to delivering New Product Development (NPD) profits. In fact, nearly three-quarters of those firms that are the most successful with NPD (measured by sales and profits, for example) initiate product development efforts with specific strategic planning activities.
Yet strategy is complex and there is no magic formula to design and implement a successful innovation strategy. Many companies today face a dual challenge to incorporate new product development efforts for future growth while holding budgets at minimum expense levels just to survive poor economic conditions.
However, an overarching vector in any business is the strategic thrust. Approximately one-third of products that are commercialized fail to meet objectives. It is imperative that an innovation culture is supported by business and innovation strategies striving for top-line growth.
In this article, we will probe three key questions regarding the innovation strategy.
- Who is responsible for strategy?
- What tools are used to implement strategy?
- What do I do if there's no guidance?
Download the full white paper for just $8.95 (tax included). Download Now
GNPS Premier Members can access the full paper here. |
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