New products to new markets Fuel Cell commercialisation
The introduction of new products to new markets is known to be a very challenging mode of innovation, particularly when a new and unproven technology is involved. Fuel cells are now becoming commercial, many years after their practical use was first demonstrated in the early space missions. Their story provides a good example of the technology development and market readiness issues that such products invariably face. The Gartner Hype Cycle and the experience of Johnson Matthey and its fuel cell business are used to illustrate some of the important lessons to be learned.
The Ansoff Matrix (1) has been used for nearly 60 years to assess strategies for new product introduction. The matrix tells us that selling more of an existing product to the same mar ... ...