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New Products and Innovation

There’s a saying in tech development that goes “six months in the lab saves you six days in the library.” Where spending “library” time is seen as not working (on it), so the sprint to build or to test happens, fails, then happens again.

 

I’ve seen this happen again and again in R&D as well. Years in the lab creating a new product or technology that ultimately fails or disappoints in the market.

 

Developing new products is critical to the brand and business success. Unfortunately, new product development is an uncertain process applied to an uncertain environment. From generating ideas to actually developing a product and then finally launching the product into the market, there are many hurdles throughout the process of incremental innovations. Even further, the development of radical innovations, which may include new technologies as well as new markets, can generate even more challenges. 

 

One critical factor in the development new products relates to the role of the Consumer in design.

 

How should Consumers be used in the new product development of radical innovations? Sh ...




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