A sector-specific approach for new product idea generation

2002 ◽  
Author(s):  
Yong-tae Park ◽  
Gwang-man Park ◽  
Hyung-sik Oh
Keyword(s):  
Idea Generation ◽  
New Product ◽  
Specific Approach ◽  
Product Idea

USING CROWDSOURCING TO INCREASE NEW PRODUCT’S MARKET VALUE AND POSITIVE COMMENTS FOR BOTH THE CROWD INVOLVED AND CUSTOMERS

2018 ◽  
Vol 22 (02) ◽  
pp. 1850033
Author(s):  
NADINE ESCOFFIER ◽  
NADINE TOURNOIS ◽  
BILL MCKELVEY
Keyword(s):  
New Product Development ◽  
Idea Generation ◽  
Market Value ◽  
New Product ◽  
Online Reviews ◽  
Product Development Process ◽  
Crowd Wisdom ◽  
Before And After ◽  
Potential Customers ◽  
Product Idea

More and more consumers base their buying decision process on online reviews. Not surprisingly, researches show that online reviews have an actual impact on revenues. As a result, a new product can disappear even before it makes it to the market. How to make sure that the new product will get positive online reviews before it goes to market? By evaluating the market value of a new product before and after Crowdsourcing, we offer the proof-of-concept that crowd-wisdom pertaining to new-product idea generation improves its market value significantly, both in term of ratings and comments after just one integration of the crowd into the new product development process. The improvement took place before a large investment was done. More surprisingly, this market value after Crowdsourcing is the same for the Crowd involved in the Crowdsourcing process than for the potential customers of the new product created by using this process.

scholarly journals Identifying Dissimilarities among Global Teams while Pursuing New Product Idea Generation Practices

2016 ◽  
Vol 229 ◽  
pp. 376-386 ◽  
Author(s):  
Syeda Asiya Zenab Kazmi ◽  
Marja Naarananoja ◽  
Juha Kytola Wartsila
Keyword(s):  
Idea Generation ◽  
New Product ◽  
Global Teams ◽  
Product Idea

Closing the loop between design and market for new product idea screening decisions

2011 ◽  
Vol 38 (6) ◽  
pp. 7729-7737 ◽  
Author(s):  
S.L. Chan ◽  
W.H. Ip ◽  
C.K. Kwong
Keyword(s):  
New Product ◽  
Closing The Loop ◽  
Product Idea

scholarly journals Combining knowledge to generate novelty: a study of disclosed ideas for life science inventions

2017 ◽  
Vol 20 (3) ◽  
pp. 446-462 ◽  
Author(s):  
Taran Thune ◽  
Magnus Gulbrandsen
Keyword(s):  
Life Science ◽  
Idea Generation ◽  
New Product ◽  
Original Data ◽  
Generation Process ◽  
Data Set ◽  
Content Type ◽  
Cross Domain ◽  
Research Activities ◽  
New Ideas

Purpose The purpose of this paper is to investigate how a combination of diverse sources of knowledge is important for generation of new ideas and address how institutional infrastructures and practices support integration of knowledge across organizations in medicine and life sciences. Design/methodology/approach The paper investigates new product ideas that emerge from hospital and university employees, and looks at the extent of interaction between clinical and scientific environments in the idea generation process. The paper utilizes data about all new product ideas within life science that were reported in South-Eastern Norway in 2009-2011, as well as information about the individuals and teams that had been involved in disclosing these ideas. Interviews with inventors have also been carried out. Findings Interaction and integration across scientific and clinical domains are common and important for generating new product ideas. More than half of the disclosed life science ideas in the database come from groups representing multiple institutions with both scientific and clinical units or from individuals with multiple institutional affiliations. The interviews indicate that the infrastructure for cross-domain interaction is well-developed, particularly for research activities, which has a positive effect on invention. Originality/value The paper uses an original data set of invention disclosures and investigates the hospital-science interface, which is a novel setting for studies of inventive activities.

Performance Assessment of the Lead User Idea-Generation Process for New Product Development

2002 ◽  
Vol 48 (8) ◽  
pp. 1042-1059 ◽  
Author(s):  
Gary L. Lilien ◽  
Pamela D. Morrison ◽  
Kathleen Searls ◽  
Mary Sonnack ◽  
Eric von Hippel
Keyword(s):  
New Product Development ◽  
Idea Generation ◽  
New Product ◽  
Major Product ◽  
Product Line ◽  
Direct Result ◽  
Target Market ◽  
Generation Process ◽  
The Past ◽  
Lead User

Traditional idea generation techniques based on customer input usually collect information on new product needs from a random or typical set of customers. The “lead user process” takes a different approach. It collects information about both needs and solutions from users at the leading edges of the target market, as well as from users in other markets that face similar problems in a more extreme form. This paper reports on a natural experiment conducted within the 3M Company on the effect of the lead user (LU) idea-generation process relative to more traditional methods. 3M is known for its innovation capabilities— and we find that the LU process appears to improve upon those capabilities. Annual sales of LU product ideas generated by the average LU project at 3M are conservatively projected to be $146 million after five years—more than eight times higher than forecast sales for the average contemporaneously conducted “traditional” project. Each funded LU project is projected to create a new major product line for a 3M division. As a direct result, divisions funding LU project ideas are projecting their highest rate of major product line generation in the past 50 years.

Jack in the Tiffin-box: Unconventional Paths to New Product Idea Development

2015 ◽  
pp. 553-576
Author(s):  
Sangeeta Gupta ◽  
Subhransu Rout ◽  
Farheen Romani
Keyword(s):  
New Product ◽  
Product Idea
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