Guest Lecture Flashcards
1
Q
Failure rate of new introduced products
A
60-80 percent
2
Q
3 essential preconditions for New Product Success
A
Consumer-Centric Product-Concept —> DEFINING VALUE
Consistent Staging of Brand Benefits —> DEVELOPING VALUE
Professional Planning and Monitoring —> ELIVERING VALUE
=> CONSUMER ORIENTATION
3
Q
What are the Main Problems by Defining Value?
A
- No Consumer-Centric Product Concept
- No Winning Concepts
- No Innovation Pipeline
4
Q
What are the Main Solutions for Defining Value?
A
Four Capacities One Simple Process Model Executional Rigor (Ausführungsstrenge)
5
Q
Which are the Four Capacities?
A
Absorptive Capacity
Distilling Capacity
Transforming Capacity
Screening Capacity
6
Q
Consumer Insights tools
A
Ethnographic Tools
Consumer Homework
Specific Consumer Insights
Listening-In/ Co-Creation
