Innovation Flashcards
Describe the linear New Product Development Model
- Idea generation
- Screening
- Concept testing
- Business analysis
- Product development
- Market testing
- Commercialization
–> New products
Describe the linear New Product Development Model
- Idea generation
- Screening
- Concept testing
- Business analysis
- Product development
- Market testing
- Commercialization
–> New products
Which are the five technology adoption groups?
Innovators Early Adopters Early Majority Late Majority Laggards
Name the five most relevant “adopter factors”
Need for the product Perceived risk Observability Trialability Type of buying decision
Name three characteristics of social networks that are relevant to marketers
Human action is determined by whom we are connected to
Social networks provide information and referrals, thus opportunities to act upon
Individuals are more receptive to information spread in social networks than information provided by outside sources
Name three diffusion factors from the drug prescription study
Network embeddedness is more important than personal characteristics in the adoption of an innovation
Advice/discussion network most important in the beginning
Friendship networks more important later on
What does SCOT stand for?
Social Construction of Technology
Name the three core ideas of Bijker’s perspective on the Social Construction of Technology
Technology is socially constructed
The process of social construction continues forever
Many different social groups are typically involved in this process
What is the lecture’s take-home-message on Social Construction of Technology?
Technological frames (conceptual frames used to understand what the artefact is) take shape in conjunction with technical objects and influence their form
Which two factors determine the mode of exchange?
- The characteristics of the exchange objects (physical properties, etc.)
- The characteristics of the exchange parties (buyers and sellers)
How do “experts suggest you find the blue ocean”?
- Find the blue ocean by locating the functional benefit that consumers value the most, and that competitors are least successful at offering.
- Convince and remind the consumers of the connection between this functional benefit and your brand so often that eventually they will equate the two.
–> your brand will OWN this benefit
Why are typical “blue ocean” methods likely to fail?
When everyone follows after you it becomes too difficult to find meaningful combinations or gaps.
Why is it better to focus on cultural innovation, rather than institutional innovation?
Because it targets what consumers actually value.
What is the core of cultural innovation?
The novelty lies in the alternative values that the product relates to, allowing consumers to make statements through consumption.
Which are the five technology adoption groups?
Innovators Early Adopters Early Majority Late Majority Laggards
