[ Pobierz całość w formacie PDF ]
." The danger with this thinking is, of course, that you run the risk of drowning before you have time to learn swimming fundamentals.The enduring legacy of innovation is transformation-innovations transform business sectors.A rough rule of thumb is that the greater the degree of transformation, the greater the value that customers will place on the innovation and the more they will spend to acquire it.So if an innovation is really important, then it probably holds a lot of potential to transform something.And for anticipating the future, it may just be that the thing that is getting transformed is more important to study than the actual thing that does the transforming.While this may sound like the obvious thing to focus on, in the early days of a new technology it is often hard for the start-up team to separate "what the product does" from "what is the impact that it may have." Again, we find this classical marketing theory-find out what business you are in rather than simply what your product is.It is not rocket science, but it seems foreign to so many innovators that you might say it just does not compute.Plus, it is really hard to do.So, rather than trying to predict the future of a new product in a new class, it is simpler to look at the product's potential impact on what will be transformed in order to understand the value of the transformation and the speed with which customers will rush to acquire it.This focus on the impact of the transformation may be both simpler to understand and more revealing in terms of understanding an innovation's potential well in advance of its entry into the market.It is not easy to anticipate where business is headed, especially in fast-changing markets.Over the past fifty years, research disciplines have emerged that help executives gain better insight into their customers' intentions.Research is an optimization game; a fractional spending in your marketing budget should provide enough leverage to generate significant profits.If you are a movie executive planning the release of a blockbuster, it makes all the sense in the world to spend money on focus groups to test the movie's trailers so that you can improve their effectiveness before spending millions on the launch.Dollar for dollar, that is money well spent.Since we are in the research business, we often get feedback from management teams telling us that they are not interested, unable, or even unwilling to do any market research.One of the most perplexing reasons that we are given is, simply put, "we don't have the budget for it." Being strong advocates for research (hey, we have to get our kids through expensive private schools and on to college, and this gig is all we've got!), it is hard for us to comprehend this objection.Their company is probably spending millions on their development efforts in trying to bring a new product to market as fast as possible.They are usually either a venture-funded company or an internal group within a larger company, and their multimillion-dollar development effort is not yet a money maker.So the idea that somehow spending a relatively small amount of money on research is going to hurt their bottom line is preposterous.Yet, they can convince themselves that early on in the development cycle is not the right time to develop a clear vision regarding what market demand will look like just when their hot new product is ready to sell.Worse yet, they will tell us to come back later, after they are successful, telling us that they will have plenty to spend on research then.This thinking is completely upside down.Market research needs to be done in parallel with product development.The earlier you do it the better.The idea of spending on research after you are successful can only mean that you have got such a big ego that you just love reading about yourself.You do not need it then.The products that most companies are working on have relatively short shelf lives.There are narrow windows during which companies must get the most out of their R&D investments and use their development budgets to build what is needed.Companies that wait until their products are almost finished run the risk of wasting months and months of time while they learn in real time.Spending on research earlier in the product development cycle will yield terrific paybacks, which can significantly improve a company's chances of making a market.We think that traditional tools for listening to customers-polls, surveys, and focus groups-do not work well for innovative-driven companies because these instruments are designed to interpret mainstream thinking.For innovative areas, conventional wisdom does not matter.The traditional tools are designed to find where the majority opinion lies.Innovative companies do not care so much about the majority opinion since they are out to change the status quo.The process that we use for determining the impact that highly innovative companies will have on their markets is something we call the "Expert Interview." The methodology that we have developed for organizing input from industry experts provides the vehicle for accurately predicting the future of fast-changing markets and for anticipating customer demand.It is important to consider the Expert Interview as a peer to traditional research processes and a method that is highly effective for collecting input in fast-changing markets situations.As relevant as focus groups are to the consumer products industry, Expert Interviews have the potential for unlocking the secrets of highly innovative market potential [ Pobierz całość w formacie PDF ]
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." The danger with this thinking is, of course, that you run the risk of drowning before you have time to learn swimming fundamentals.The enduring legacy of innovation is transformation-innovations transform business sectors.A rough rule of thumb is that the greater the degree of transformation, the greater the value that customers will place on the innovation and the more they will spend to acquire it.So if an innovation is really important, then it probably holds a lot of potential to transform something.And for anticipating the future, it may just be that the thing that is getting transformed is more important to study than the actual thing that does the transforming.While this may sound like the obvious thing to focus on, in the early days of a new technology it is often hard for the start-up team to separate "what the product does" from "what is the impact that it may have." Again, we find this classical marketing theory-find out what business you are in rather than simply what your product is.It is not rocket science, but it seems foreign to so many innovators that you might say it just does not compute.Plus, it is really hard to do.So, rather than trying to predict the future of a new product in a new class, it is simpler to look at the product's potential impact on what will be transformed in order to understand the value of the transformation and the speed with which customers will rush to acquire it.This focus on the impact of the transformation may be both simpler to understand and more revealing in terms of understanding an innovation's potential well in advance of its entry into the market.It is not easy to anticipate where business is headed, especially in fast-changing markets.Over the past fifty years, research disciplines have emerged that help executives gain better insight into their customers' intentions.Research is an optimization game; a fractional spending in your marketing budget should provide enough leverage to generate significant profits.If you are a movie executive planning the release of a blockbuster, it makes all the sense in the world to spend money on focus groups to test the movie's trailers so that you can improve their effectiveness before spending millions on the launch.Dollar for dollar, that is money well spent.Since we are in the research business, we often get feedback from management teams telling us that they are not interested, unable, or even unwilling to do any market research.One of the most perplexing reasons that we are given is, simply put, "we don't have the budget for it." Being strong advocates for research (hey, we have to get our kids through expensive private schools and on to college, and this gig is all we've got!), it is hard for us to comprehend this objection.Their company is probably spending millions on their development efforts in trying to bring a new product to market as fast as possible.They are usually either a venture-funded company or an internal group within a larger company, and their multimillion-dollar development effort is not yet a money maker.So the idea that somehow spending a relatively small amount of money on research is going to hurt their bottom line is preposterous.Yet, they can convince themselves that early on in the development cycle is not the right time to develop a clear vision regarding what market demand will look like just when their hot new product is ready to sell.Worse yet, they will tell us to come back later, after they are successful, telling us that they will have plenty to spend on research then.This thinking is completely upside down.Market research needs to be done in parallel with product development.The earlier you do it the better.The idea of spending on research after you are successful can only mean that you have got such a big ego that you just love reading about yourself.You do not need it then.The products that most companies are working on have relatively short shelf lives.There are narrow windows during which companies must get the most out of their R&D investments and use their development budgets to build what is needed.Companies that wait until their products are almost finished run the risk of wasting months and months of time while they learn in real time.Spending on research earlier in the product development cycle will yield terrific paybacks, which can significantly improve a company's chances of making a market.We think that traditional tools for listening to customers-polls, surveys, and focus groups-do not work well for innovative-driven companies because these instruments are designed to interpret mainstream thinking.For innovative areas, conventional wisdom does not matter.The traditional tools are designed to find where the majority opinion lies.Innovative companies do not care so much about the majority opinion since they are out to change the status quo.The process that we use for determining the impact that highly innovative companies will have on their markets is something we call the "Expert Interview." The methodology that we have developed for organizing input from industry experts provides the vehicle for accurately predicting the future of fast-changing markets and for anticipating customer demand.It is important to consider the Expert Interview as a peer to traditional research processes and a method that is highly effective for collecting input in fast-changing markets situations.As relevant as focus groups are to the consumer products industry, Expert Interviews have the potential for unlocking the secrets of highly innovative market potential [ Pobierz całość w formacie PDF ]