FSN 125 Lecture Notes - Lecture 17: Microbiology, Transitional Fossil, Learning Organization
1 Dec 2017
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Document Summary
How to identify an opportunity for a new product: convenience. What to think about : line extension (strawberry vanilla peach, repositioned existing product, new form or size of existing product, reformulation of existing product, repackaging of existing product, innovative product, creative product. How pd is done the old, wrong way. *wrong because consumer is at the end of the chain. Inventor first person to make a novel and prospectively use product or process. Innovation first person or enterprise to exploit that invention in a commercially viable product or service. Glm (stats) missing link is emotion. Product and concept testing have limitations because in the mathematical equation there is no variable that accounts for the psychological processes involved in quantifying features or attributes that differentiate products. For inventions to blossom they should have a few characteristics : coincide with a movement, extendable to other fields, consumer perceived benefits, commercial value recognized, easily implemented.
