Market Research for Radical Innovation

Herstatt, Cornelius

doi:10.1057/9780230512771_17

Cited by 3 publications

(4 citation statements)

References 6 publications

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“…To further explain, the best solution for the market can be provided by the lead user as they face needs that will be general in the marketplace but face them months or years before the mass consumers of that marketplace encounters them. They also positioned to benefit significantly by obtaining a solution to those needs [14,19].…”

Section: Lead User Methodsmentioning

confidence: 99%

“…These techniques focus on capturing consumer's previous experience with the available products or services of the company. Practical experience shows that direct research with customers and users delivers good results for incremental innovations; whereas, for radical innovations the results are usually unusable [18,19,42].…”

Section: Conventional Testingmentioning

confidence: 99%

“…However, it doesn't abolish the confusion and misconception of how to deal this situation or how to get the future acceptance, demand or sales prediction [11]. The market information need of radical innovation projects is orientated mostly towards the future [19].…”

Section: Specific Challenges In Radical Innovationmentioning

confidence: 99%

“…Thus, radical innovation simultaneously drives market growth, firms' success, and nations' economic growth. Moreover, Radical product innovations are those that satisfy a new need through the utilization of a new technology or one not yet applied in that form [19]. The rapid innovation across countries overlaps with entrepreneurial behavior.…”

Section: Introductionmentioning

confidence: 99%

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Developing a New Market Testing Procedure in the Context of Radical Innovation

Iqbal¹

2015

COM

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In the context of radical innovation the conventional market testing procedures seems ineffective to generate sufficient profit for the company and satisfy consumers need. Moreover, the alternative approaches lacked some features to successfully prototype testing. So, the gap between the literature and the real life application leads towards producing a radically new approach for market testing. Therefore, sole aim of this research was to produce an effective market testing procedure in the context of radical innovation. To produce a new testing procedure an extensive research has been done based on document research methodology on the alternative approaches such as Open Innovation, Lead User method, Delphi Technique and Product Bundling. The new procedure has been divided into two categories based on target market-one focuses on the mass consumers and the other on the expert consumers. The categorization was important as literature demonstrated that consumers perceive and behave differently when considering radically new products. The new procedure sheds light on the complexity of understanding consumer needs and technological innovation. The firms can use this procedure to effectively generate useful feedback before commercializing their radically innovated products.

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Section: Lead User Methodsmentioning

confidence: 99%

Section: Conventional Testingmentioning

confidence: 99%

Section: Specific Challenges In Radical Innovationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Developing a New Market Testing Procedure in the Context of Radical Innovation

Iqbal¹

2015

COM

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Theoretical Assumptions of Methodology for Investigation of Risk Management in Innovation Activity According to the Innovation Management Approach

Kirova

Lyubenova

2022

International Scientific Conference „Business and Management“

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The main purpose of this article is to demonstrate theoretical assumptions of methodology for studying the risk management in the innovation activity of enterprises according to the approaches for innovation management they use. First, we identify the risks in innovation activity and the methods for their assessment in the current litera-ture. Second, we identify approaches for innovation management and seek a link between them and possible risks. The literature review shows a literature gap on specific risks associated with a particular approach to innovation manage-ment. In order to overcome these limitations, the authors propose a structure and content of questionnaire for empiri-cal expert survey.

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Market Testing Procedures for B2C and B2B in Perspective of Radical Innovation

Iqbal

2017

International Journal of Customer Relationship Marketing and Management

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The new market testing procedure has been divided into two types- one type focuses on the general consumers (B2C) and the other on the expert consumers (B2B) who have established strong relationship with the new radically innovated products. This feature will add value to the business to segment their market testing procedures on the basis of targeted consumers. Along with strong literature based on Open Innovation, Lead User method and Delphi Technique; three major case studies have been used to develop the dynamic and flexible market testing procedures. The new procedure sheds light on the complexity of understanding consumer needs and technological innovation. The businesses can use this procedure to effectively generate useful feedback before commercializing their radically innovated products from their target customers. The developed procedures will provide authentic and reliable data for further development of the businesses product or services.

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Market Research for Radical Innovation

Cited by 3 publications

References 6 publications

Developing a New Market Testing Procedure in the Context of Radical Innovation

Developing a New Market Testing Procedure in the Context of Radical Innovation

Theoretical Assumptions of Methodology for Investigation of Risk Management in Innovation Activity According to the Innovation Management Approach

Market Testing Procedures for B2C and B2B in Perspective of Radical Innovation

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