Achieving Planned Innovation: A Proven S

Informationen zum Autor Frank R. Bacon, Jr., is a professor of marketing at Michigan State University. The originator of the Planned Innovation process, he has assisted many foreign and domestic companies in the development of market-oriented plans and new products for commercial, industrial, military, and aerospace markets. He lives in East Lansing, Michigan. Klappentext Despite promising marketing research, most new products and services fail. However, with Frank R. Bacon's and Thomas W. Butler's Planned Innovation® system, any firm, of any size, in any country in the world can achieve high rates of success in new-product innovation. Like a preflight instrument check done by a cockpit crew, Planned Innovation is a disciplined and practical step-by-step sequence of procedures for reaching the intended destination point -- successful products -- every time. In an easy-to-read fashion, the authors explain their Planned Innovation system -- their action-oriented program for continuous success in new-product innovations without major failures. Their practical program features five steps to success, including: (1) a disciplined reasoning process, (2) lasting market orientation, (3) proper selection criteria that reflect (a) both strategic and tactical business objectives and goals, (b) dynamic matching of resources to present and future opportunities, and (c) positive and negative influences of major external trends affecting present and future business opportunities, (4) scientific reasoning to determine requirements before making major expenditures, and (5) proper organizational staffing. With this market-tested five-element paradigm, the authors explain what to do and why in evaluating the potential of any new product or service, ranging from ventures in retail distribution to the manufacture of products as diverse as bicycles, motorcycles, aerospace communication and navigation equipment, small business computers, food packaging, and medical products.Other topics covered include how to cultivate a lasting market orientation, how to choose selection criteria that reflect strategic objectives and tactical goals, and how to assess the positive and negative influences of external trends on business opportunities. The authors also explain how to creatively exhaust all the 'near-in' opportunities available, from modifying existing products for familiar existing markets and extending their product-life cycles -- with minimal cost, time and risk. Chapter 1 What This Book Is All About The message of this book is simple: High rates of success in message new product innovation are possible for any firm, of any size, in any country in the world. Planned innovation is a proven, action-oriented, results-producing recipe for achieving such success. The purpose of this book is to explain the philosophy and procedures which lead to that success. Do any of the following four scenarios fit your firm's situation? 1. Your firm already has a new product development process which is not functioning smoothly and efficiently, and/or is not producing a high rate of success. 2. Your firm has recently decided it needs accelerated sustained growth through new product developments (possibly because the benefits from a reengineering or cost reduction program have been exhausted, leaving a need for increased profit from accelerated growth). 3. Your firm has concluded that, despite its suitable position in existing product-markets, it needs to modify and extend its current products to maintain or expand its future position in these markets. 4. Your firm has a central or regional R & D group which is operating with little or no input regarding future product-markets. If you answered yes to any of the four questions, you should read on. The examples given will illustrate how Planned Innovations addresses each of these situations. Example #1: What We Mean by a...

List of contents

Contents

Prologue: How Planned Innovation Was Developed and Where It Has Been Used

1. What This Book Is All About

Example 1: What We Mean By a High Rate of Success

Example 2: Achieving Accelerated, Sustained Growth

Example 3: Growth Through Improvements in Existing Products

Example 4: Providing Guidance to R&D

Would Planned Innovation Have Value to Your Firm ?

2. What Is Planned Innovation?

3. The Planned Innovation System

Element One: A Disciplined Scientific Reasoning Process

Element Two: Lasting Marketing Orientation

Element Three: Proper Selection Criteria

Element Four: Using Scientific Reasoning to Determine Requirements Before Making Major Expenditures

Element Five: Ensure Multifunctional Involvement

4. Establishing a Disciplined Scientific Reasoning Process for New Product Innovation

5. The Model of Requirements for Successful Innovation

Model for Identifying Economic and Emotive Value

Four Questions to Address in Each Segment of Focus

Opportunity Selection Criteria Become the Optimizing Function

6. Forming a Lasting Market Orientation

Definition of Business Orientations

Blue Jeans -- a Universal Example

Functional Product-Market Definition

Definition of "Product"

Definition of "Functional Need"

Definition of "Customer"

Definition of "Geography"

Marketing Strategy, Mix, and Plan

Examples of Functional Product-Market Definitions for Blue Jeans

Changing to a Market Orientation

7. The Value of Opportunity Selection Criteria

Selection versus Screening Criteria

Selection Criteria Can Also Be Used for Screening

Issues Involved in Opportunity Selection Process

Importance of Integrating Strategy and Tactics

Matching Resources to Opportunities

Success Must Be Tactical and Strategic

8. Obtaining Proper Inputs to Opportunity Selection Criteria

Mission Statements Guide New Product Innovation

Statement of Financial Goals Needed

The Role of Functional Objectives

Defining Capabilities, Strengths, and Weaknesses

Competitive Opening and Advantage

External Trends

The Mental Work Required Is Well Worth the Effort

9. The Power of Scientific Thought Process in New Product Opportunity Analysis

The Technique of Strong Inferenc

The Benefit of Hypotheses of Cause-Effect

Scientifically Based Opportunity Analysis Can Be Valuable at Any Stage of New Product Development

10. Opportunity Analysis: Initial Assessment Phase

First, Define the Opportunity

Second, Verify that Opportunity Meets Selection Criteria and Establish Priority

Third, Identify Critical Issues

Fourth, Formulate Hypotheses Based on Critical Issues

Fifth, Determine What Information Would Provide the

Most Decisive Test of Hypotheses

Sixth, Go for the Jugular in Obtaining Information

What Should Be Accomplished in the Initial Assessment Phase

11. Opportunity Analysis: Range of Requirements Phase

Testing Hypotheses Regarding Range of Requirements

Sample Size Required

Need for a Carefully Structured Questionnaire

Analysis of Competition

What Should Be Accomplished in the Range of Requirements Phase

12. Opportunity Analysis: Quantitative Confirmation of Market Potential Phase

Design of a Stratified Random Sample

What Should Be Accomplished in the Quantitative Confirmation Phase

13. Application of Opportunity Analysis to Different Types of Products and Markets

Parallel Activities Are Possible

Determining Requirements for Consumer Products

14. Implementing Planned Innovation to Achieve Multifunctional Involvement

Managerial Support Required

Multifunctional Involvement

Qualification and Training of Analysts

Maintaining the Flow of Ideas

Implementing the Planned Innovation System

The Planned Innovation Board

Recurrent Training

Epilogue: How Planned Innovation Provides Answers to Popular Myths Regarding New Product Innovation

Nine Areas of Requirements for Successful Innovation

Myth 1: The Better Mousetrap

Myth 2: Another Xerox

Myth 3: The Gift of Genius

Myth 4: The Lotto

Myth 5: All You Have to Do Is Ask Your Customer

Myth 6: The Alchemist Stone

Notes

About the author

Frank R. Bacon, Jr., is a professor of marketing at Michigan State University. The originator of the Planned Innovation process, he has assisted many foreign and domestic companies in the development of market-oriented plans and new products for commercial, industrial, military, and aerospace markets. He lives in East Lansing, Michigan.

Product details

• Authors: Frank R. Bacon, Bacon Frank R.
• Publisher: External catalogues UK
• Languages: English
• Product format: Paperback / Softback
• Released: 16.03.2010
• EAN: 9781416573210
• ISBN: 978-1-4165-7321-0
• Assisted by: Thomas W. Butler
• Subjects: Social sciences, law, business > Business > Management; Business & Economics / General, Philosophy, BUSINESS & ECONOMICS / Management, BUSINESS & ECONOMICS / Industrial Management