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Flashcards in Guest Lecture Deck (6)
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1
Q

Failure rate of new introduced products

A

60-80 percent

2
Q

3 essential preconditions for New Product Success

A

Consumer-Centric Product-Concept —> DEFINING VALUE

Consistent Staging of Brand Benefits —> DEVELOPING VALUE

Professional Planning and Monitoring —> ELIVERING VALUE

=> CONSUMER ORIENTATION

3
Q

What are the Main Problems by Defining Value?

A
  • No Consumer-Centric Product Concept
  • No Winning Concepts
  • No Innovation Pipeline
4
Q

What are the Main Solutions for Defining Value?

A
Four Capacities
One Simple Process Model
Executional Rigor (Ausführungsstrenge)
5
Q

Which are the Four Capacities?

A

Absorptive Capacity
Distilling Capacity
Transforming Capacity
Screening Capacity

6
Q

Consumer Insights tools

A

Ethnographic Tools
Consumer Homework
Specific Consumer Insights
Listening-In/ Co-Creation