Topic 5

Question 1

Define: Invention

Answer 1

A novel way of solving a problem

Question 2

Define: Lone Inventor

Answer 2

Works in or outside a company often hyper-focused on a single product.

Question 3

Define: Product champion

Answer 3

Individuals/groups who believe in a product, often well connected.

Question 4

List: Drivers of Invention

Answer 4

Personal interest, constructive discontent, scientific/technical curiosity, commercial necessity, Desire to help others.

Question 5

List: IP - Types and Uses

Answer 5

Copyright - Art
Trademark - Branding
Servicemark - Service
Registered - Appearance
Patent - Invention

Question 6

Define: Innovation

Answer 6

Successful commercialization of an invention to the marketplace.

Question 7

List: Hurdles to Innovation

Answer 7

Marketability, financial support, need, price, risk, resistance to change.

Question 8

Define: Sustaining Vs. Disruptive Innovation

Answer 8

Sustaining: Increases the lifecycle of a product
Disruptive: changes how a task is done.

Question 9

List: Innovation Strategies

Answer 9

Architectural innovation - Changes the location/layout of the parts.
Modular - Adds/changes one or more of the components
Incremental - Small improvments to existing products
Radical - Completely new ideas (paradigm shift)

Question 10

List: Strategies for Innovation

Answer 10

Act of Insight: Light bulb moment
Adaption: Taking ideas from one field and applying them in another.
Analogy: Making a product function like something else
Technology Transfer: Applying tech in a new way
Chance: Accident (ie. penicillin)
Technology Push: New tech changes the product
Market Pull: Changes based on consumer demand.

Question 11

List: Stakeholders in Innovation

Answer 11

Lone Inventor, Product Champion, Investor

Question 12

Outline: Product lifecycle

Answer 12

Research and development, Introduction, Growth, Maturity, Decline

Question 13

List: Life Cycle Extension Strategies

Answer 13

Advertising, price reduction, product versioning, exploring new markets, new packaging

Question 14

List & Define: Obsolescence - Types

Answer 14

Style: product goes out of fashion
Functional: product stops working
Planned: intentional deterioration of the product
Technological: new technologies make the product obsolete

Question 15

List: Reasons a Product Diffuses into the Marketplace

Answer 15

Relative advantage, compatibility, complexity, observability, trialability.

Question 16

List: Adopter Groups - Rogers

Answer 16

Innovators, Early adopters, Early majority, Late majority, Laggards

Question 17

List: Catagories of Design Specifications

Answer 17

Aesthetics, cost, customer requirements, environment, size, safety, performance, material, manufacture.

Question 18

List: Catagories of Marketing Specifications

Answer 18

Target market, target audience, market analysis, user need, competition.

Question 19

List: Research Methods

Answer 19

Literature search, user trial, user research, expert appraisal.