Cambridge Consultants Blog
“If I’d asked my customers what they wanted, they’d have said a faster horse” – Henry Ford
By Alan Richardson - Last updated: Monday, February 14, 2011
Its a very famous quote, but its still one to keep in mind when planning a new innovative product development, particularly in fast moving sectors like consumer products. Incremental improvements – like a faster horse – don’t usually lead to radical market beating innovations that give that period when early adopters buy the product at a heavy premium followed by mass adoption at a healthy margin whilst the competition is still catching up. The car on the other hand …
But how can you make a breakthrough more likely?
- Look sideways – the technologies and processes used in other industries can often be applied to your space
- Watch your customers use your products (and your competitors’ products) in their environment … unusual insights often arise – the work arounds that they employ can be the basis of a product that meets customer need better
- Don’t try to give birth to the whole product concept at once … merging idea fragments often lead to the best results
Of course, there’s more to it than this. If you find yourself struggling to realise that breakthrough innovative product concept, visit http://www.CambridgeConsultants.com/radical.
Dr.A.Jagadeesh Said,
July 3, 2011 @ 9:27 am
What a practical advise to new entrepreneurs. I will adopt them in Business of Innovative Projects Alan Richardson.
Dr.a.Jagadeesh Nellore(AP),India
Wind Energy Expert
E-mail: anumakonda.jagadeesh@gmail.com