Book contents
- Frontmatter
- Contents
- Contributors
- Foreword
- Preface
- Section I Introduction
- Section II Learning to flip coins
- Section III Tailoring fits
- Section IV Remembering to forget
- 8 Local rationality, global blunders, and the boundaries of technological choice: Lessons from IBM and DOS
- 9 On the dynamics of forecasting in technologically complex environments: The unexpectedly long old age of optical lithography
- 10 Three faces of organizational learning: Wisdom, inertia, and discovery
- 11 Organizational entrepreneurship in mature-industry firms: Foresight, oversight, and invisibility
- 12 Minimizing technological oversights: A marketing research perspective
- Section V (S)Top management and culture
- Section VI Clearing the fog
- Author Index
- Subject Index
12 - Minimizing technological oversights: A marketing research perspective
Published online by Cambridge University Press: 07 October 2011
- Frontmatter
- Contents
- Contributors
- Foreword
- Preface
- Section I Introduction
- Section II Learning to flip coins
- Section III Tailoring fits
- Section IV Remembering to forget
- 8 Local rationality, global blunders, and the boundaries of technological choice: Lessons from IBM and DOS
- 9 On the dynamics of forecasting in technologically complex environments: The unexpectedly long old age of optical lithography
- 10 Three faces of organizational learning: Wisdom, inertia, and discovery
- 11 Organizational entrepreneurship in mature-industry firms: Foresight, oversight, and invisibility
- 12 Minimizing technological oversights: A marketing research perspective
- Section V (S)Top management and culture
- Section VI Clearing the fog
- Author Index
- Subject Index
Summary
Introduction
… if the weight of invention or discovery is one, the weight to bring it to actual development should be ten and the weight to produce and market it should be one hundred.
Masru Ibuka, President of SonyDespite increasingly experienced management, the majority of new products fail to achieve their anticipated level of success in the marketplace. The causes for that lack of consistent market success have been the subject of much academic study (Lilien & Yoon, 1989). That literature is consistent with the results of a recent survey by a consulting firm, Ltd., that reports that among 154 senior marketing officers of U.S. corporations:
79% believe the new product development process could be improved
58% do not rate R&D as a successful source of new products
46% do not rate R&D's contribution to new product development as significant.
As for the reasons for their perception of why this process is less than ideal, consistent with the findings of Booz, Allen, and Hamilton (1982) they report:
Products don't offer a competitive point of difference (52%)
Product doesn't deliver as promised (43%).
In addition, 61% of the respondents expect that 30% or more of their sales will come from new products within the next 3–5 years. Finally, EFO reports that they have conducted this research periodically and the companies are getting more concerned: firms see new products as a source of hope, but they are showing ever more frustration over their internal processes for developing successful new products.
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- Information
- Technological InnovationOversights and Foresights, pp. 214 - 230Publisher: Cambridge University PressPrint publication year: 1997
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