Market-based vs. product-based information

The emergence of the Creativity Templates approach can be best illustrated by looking at the reality of new product innovation and the widespread methods typically used to detect and identify ideas for new products.

Introducing new products is one of the prime activities of firms and one of the most important determinants for their survival. Yet, while 25,000 products are introduced annually in the US alone, most of them are doomed to fail [1, 2]. The greatest financial loss caused by failed products occurs at the market introduction stage [3]. This state of matters may be a reason for the substantial efforts constantly devoted to “me-too” products and brand extensions [4].

Nevertheless, there is a significant correlation between innovative firms and leadership status [5]. In view of this fact, it is useful to screen at the major information sources that may determine the success or failure of new products at the ideation stage [6,7]. In marketing practice, creative ideas are highly valued and rewarded, and exploring new ideas is part of the daily activities. The high rate of failure, and the difficulties in obtaining accurate predictions of success (which are amplified when it comes to genuinely new products), are facts that need to be considered when we want to develop a marketingoriented ideation approach.