Takes a classical view (goods-dominant logic) of emerging service economy. Giving a good set of stats from OECD, World Bank, International Monetary Fund, World Trade Organisation and various other national government figures.
Defines and describes Jobs to be done theory. Here we step outside the view of trying to find innovations based on knowledge of our customers segmentation or traits. And instead wonder what job it is they are hiring us to do for them. For me, this also sits at the heart of service-dominant logic. Once […]
Introduces the 16% rule, around diffusion – that you need to change the message and medium after 16% have adopted. This 16% relate to Rogers’ first two adopter categories: innovators and early adopters.
Abstract: A simple mathematical model describing the diffusion of a new, infrequently purchased product is proposed. Many previous papers have reported that the differing behaviour of "innovators" and "imitators" is fundamental to the diffusion process. However, previous models have failed to represent this differing behaviour effectively. The model presented considers a new and, importantly, simple way of viewing the diffusion process for consumer durables based on a simplified representation of "innovative" and "imitative" response of adopters to certain types of product information. The resulting model can accommodate bimodal first purchase sales curves, which are found to occur quite frequently, in addition to the more traditional unimodal curves. The resulting shape of the diffusion curve, which is the early product life cycle (PLC), can be explained in terms of key dynamic parameters of the model. Data for six consumer durables are analysed to test the model's performance.
you would need “to experience the innovation to be comfortable with it”
Identifies 6 traps that keep managers thinking in red oceans. Trap One: Seeing Market-Creating Strategies as Customer-Oriented Approaches – examples used: Sony Portable Reader System and Amazon Kindle Trap Two: Treating Market-Creating Strategies as Niche Strategies – example used: Delta’s Song subsidiary and Pret a Manger Trap Three: Confusing Technology Innovation with Market-Creating Strategies – […]