WEEK 4

2.Which of the following new product innovation strategies is/are most interesting to
“you”?

(A). Developing a new product as a way to generate large profits

(B). Discontinuous innovation because it uses many new technologies
(C). Developing a new product as the ultimate goal
(D). Developing a new product as a means to serve people
(E). Developing a new product as a demonstration of your innovation capability

The alternatives chosen are very much related, as one leads to the other. A good start to
any innovation is to create a real impact in people’s lives, which will turn them into
clients. By truly meaning something, the demand will certainly benefit the market and
create the possibility of generating large profits. From this point, the product’s
acceptance in the market will help developers improve its features and performance,
which will keep customers interested. Also, as studied previously, the market is the best
test to attest any innovation’s capability. Therefore, if it is capable of serving people’s
need and succeeds in the market, there will be no doubt about its capability.

4.Initiating a blue-ocean market is important, but hard to do. What is/are the real
difficulties of creating a blue-ocean market in your opinion?

(A). Forecasting emerging customer demands is risky

(B). Future customer demands may change suddenly
(C). Attracting initial customers to a brand-new market is difficult
(D). Keeping initial customers with your new products is quite hard
(E). An initial blue-ocean market may not mature to become a large and stable
market

When it comes to product development, there are two possible paths: identifying
existing non-satisfied demands or creating a new one. The second alternative is proven
to be more effective, once it generates excitement and does not deal with very high
expectations. But this process is not easy. It can be very challenging to attract initial
customers to a brand-new market, because there might be some initial distrust to get
over. Once this step is completed, it is important to keep customers interest in the
product. In this stage, the HOOKED model can be very useful. Through triggers, it is
possible to encourage certain actions, which will be rewarded. This process is known to
create habits, which will allow developers to make new investments and improve the
product. Finally, success in previous stage does not assure that this initial market will
become large and stable, once customer base may be too small or interest may be lost.

6.Among the three strategies of developing and deploying new product to initiate a

blue-ocean market, which one is most important in your opinion?
 (A). The Kano Model of Customer Satisfaction
(B). The Minimal Viable Product model
(C). The Hooked Model
(D). They are all equally important
(E). None of them is important

All strategies presented are equally important for the development and deployment of
new product, but in different stages. The Kano Model of Customer Satisfaction and The
Minimal Viable Product Model are essential in the very beginning of product
development. The former helps to focus on features that will truly make people
interested and encourage them to buy, while the latter avoids waste of resources and
allows fast introduction to the market. Data created by first buyers will allow further
investments. At this point, The Hooked Model becomes very important. Through this
technique, simple and addictive experiences related to the products will evolve into
habits to the clients, which will keep them interest.

8.Finding an “excitement feature” is important but difficult. Why is it hard to find an

excitement feature for a new product in your opinion?

(2 Pontos)
(A). Because excitement features are intrinsically subjective
(B).Because excitement features are derived from innovators’ unique insights of
customer lifestyles
(C). Because excitement features are not quite known until customers have real
experiences with them
(D). Because once you identify an excitement feature, it is not a surprise to you
anymore
(E). Because excitement features can be very different in different markets around
the world

It is hard to find an excitement feature because you never know how each client will
feel about it once they are incredibly subjective and very related to the buyers’ lifestyle.
What might please some, may not satisfy others. So, in the end, it really comes down to
the innovators’ unique insights about it. It is about identifying possible breakthroughs,
thinking outside the box and creating something that will amaze the biggest number of
people. The most successful innovator will be the one that makes the right decisions
based on the data he collected. And that is only truly known when the product is already
in the market and the impact it causes is clear.