The Art of Translating Market Insight into Business Opportunities for Innovation

Abstract

Identifying and evaluating market relevant opportunities is an important pre-cursor to the execution of a product development process. If organizations want to innovate new products and services that will reliably connect with the market, they must develop expertise in translating market motivations into products and services that will satisfy them. This is best achieved using people who possess the ability to synesthetically connect seemingly disparate disciplines in new ways. This type of translation skill is not broadly recognized by the majority of people who work within large companies, yet it is vitally important in developing opportunities that are relevant to the market. Companies that learn to recognize this talent, and adopt a process that will make this skill accessible to the organization, will be able to reap great returns on innovation investment.

Citation

Di Resta, E. (2010), "The Art of Translating Market Insight into Business Opportunities for Innovation", International Journal of Innovation Science, Vol. 2 No. 2, pp. 65-80. https://doi.org/10.1260/1757-2223.2.2.65