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1 – 10 of over 120000Use by some firms of a revolutionary new form of market research,here termed “real‐time market research”, has been observedin certain dynamic product markets where technologies…
Abstract
Use by some firms of a revolutionary new form of market research, here termed “real‐time market research”, has been observed in certain dynamic product markets where technologies and consumer preferences change rapidly. In real‐time product research, firms produce small lots of new product models and research consumer reaction by offering product model variations to consumers. This product research has been made economically feasible by the development of methods for shortening the time required for product development, by the adoption of flexible manufacturing systems, and by the rise of important new regimes for designing products. Documents the apparent use of real‐time market research by some firms and discusses the new product design regimes which make real‐time research feasible and economic.
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The real‐time response survey can be viewed as a dialectic elaboration of the focus group and the sample survey, incorporating some of the advantages of each and producing a…
Abstract
The real‐time response survey can be viewed as a dialectic elaboration of the focus group and the sample survey, incorporating some of the advantages of each and producing a program of research quickly. An evaluation of the methodology shows its predictive utility from: real‐time response purchase intentions to self‐reported actual purchases of common commodities seven days later (r = 0.97); real‐time response purchase intentions to self‐reported actual purchases of new products six months later (r = 0.94); and an index of three real‐time response ratings of a product (purchase intention, price, and extent to which product is new and different) by residents of Cincinnati to national sales data for the following year (r = 0.45). Considers some advantages and disadvantages of the methodology. It can be quite useful in new product development.
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Mary Weir and Jim Hughes
Introduction Consider a hi‐fi loudspeaker manufacturing company acquired on the brink of insolvency by an American multinational. The new owners discover with growing concern that…
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Introduction Consider a hi‐fi loudspeaker manufacturing company acquired on the brink of insolvency by an American multinational. The new owners discover with growing concern that the product range is obsolete, that manufacturing facilities are totally inadequate and that there is a complete absence of any real management substance or structure. They decide on the need to relocate urgently so as to provide continuity of supply at the very high — a market about to shrink at a rate unprecedented in its history.
Briefly reviews previous literature by the author before presenting an original 12 step system integration protocol designed to ensure the success of companies or countries in…
Abstract
Briefly reviews previous literature by the author before presenting an original 12 step system integration protocol designed to ensure the success of companies or countries in their efforts to develop and market new products. Looks at the issues from different strategic levels such as corporate, international, military and economic. Presents 31 case studies, including the success of Japan in microchips to the failure of Xerox to sell its invention of the Alto personal computer 3 years before Apple: from the success in DNA and Superconductor research to the success of Sunbeam in inventing and marketing food processors: and from the daring invention and production of atomic energy for survival to the successes of sewing machine inventor Howe in co‐operating on patents to compete in markets. Includes 306 questions and answers in order to qualify concepts introduced.
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Jeffrey F. Durgee, Gina Colarelli O’Connor and Robert W. Veryzer
Develops and refines a new way to generate and identify opportunities for really new product functions. Considers that the role played by marketing research in really new products…
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Develops and refines a new way to generate and identify opportunities for really new product functions. Considers that the role played by marketing research in really new products is limited. Traditional marketing research methods here are largely confined to asking people about problems with current products, watching them use these products and asking them to use new prototypes in extended use tests. Describes a new method for identifying new consumer or industrial product functions. Target consumers for a given category are exposed to 300 mini‐concepts. Concepts consist of verb‐object combinations describing possible new functions in that category. Concludes that once key needs or opportunities are identified for a given category, the next step is to determine which current or new technologies are required to address these needs.
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New products are seldom really new. Yet modellers of adoption processes have largely ignored the effects of existing buying habits on first trial of a product. A standard renewal…
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New products are seldom really new. Yet modellers of adoption processes have largely ignored the effects of existing buying habits on first trial of a product. A standard renewal process model is shown to fit data on cumulative shoppers at a new store, in conjunction with lognormal buying frequency assumptions. The penetration curves so derived lie close to the widely used modified exponential, which therefore obtains a rationale. Such curves represent the normal rise in penetration, as a proportion of shoppers enter the market in accordance with their regular cycle of repurchase. Most products are bought in this way. Few are really new, in a sense defined and discussed. Yet model builders have persistently used the framework of adoption processes, ignoring the influence of a repurchase cycle. They have instead assumed that new product adoption is “driven” by forces such as weight of advertising. From the position of a devil's advocate, it is arguable that these assumptions are misguided. Marketing mix variables are not sufficient or adequate to explain the growth rate of products which are not genuine innovations.
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It is all too easy in the hectic world of business to get too involved with the day‐to‐day managing of processes and events. When this happens it is difficult to see the wood for…
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It is all too easy in the hectic world of business to get too involved with the day‐to‐day managing of processes and events. When this happens it is difficult to see the wood for the trees and the automatic pilot syndrome takes over. This does not suggest that you do not know what you are doing ‐ on the contrary you are probably as switched on to whatever activity you are managing as anyone could be. What you could be missing, however, is the explanation as to why you are doing it. If this sounds familiar to you, what might be needed is a detached period from your work. By this I mean stay on the high ground for a while so you can get an overview of what you are doing and, more importantly, why you are doing it. How many managers, I wonder, get the opportunity to question what they are doing? If you allow yourself to slip into complacency then you and your organization will soon lose competitive advantage.
Praveen Aggarwal, Taihoon Cha and David Wilemon
This paper examines adoption of really‐new products (RNPs) from a consumer perspective. The unique characteristics of RNPs which differentiate them from other innovative products…
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This paper examines adoption of really‐new products (RNPs) from a consumer perspective. The unique characteristics of RNPs which differentiate them from other innovative products are examined in relation to the role which these characteristics play in creating barriers to adoption of RNPs. These characteristics in turn affect different stages of the adoption process. Surrogate buyers, acting as agents used by adopters to provide guidance, direction, and/or advice related to marketplace activities, can significantly impact consumer adoption and commercial success of RNPs by minimizing or overcoming barriers related to the stages of the adoption process and characteristics of RNPs.
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Digital and information technologies (IT) are becoming silently pervasive in old-fashioned real estate markets. This paper focuses on three important avenues for the diffusion of…
Abstract
Purpose
Digital and information technologies (IT) are becoming silently pervasive in old-fashioned real estate markets. This paper focuses on three important avenues for the diffusion of IT in commercial real estate: online brokerage and sales, the commoditization of space and Fintech in mortgage and equity funding. We describe the main new markets and products created by this IT revolution. The focus is on the pioneering US market, with some attention devoted to the specific firms and institutions taking these innovations into the mainstream. We also carefully analyze the economic underpinnings from which the new technologies can expect to generate cash flows, thus becoming viable—or not. Finally, we discuss their likely impact on established players in the commercial real estate arena.
Design/methodology/approach
In this paper, the author chooses to focus on three separate arenas where the IT revolution—sometimes referred to as Proptech, as applied to real estate—is having discernible impacts: sales and brokerage, space commoditization and online finance platforms. The author invites the reader to think seriously about the economic fundamentals that may—or may not—sustain new business models in Proptech. Real estate economists and investors alike need to be critical of new business models, especially when they are being aggressively marketed by their promoters. Trying to avoid any hype, the author provides thoughts about the likely impact of the innovations on their markets, guided by economic and finance theory, and previous experience.
Findings
The author evaluates the evolution of commercial real estate brokerage. While innovations will, no doubt, have an impact on the ways in which we buy and lease commercial properties, the lessons from the housing market should make us skeptical about the possibility of the new technologies dramatically facilitating disintermediation in this market. In fact, new oligopolies seem to be emerging with regard to market data provision.
Practical implications
Proptech will change some aspects of the real estate industry, but not others!
Originality/value
As change pervades the property industry, only a relatively few research pieces are illustrating or—more importantly—providing insights about the likely economic and financial impacts of IT penetration. Similarly, only a few papers have so far addressed the economic viability of the alternative business models of tech startups targeting real estate markets and transactions.
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In the hectic world in which we live it is all too easy to lose sight of our original goals. Day‐to‐day events take on an unprecedented amount of importance relative to our…
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In the hectic world in which we live it is all too easy to lose sight of our original goals. Day‐to‐day events take on an unprecedented amount of importance relative to our overall aims. What people need more of is an overview of what they are doing to enable clarity and perspective to shine through. Easier said than done, I hear you say, and you are probably right. This special issue of British Food Journal, on the theme of new product development, aims to add perspective by adding a selection of articles on how other industries manage this most important of areas.