IB+Product+inovation

=Core. Topic 2. Designers and the product cycle. = = =  media type="custom" key="3165188" align="center"

=Invention and Innovation. =

Invention: "The process of discovering a principle. A technical advance in a particular field often resulting in a novel product.

Innovation: "The business of putting an invention in the marketplace and making it a success".


 * **__Disappearing car door. __**

Arguably a good example of invention. || **__Ipod touch. __**

Arguably a good example of an innovative product. ||
 * media type="youtube" key="AAtkoje4-eM" height="344" width="425" || media type="youtube" key="5HVWtMBOj3w" height="295" width="480" ||

 =People and markets .=

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=An interesting perspective on innovation.= = = =media type="youtube" key="m6gaj6huCp0" height="344" width="425" align="center"=



**Key words and phrases linked to this section.**

 * **__Key word or phrase__** || **__Meaning.__** ||
 * Invention. || The process of discovering a principle. A technical advance in a particular field often resulting in a novel product. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Innovation. || <span style="font-family: 'Comic Sans MS',cursive;">The buisness of putting an invention in the marketplace and making it a success. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Dominant design. || <span style="font-family: 'Comic Sans MS',cursive;">The design contains those implicit features of a product that are recognised as essential by a majority of manufacturers and purchasers. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Diffusion into the marketplace. || <span style="font-family: 'Comic Sans MS',cursive;">The wide acceptance (and sale) of a product. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Market pull. || <span style="font-family: 'Comic Sans MS',cursive;">The initial impetus for the development of a new product is generated by a demand from the market. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Technology push. || <span style="font-family: 'Comic Sans MS',cursive;">Where the impetus for a new design emanates from a technological development. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Lone inventor. || <span style="font-family: 'Comic Sans MS',cursive;">An individual working outside or inside an organization who is committed to the invention of a novel product and often becomes isolated because he or she is engrossed with ideas that imply change and are resisted by others. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Product champion. || <span style="font-family: 'Comic Sans MS',cursive;">An influential individual, usually working within an organization, who develops an enthusiasm for a particular idea or invention and “champions” it within that organization. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Technophile. || <span style="font-family: 'Comic Sans MS',cursive;">Someone who immediately welcomes a technological change. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Technocautious. || <span style="font-family: 'Comic Sans MS',cursive;">Someone who needs some convincing before embracing technological change. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Technophobe. || <span style="font-family: 'Comic Sans MS',cursive;">Someone who resists to all technological change. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Corporate strategy. || <span style="font-family: 'Comic Sans MS',cursive;">Long-term aims and objectives of a company and ways of achieving them by allocation of resources. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Market penetration. || <span style="font-family: 'Comic Sans MS',cursive;">Increasing sales to existing customers or finding new customers for an existing product. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Market development. || <span style="font-family: 'Comic Sans MS',cursive;">Finding new applications for existing products, thereby opening up new markets. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Product development. || <span style="font-family: 'Comic Sans MS',cursive;">The creation of new, modified or updated products aimed mainly at a company’s existing customers. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Diversification. || <span style="font-family: 'Comic Sans MS',cursive;">Involves a company both in the development of new products and in selling those products to new companies. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Market sector. || <span style="font-family: 'Comic Sans MS',cursive;">A broad way of categorizing the kinds of market the company is aiming for. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Market segmentation. || <span style="font-family: Times New Roman; msoansilanguage: EN-US; msofareastfontfamily: MyriadPro-Regular;">Markets divided up into smaller segments where the purchasers have similar characteristics and tastes. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Robust design. || <span style="font-family: 'Comic Sans MS',cursive;">Flexible designs that can be adapted to changing technical and market requirements. ||
 * <span style="font-family: 'Comic Sans MS',cursive;">Product family. || <span style="font-family: 'Comic Sans MS',cursive;">A group of products having common classification criteria. Members normally have many common parts and assemblies. ||

Test yourself [|here.]