What challenges do

2. The Innovation Imperative

4. Innovative firms
Able to Identify and seize market
opportunities
Create positive attitude towards innovation
Routinize the innovation process
Practice team work and
Allow their people to experiment and
even fail

5. Companies that fail to innovate:
Existing offerings vulnerable to changing customer
needs and tastes
Shortened product life cycles
Increased domestic and foreign competition

6. New Product Sucess

7. Incremental
Innovation
Disruptive Technologies
Unique, Superior product

8. New Product failure

9. 90% of experimental drugs are unsuccessful
Failure
An inevitable
Part of discovery

10. Reasons for failure :
Misinterpreted market research
Overestimates of market size
High development costs
Poor design or ineffectual performance
Incorrect positioning, advertising, or price
Insufficient distribution support
Competitors who fight back hard
Inadequate ROI or Payback

11. Additional reasons for failure
Shortage of important ideas in certain
areas
Fragmented Markets
Social, economic and government
constraints
Cost of development
Capital shortages
Shorter required development time
Poor launch timing
Shorter product life cycles

12. Image credits
(Flickr users)
Diana Pinto
DANG3Rphotos
SezzRS