Idea Generation and its Role in New Product Development Process
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
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Idea Generation and its Role in New Product Development Process
Idea generation is the process of generating and selecting ideas to solve discrete problems (Burleson, 2021). Idea formulation is a process It goes through two stages: divergence and convergence. We postpone judgment throughout the divergent period. This is the point at which all the ideas seem good ideas. The second part, the convergent phase, is when we use judgment to choose the greatest ideas to evolve. The aim of the idea generation, nevertheless, is to resolve consumer problems in the new product development. Without a well-defined problem, our thoughts will be unrestrained. Furthermore, creating a problem statement stimulates creativity and critical thinking.
Innovation, as a concept, relates to the method through which an individual or organization visualizes brand new goods, processes, and ideas, or approaches current products, processes, and ideas in creative ways. There are many different forms of innovation that a company may explore in the business sector. These are frequently linked to specific goods, internal procedures or workflows, or business models. Weve all heard the phrase adapt or die and for businesses to achieve success in todays modern world, this is a universal truth (Purcell, 2019). Innovation aids business growth. Because they appreciate the beneficial impact of innovation, businesses continue to develop while remaining one step ahead of the competition. The world around us is continuously changing, and businesses will ultimately need to evolve in order to meet these new realities if it wants to be relevant and successful. In order to compete and remain relevant in this changing climate, established businesses must innovate. Innovation assists an organization in distinguishing itself and its goods from the competitors, which may be especially effective in a crowded market. Doing something different than everyone else in your industry is what innovation is all about.
Social listening is a marketing tactic that has been around for a while and yet isnt overused (Gorbatch, 2019). The approach is used to enhance customer service, identify market trends for product development and advertising activities, manage the brand image, conduct competitor analysis, identify related social media influencers, and locate “hot” leads on social networking sites. Brands begin with social listening, then analyse the data to determine where the trouble areas and exciting opportunities are. As it usually happens, amazing discoveries are created by chance.
I have been using Fitbit since quite a long time which allows me to monitor my daily physical activity. Fitbit aggressively employs social media in their promotion, and it appears to be successful. A social listening tool’s job is to be everywhere you are and more. Fitbit uses social listening to discover developing issues and troubleshoot and get input from customers who may be experiencing a specific sort of difficulty. The business also accepts suggestions from its communities since many Fitbit users possess relevant knowledge. The top concepts are then presented to engineering teams. The Reminders to Move function is a fantastic illustration of how the brand leverages social listening for product development. It is a buzzing reminder that encourages the user to get up and move or walk for a bit. The users themselves introduced this very helpful function to Fitbit.References
Burleson, S. (2021, April 14). Idea Generation: 12 Rules to Ensure High-Impact Ideas. The AIM Institute. https://theaiminstitute.com/innovation/idea-generation/
Gorbatch, A. (2019, May 7). 4 Inspiring Social Listening Examples From Brands Doing It Right. Jeffbullass Blog. https://www.jeffbullas.com/social-listening-examples/
Purcell, W. (2021, May 28). The Importance of Innovation in Business | Northeastern University. Northeastern University Graduate Programs. https://www.northeastern.edu/graduate/blog/importance-of-innovation/
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