ABSTRACT

According to the innovation monitor of the consultant agency The Bridge, 'the increase in revenue through innovation has risen to the most important strategic priority, bypassing independent growth and growth through purchasing'. A more complex definition is: A new physical or virtual offer in a specific packaging with a specific brand name that is delivered to a specific group of customers with a certain business model through a specific distribution channel. The speed at which new solutions reach the market can be a matter of months, if not weeks, and this timeframe is continually shrinking as online service organisations embrace a 'beta' culture. In addition, new technological opportunities from R&D can be the drive for new products enabling the creation of different business models. According to a recent study by the American Product Development Management Association, in order to put one successful product idea on the market, we need seven new product ideas.