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Friday, 10 May 2013 09:55

A NEW CONCEPTUAL FRAMEWORK FOR A PRODUCT INNOVATION

  Asghar Jabal barezi sabrijan 2   

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Abstract
A  product innovation is a subclass that has received less attention in terms of definitions. This paper aims to provide coherence to confusion of concepts. The purpose of this conceptual paper is to propose a new framework that defines product innovation from a single firm’s viewpoint. Other. Firms are not ever-patient and a product that does not become successful in a specified timeframe will be terminated or temporarily pulled out from market. Actual period of time for this decision may differ significantly depending on an underlying industry. The definition of success is the most troublesome part in our framework. Objective measurement of success is challenging. Therefore, the framework is formulated from a firm-centric viewpoint. In that sense, we postulate that success is defined by a respective firm in advance (prior launch) based on their internal goals and objectives. One of the key premises behind our framework is that innovations can be claimed and justified only retrospectively. As a result, this paper hopefully gives readers - managers and academics alike, a new mindset to better outline products into meaningful categories. In addition, if applied correctly the framework can limit the amount of products that are declares as innovations and thus prevent dilution of a word innovation – the truth is that not every player can be a winner and every product just can not turn out to be an innovation.
Keywords: Product innovation, conceptual framework.

Read 2312 times Last modified on Sunday, 01 September 2013 07:37