An article by Donald Cooper, MBA...
Advertising is creative bragging. If you’re not doing anything worth bragging about, save your money!
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Recently, I realized that one of the more annoying things on the web is actually incredibly beneficial to the future of humanity. I am talking about reCAPTCHA, the annoying form field you need to fill out every time you are creating an account on a website or making an online purchase. I can’t tell you how many times I didn’t get the word right and then had to re enter it repeatedly until I switched to the sound option, only to realize that I couldn’t quite hear it properly either. It turns out that I am not the only one who has had trouble with it, as some Aussies have gone so far as to launch a petition to kill CAPTCHA.
So you’ve got a product idea and your concept development and testing went better than expected. Before you get overexcited and start your full fledge production you will need to do a few more steps in order to ensure that your product is going be successful in the market.
In the previous new product development (NPD) chapters we discussed the process of idea generation and screening. Now I will elaborate a process of creating a prototype called Concept Development & Testing phase.
On a recent flight from Panama I encountered three instances of what can be viewed as a false advertising. All three companies, United Airlines, Jugo Juice and Nature Juice were reputable businesses and I am sure their intention wasn’t to appear dishonest. I will first tell you what happened and then we will discuss how these issues can be avoided by being authentic.
Businesses of any size will create products with IP embedded in them, and considering the IP-related issues at the appropriate times in product development will benefit the business.