Innovation : Myths And Mythstakes, 1/e PB

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Consumers are embracing change and adopting new products and services earlier and faster than ever. The need for your company to innovate is constant, and if you don't, your competitors will. This book provides the insight into the secrets to reducing risks while creating game-changing ideas. It will set the record straight, while helping you acquire valuable insights into your customer. Ideas are easy; innovation is hard. Some of the myths this book addresses: *80% of new products fail (False) * The Consumer is King (Balderdash) *Brainstorming works! (Not in a million years) * Great ideas will make you rich (Guess again!) * Facts persuade People to buy (Nonsense)

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Tim is CEO and Chairman of WonderGroup, and its Insights & Innovation division, LaunchForce. He has worked on a wide range of consumer and professional personal and health care marketing and research assignments across many different brands and product categories. Tim’s first exposure to youth marketing came while he was in brand management for Procter & Gamble when he had the good fortune to bring Hawaiian Punch and "Punchy" back to the kids of America. He also helped launch Sunny Delight, inventing the miniature-sized bottles that help put this brand in kids’ lunch boxes everywhere. Tim has helped such companies as Borden, Nestlé, Tyson, Perdue, ConAgra, Heinz, Johnson & Johnson and Kellogg’s launch many of the most successful kid products in the marketplace. Tim has discussed youth marketing in such media as CNN and MSNBC, the International Herald Tribune and countless of other newspapers and magazines as well as having published the first study on permissive/restirictive parenting segments in the International Journal of Marketing Research. He, along with his partners Dave and Greg has co-authored two youth-marketing books: The Great Tween Buying Machine & Marketing to the New SuperConsumer. Table of Contents The Afterword (find out why this comes first) • The Situation (the times sure are a changin') • Myth #1 80 percent of all new products fail! • Myth #2 The ROI on innovation is terrible. • Myth #3 Don t bother unless it s perfect. • Myth #4 When it comes to investment in R&D, size matters. • Myth #5 The best innovations come from following trends. • Myth #6 To successfully innovate, you must deeply understand and Listen to the consumer (a.k.a. The Consumer Is King). • Myth #7 There is a secret on how to be creative. • Myth #8 When looking for insights, focus groups are best staffed by fresh consumers. • Myth #9 Only right brainers are creative. • Myth #10 Brainstorming works. • Myth #11 Crowdsourcing delivers great ideas on the cheap. • Myth #12 There is no such thing as a bad idea. • Myth #13 Great Ideas will make you rich. • Myth #14 A great idea speaks for itself. • Myth #15 It is more important to be liked than to be unique. • Myth #16 Build a better mousetrap and the world will beat a path to your door. • Myth #17 There s no such thing as too much innovation. • Myth #18 Concept testing is a great way to minimize risk. • Myth #19 Facts convince people to buy. • Myth #20 BASES testing will show the way. • Myth #21 It s not worth doing if it s not invented here. • Myth #22 R&D should lead the way. • Myth #23 You don t need a process to innovate. • Myth #24 Stick with the plan, no matter what. • Myth #25 Innovation means never looking back. • Myth #26 You have to please your audience. • Myth #27 We ll innovate when we need to. • References • Innovator's Index