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Essay / Research Paper Abstract
This 8 page paper considers why and how innovation will not automatically lead to commercial success. The paper looks at the different potential areas of failure at the development stages before and after the product gets to market. The different types of failure are examined and many real life examples are given to illustrate the points raised. The bibliography cites 11 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEinovasuc.rtf
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Unformatted sample text from the term paper:
can be brought to market and create a profit. This is seen in all industries, the best known may be the drug industries, where the development and then patenting of
a drug that can be brought successfully to market can make a company millions. Examples include drugs such as Viagra which have seen a large level of return prior to
the patents running out. The same has been seen in many other industries, Sonys development of the Walkman resulted in a major market success, just as Apples iPod has been
very successful, both have seen emulators, but they have benefited from their innovation but the companies gained a first mover advantage. However,
not all innovation have resulted in commercial success for the company or individual the developed them. One example of this is Sonys betamax video system. Sony lost out to a
competing, but technical inferior VHS system (Thompson, 2005). There are may other innovation that have not resulted in commercial success for their developers. If we look to the automotive industry
and good example is the concept of a four wheel drive vehicle was seen at first developed 1924, and 70 years later in 1994 it is only limited availability, but
today they are fairly common (Mazzucato, 2002). These different examples indicate some of the reasons why innovation will not always lead to
corporate commercial success. These barriers may be the ability to develop the product t a stage needed for market, the inability to market or distribute a product, inferior marketing to
competing products or a lack of demand or immature market not year ready for a product. These are some, but not all of the barriers new innovations may have to
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