Innovation equity
Subtitle: assessing and managing the monetary value of new products and services
By: Elie Ofek, Eitan Muller, and Barak Libai
Contributors: Muller, Eitan, author; Libai, Barak, author
Publisher: The University of Chicago Press
Published: 2016
Language: eng
Number of pages: 336
ISBN-13: 9780226618296
Subjects: Diffusion of innovations; Econometric models; New products; Prices; Marketing; Technological innovations; Economic aspects
Description: From drones to wearable technology to Hyperloop pods that can potentially travel more than seven hundred miles per hour, we're fascinated with new products and technologies that seem to come straight out of science fiction. But, innovations are not only fascinating, they're polarizing, as, all too quickly, skepticism regarding their commercial viability starts to creep in. And while fortunes depend on people's ability to properly assess their prospects for success, no one can really agree on how to do it, especially for truly radical new products and services. In Innovation Equity, Elie Ofek, Eitan Muller, and Barak Libai analyze how a vast array of past innovations performed in the marketplace--from their launch to the moment they became everyday products to the phase where consumers moved on to the "next big thing." They identify key patterns in how consumers adopt innovations and integrate these with marketing scholarship on how companies manage their customer base by attracting new customers, keeping current customers satisfied, and preventing customers from switching to competitors' products and services. In doing so, the authors produce concrete models that powerfully predict how the marketplace will respond to innovations, providing a much more authoritative way to estimate their potential monetary value, as well as a framework for making it possible to achieve that value.
Notes: Includes bibliographical references and index.
Table of contents: title: The basic diffusion pattern of an innovation; title: The whole is bigger than the sum of its (diffusion and customer lifetime value) parts; title: Don't just stand there : do something! growing innovation equity through marketing actions; title: Foreseeing bumps and potholes along the diffusion road; title: Jumpstarting stalled adoption : getting the mainstream to take the plunge; title: Survival in the presence of a rival : valuing innovations at the brand level; title: Leaping ahead to valuing the next generation; title: Innovation equity makes the world go 'round; title: Making the framework "work" for you; title: Appendix : Math and more.