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Customer Value
↘
Inadequate understanding of
customers needs and wants;
market size and customer buying
patterns are not adequately
researched
↘
Inadequate understanding of
competition
↘
Inadequate prototype testing,
product performance testing and
market testing
Technology and Process
↘
Invention, not customers and
their needs, come first;
research capabilities are used
to come up with unique products,
instead of creating unique
customer value
↘
Lack of a well defined
cross-functional new product
strategy; insufficient
involvement of critical
departments during the
development and launch of the
product.
↘
Lack of institutionalized
innovation process and effective
monitoring and measurement
criteria
Organization and People
↘
Lack of energized and energizing
innovation leaders; concerns
about management's real
commitment to new products
↘
Poor employee motivation;
unclear career path for new
product personnel; insufficient
inspiration and incentives to
encourage risk taking; unclear
assignment of ultimate new
product responsibility
↘
Cross-functional teams are weak
or insufficiently
empowered
Marketing and Selling
↘
Build-it-and-they-will-come
attitude
↘
Product
differentiation and
positioning
are weak
↘
The product launch is not
supported by adequate marketing
initiatives and resources
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