Life Cycle Thinking The Locus Research blog about sustainability, applied research, design and education.
Four P's of Innovation
The Four P's of Innovation
Scott Anthony has written a nice succint article on the Harvard Business Revew entitled 'The 4 P's of Innovation'. Having recently been through the development of a full investment proposal I appreciate the simplicity of the idea, cutting through the wades of spreadsheets to say 'Is this a good idea or not?'. The simple 4P's to evaluate an idea's potential:
Population: what is the targeted population and is it a large enough market?
Penetration: how easy is it to penetrate the market?
Price (and profit margin): what is the relative price and margin in the product
Purchase frequency: what is the purchase cycle of the product?
The simplicity of the calculation may well lay on top of a hefty amount of research and understanding, but perhaps could be done iteratively to work out whether something is initially workable and then refine the assumptions and level of detail.
Timothy Allan is the Managing Director of Locus Research. He brings more than a decade of sustainable product development in the commercial domain to the team, along with a proven ability to lead technology oriented product development projects and diversified design teams.
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