Incremental Innovation

Briefly discuss the negatives of Incremental Innovation:

*Incremental innovations are the next logical step in keeping products up to date.

*Incremental innovation is closer and only in one direction, which is usually cosmetic

*With incremental innovation you are always “trying to keep up” with competitors. In a time where brand loyalty is measured in months and not years, competitors are coming out of the woodwork with identical products slightly altered packages, do we just want to stay ‘one step ahead”?

*On average firms that invest in incremental innovation are successful in 1 out of 3 projects and invest 7.14% of their net sales into these innovation activities. These results confirm the nature of this innovation type, widely used as sustaining competitive move, which helps the firms to enrich existing products or processes with new features without much risk. (1)

Start my intro into Breakthrough Innovation.

SO ARE SMALL COSMETIC CHANGES TO PRODUCT PACKAGES AND CONTAINER SHAPES AND SIZES,,, TO KEEP UP WITH THE COMPETITION, REALLY A SUPERIOR APPROACH TO INNOVATION. I WOULD ARGUE NO!!!!!

In fact I would argue that the superior approach to innovation is Breakthrough innovation.

Breakthrough innovation is the innovation and creation of new products that create new markets. Breakthrough innovations are revolutionary changes to firms, markets and industries that provide substantially higher customer benefits relative to current products in the industry. (1)

Products like the IPod, IPad and Mr Clean magic eraser. These are products that never had a predecessor, never had anything remotely close to them in the past and now you can’t imagine your life without them. These products are often developed without consumer input or suggestion. Breakthrough innovation isn’t about analyzing customer needs, creating specifications to meet each need, and building great products and services to meet them, it’s about creating a product the customer didn’t...