Follow Your Instincts. Improve Your Business.

March 2, 2012 in Culture, Ideas, Thought Leaders

Gerd Gigerenzer, a German social psychologist and pioneer in the study of intuitive thinking, has shown that when we use gut reactions to deal with complex choices, they’re usually as good—if not better—than detailed analysis.

Gigerenzer’s findings were mainly focused on rational thinking in the field of medicine. However, his experiment results are widely applicable to many areas of business, including product development and innovative marketing strategies.

Gut reactions help on the development end:

• To conserve resources. If less time is spent on each problem, think of what can be accomplished.

• To utilize brainstorming sessions. Feeding off of the input of others can produce quick decisions of a higher quality.

Gut reactions help on the marketing end:

• To benefit from the impulsive nature of consumers. If their guts tell them they need it now, you and your company benefit.

• To catch the market while it’s hot. Get your product noticed before its primary marketing niche has the chance to dwindle.

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The Master of Innovation Speaks: Apple on Apple

January 24, 2012 in Critical Success Factors, Customer Behavior, Ideas, Product/Market Fit

The June 9, 2007 issue of the Economist ran an article titled “How does Apple do it?” After many had left it for dead a decade ago, this is the company that sets the pace in the consumer electronics industry. The article highlighted two main development strategies: First, Apple looks both within and outside its walls for new product ideas, an approach referred to as “network innovation.” The iPod, a notable example, was the brainchild of a consultant that Apple hired to run a project; not an employee. Second, Apple is obsessed about looking at new concepts through the eyes of its customers. Everybody gives testament to the importance of this commitment, but few live it. “If we build it they will come” is a sure path to failure.

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Innovation Has Moved Social

October 5, 2011 in Culture, Ideas, Innovation, Product/Market Fit

Carl Shirky explains the migration of human conversations from the printing press, to telephones, to RF broadcast, to the Internet. The result is all the previous media forms move to the Internet and become ubiquitous and cheap. The media has become so cheap and accessible, everyone becomes producers of media content — and always connected to everyone. In the world of innovation, this access to anyone or anything, anytime, anywhere, using any device enables innovation to occur everywhere, all the time. Product development can tap into this stream of innovation by establishing the infrastructure to listen to the conversation and “detect” value.

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