Updated: Feb 11
Perception of Value
Possibly the most important aspect of product development is in understanding how our customers perceive value from the products that they purchase or to which they subscribe. This 20-minute video discusses various dimension of value perception.
Crossing the Chasm
Discusses customer personality types, and notes that the success of a product is not entirely based on the features & functionality of that product.
Here is an interesting academic article on technology adoption curves, claiming that the modern curve is not bell-shaped, but is more front-loaded, reflecting the willingness of digital natives to adopt technology.
Failure Framework #1 Defining Disruption
Impactful innovations (like Uber) are not necessarily "disruptive" (according to Christensen). Disruptive innovations enter from the bottom of the market, with previously underserved customers. Case study of Seagate Drives and IBM.
Failure Framework #2 Oversupply of Performance
Technology is increasing at a pace faster than customers can absorb, leaving room at the bottom of the market for disruptive competitors. Case study of the big steel mills (e.g., US Steel) who went bankrupt in the 1980's, as they failed to see the threat from mini-mills (e.g., Nucor).
Oversupply of Performance in Higher Education
IMO (and I am not alone) higher education in the US is now oversupplying performance, and is not supplying what employers need in a new workforce. Discusses student loan debt.
Failure Framework #3 Culture's do not want to Innovate
Doing what we're currently doing is a whole lot easier than doing something new, even if what we're doing is no longer providing value. Change is literally painful.
Christensen on Disruption
Here is a 2 minute video on Disruption from The Christensen Institute.
And another on market-creating innovations (as opposed to efficiency or sustaining innovations):
Innovations play a critical role in building strong, robust economies. But for low- and middle-income countries—or what we like to call growth economies—which innovations are most effective at laying the foundation for sustainable development?
In this video, we unpack three different types of innovation and explain why one particular type of innovation—market-creating innovation—has a disproportionate impact on the development of a region.