So many people s fortunes these days are tied to knowing how to value the potential success of new products but no one can really agree on how to do it, especially with huge new products, such as Google Glass. In" Innovation Equity," Ofek, Muller, and Libai bring to light an enormous body of academic scholarship that analyzes how past innovations have behaved in the marketplace and identifies patterns in how consumers adopt new innovations. To this, they add another stream of research in marketing on how companies manage ...
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So many people s fortunes these days are tied to knowing how to value the potential success of new products but no one can really agree on how to do it, especially with huge new products, such as Google Glass. In" Innovation Equity," Ofek, Muller, and Libai bring to light an enormous body of academic scholarship that analyzes how past innovations have behaved in the marketplace and identifies patterns in how consumers adopt new innovations. To this, they add another stream of research in marketing on how companies manage their customer base: through attracting positive customers, keeping them satisfied, and keeping them from being lured away. This research has also produced models that powerfully predict how consumers behave in the market. "Innovation Equity" shows how to apply these frameworks of customer management and authoritatively view and value the new customers as long-term assets. This provides both a much more concrete way to estimate the potential value of new products as well as the very framework to make it possible to achieve that value. "Innovation Equity" is an essential resource to anyone in business with a need to estimate the value of new products."
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