IoT & the Innovation Gap

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Jacob
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New Products for Marketing
Jacob   6/12/2014 3:37:28 AM
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"Scientists working in research and development at large firms are at the forefront of some of the best ideas for wearable technology, smart technology, and the Internet of Things. Before those ideas can be brought to life, however, they're running up against corporate finance teams asking what the return on investment will be."

Christian, for any business ROI is important for their sustainability. But when they are venturing in to new domain or with new products they have to bear some sort of risks. If a product is first time marketing, they can do some market surveys or demand survey to know the life or existence of such products. I think marketing companies will do all sort of such things before they venturing into marketing.

Wale Bakare
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Re: New Products for Marketing
Wale Bakare   6/13/2014 3:39:44 AM
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>>I think marketing companies will do all sort of such things before they venturing into marketing<<

I agree with you. What about time to market?

Jacob
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Re: New Products for Marketing
Jacob   6/16/2014 12:06:32 AM
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"I agree with you. What about time to market?"

Wale, time depends up on various factors like size of the product, cost, competitors and targeting segments. If it's an essential product for day to day life, then marketing time will be less (example- Grocery, kitchen utensils etc). Those who are targeting companies or non essential items have a more waiting period.

Wale Bakare
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Re: New Products for Marketing
Wale Bakare   6/16/2014 4:49:31 AM
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Surely internet remains pivotal to technology development as we are expecting lots of innovations in years ahead. But, issue like intellectual property rights (IPR) could be another aspect to look at.

Jacob
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Re: New Products for Marketing
Jacob   6/18/2014 1:16:34 AM
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"Surely internet remains pivotal to technology development as we are expecting lots of innovations in years ahead. But, issue like intellectual property rights (IPR) could be another aspect to look at."

Wale, protecting the IPR is a big concern.

Hailey Lynne McKeefry
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Re: So, the solution
Hailey Lynne McKeefry   6/16/2014 7:33:48 PM
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@Rich, the DIY community is a powerful source of innovation and these folks are often doing this out of interest. I totally think that it's a great thing to reward them with a way to underwrite their hobby. Newark has a great track record of supporting designers with these contests... mainly because the vouchers are a small part of it. It's also a way for these folks to get attention and support.

Hailey Lynne McKeefry
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Innovation and Time to market
Hailey Lynne McKeefry   6/16/2014 7:35:11 PM
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I think that smart organizations are willing to take calculated risks. The best examples in the industry of innovation are those companies that are willing to step outside of what's always been done into a new realm. Before the iPad, for example, no one really thought they needed one. THe ROI potential at the outset was abysmal.

docdivakar
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Re: IoT & the Innovation Gap
docdivakar   6/17/2014 1:18:21 PM
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Regarding the statement "A time traveler from the 1950s would still be able to navigate through a kitchen today with relative ease and operate an oven, coffee maker, and microwave," it is not the risk-averse nature of businesses, it is rather that many of these appliances / products have reached the crest of their design & optimization and there is very little fundamentally than can be innovative. So a kitchen microwave with its own WiFi connection doesn't appeal to many product designers and engineers as the next hot thing to work on!

I do believe there are fundamental, game-changing innovations underway for I-o-T devices -in lower power SoC's, energy scavenging and power management.

MP Divakar

Hailey Lynne McKeefry
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Re: IoT & the Innovation Gap
Hailey Lynne McKeefry   6/17/2014 4:57:39 PM
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@Docdivakar, I'm not sure that we've really hit the crest of innovation for our favorite appliances. To me, innovation is all about breaking through the assumption that we are done. Last month, I saw a new toaster that is made of glass and semiconductors embedded within the glass heat and toast the bread...or even roast the steak. It's app enabled and has IoT written all over it.  Read more: http://www.digitaltrends.com/home/beyond-bread-amazing-glass-toaster-can-cook-steak/#!0fe2X

bugatti noun toaster



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