Mark Generation Essays

Mark Generation Essays Mark Generation Essay Mark Generation Essay The Generation of New Ideas In most cases, companies consider the opinions, wants and needs of their target consumers in order to generate new ideas and concepts. In fact, companies may simply ask themselves What do customers want now and in the near future? Sampson (1974), studied the effectiveness of consumers in generating ideas, concluding that they can produce productive concepts and their influence is essentially passive (Cannon 1978, p. 229). Despite this, Sampson goes on to state that u to the rapidly growing markets, it is nearly impossible to satisfy all members of a consumer group. Amongst a range of generation idea methods, one external technique is the use of focus group methods which consists of an assembled group of consumers who have no knowledge about a particular type of product. An analyst records the two hour long discussion and identifies what has and has not been conversed (Hippie 1986, p. 793). This method of customer feedback, crucially relies on the analysts ability to accurately infer useful information which may then translate into a new product concept. Specifically, Subscribe offers customers the opportunity to leave suggestions or compliments about their products in which the business takes very seriously and then utilizes the information to generate product ideas. The manipulation of lead edge users is yet, another course of action business can adopt in order to produce original ideas. Lead edge users are users of a product whose current needs will become common in the near future (Hippie 1986, p. 791). They are significant as they act as a forecast for marketing research providing valuable information about consumers impressions and partiality of a product. Von Hippie (1986) introduced the external four-step Lead User Method in 1986, to help companies develop breakthrough products. The steps consist of, Identifying an Important Trend: to identify lead users in different product categories of interest and to identify the trend that these users have a leading position, Identifying Lead Users: once trends are discovered with new product opportunities, companies then can egging the search for lead users, Analyzing Lead User Data: Data received from lead users will then be utilized in market research analyses, and Projecting Lead User Data onto the General Market of Interest: after data has been finalized, it would be projected onto a predicted market (Kaolin, 2010). Although Internal idea sources include Research and Development, Subscribe mainly uses external sources such as consumer evaluation through the use of the feedback option which can be found on every page of the Subscribe website. This allows consumers to leave a compliment, advise of any technical issues, and suggest potential product ideas. Since the introduction of the feedback option, consumers nave expressed Innovative Ideas wanly nave Eden Tallow tongue Ana Is evident through the Subscribe Wonder]sock. Its design of underwear separates and lifts Protruding everything out in front Providing maximum comfort (Tracey 2006) thus demonstrating the power of consumers and their feedback which can translate into successfully generated product ideas and consequently, profitable manufactured products.