The best idea is worthless, if it is not implemented.
Chapter nine will discuss the section about implementation.
implementation is the first sale of a marketable product or service on a
market. I try to explain it with my own words, because the book do not offers
the whole coverage for a successful implantation. However, the implementation
is the first phase of the product / service lifecycle associated with the
highest market risk, preceded by market analysis of existing market data,
market potential, and market developments. According to advertiser Bernd Kreutz,
there are the market phases of marketability, market launch, market growth,
market decline, and maturity stage.
the same time, the market implementation represents the last phase of the
previous innovation process. Market introduction is the constituent feature of
an innovation. The innovation process involves more or less intensive company
research and development for the purpose of product or financial innovation.
The resulting research and development costs can only be recovered after the
market launch through sales revenues (payback period). Advertising campaigns establish
/ increase the level of awareness and they can also begin even before the
market implementation, adding to the curiosity of the potential buyers. The
in-house product testing of prototypes may be supplemented by market testing in
a test market with selected reference customers.
a temporal perspective is emphasized (Scheduling). Market introduction can
therefore be seen as a (last) phase of the innovation process or as a (first)
phase of the product life cycle. The time of market implementation also plays a
key role in the success of the product. For example, it does not make sense to
introduce a new winter jacket to the market in spring, as the demand for this
product is unlikely to be strong at this time of the year. I hope was able to
summarize all relevant things for a market implementation.