When innovators try to envision how people will use their product they often have different ideas on what people want. Products that are of superior technology may fail and inferior succeed, only because the inferior product has some features that people are looking for.
In this lecture we look at how new products or technologies get adopted my markets. We look at the Law of Diffusion of Innovation, which explains how this adoption happens. We also look at what it takes for a new innovation to move from being a visionary idea to a practical product, or crossing the chasm. Finally we explore the hype cycle.
In this lecture we look at how innovation happens. We look at the slow hunch, the liquid network, and serendipity.
Sustaining Technology – Evolutionary
An innovation that improves a
product in an existing market in
ways that customers are
Red Oceans - commodities
Sustaining Technology – Revolutionary
An innovation that creates a new
market by allowing customers to
solve a problem in a radically new
May not be affordable enough to be
An innovation that creates a new (an
unexpected) market by applying a
different set of values.
Affordable so the impact is major
The Slow Hunch
A lot of ideas linger on,
sometimes for decades,
in the back of people’s
Douglas Englebart 1965 Apple Macintosh 1984
Any technology that is going to have significant
impact over the next 10 years is already at
least 10 years old
The 10/10 Rule
The 10/10 Rule
10 years to build a new
platform, 10 years for it
to be adopted
What do the following products have in common?