general knowledge
Key terms
Term
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Definition
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Invention
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A radical change in manufacturing, materials technology.
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Innovation
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Incremental change in manufacturing, materials technology.
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Novel Product
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Invention (new) which is unusual to existing products
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Robust Design
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A flexible design which adapts to changing technologies and markets |
Product family
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Group of products with standard classification criteria (parts, aesthetics, and branding), usually from the same company
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Market Analysis
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The economic viability of a proposed design. Looking at viable costs, pricing, and essential.
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Market Sector
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A way of characterizing the markets
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Market Segmentation
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Dividing the market sector to specific groups of buyers (target audience)
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Target Market
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The people that buy your products
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Target Audience
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The people that consume your products
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User Need
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Stakeholders in invention and innovation
Term
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Definition
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Lone Inventor
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An individual creator who is not part of a company and is working on a novel product
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Product champion
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Individual within a company that supports ideas
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Investor
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financial backer |
Entrepreneur
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An influential individual who brings insights into the market
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Diffusion and Suppression
Diffusion
This is when a new design gets accepted by the market as if it’s always has been there.
![Image result for Tesla 3](https://hips.hearstapps.com/hmg-prod.s3.amazonaws.com/images/2019-tesla-model-3-101-1574807022.jpg?crop=0.609xw:0.743xh;0.0769xw,0.257xh&resize=640:*)
Suppression
Suppression is when an idea is slowed down by the market as it has the potential of beating the competition
Invention
Drivers
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The will to express one’s creativity or personal interest
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Scientific/technological curiosity
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Constructive discontent with current products
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A desire to make money
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A desire to help others
![Image result for drone health africa](https://static.wixstatic.com/media/86ce73_630cc6497cd84ca5a95eae54a7daac78.jpg/v1/fill/w_1960,h_1002,al_c,q_90,usm_0.66_1.00_0.01/86ce73_630cc6497cd84ca5a95eae54a7daac78.webp)
Intellectual Property
IP - a creation of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce. (from The World Intellectual Property Organisation)
Term
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Sign
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Definition
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Patent
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N/A
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It provides the owner with the right to prevent copying, manufacturing, selling, or importing without permission.
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Copyright
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©
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This protects the rights of artists and authors. This covers a wide range of products.
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Trademark
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™
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A mark on a design (ex. name) which shows authenticity and protects the owner.
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Servicemark
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℠
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Registered Trademark
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®
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![Image result for dyson inivation](https://strategywanted.files.wordpress.com/2010/06/dyson.png)
Global Strategies
Term
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Definition
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Market Penetration
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Increasing sales to existing customers / finding new customers for an old product
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Market Development
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New applications for existing products
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Product Development
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Renewing products mainly for existing customers
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Diversification
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A company diversifying its family of products into other market sectors
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![Apple timeline infographic shows major product releases and their impact on share price](https://blogs.thomsonreuters.com/answerson/wp-content/uploads/sites/3/2016/05/apple-timeline-graphic-690x451.png)
Innovation
Categories
Sustaining Innovation
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Disruptive Innovation
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Process Innovation
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Meets consumer’s needs while supporting manufacturers
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Challenges current technologies, setting a new standard for the market
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Reorganization of the manufacturing process which may lead to reduced costs/benefits for consumers
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Innovation Strategies for Design
Architectural Innovation
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Modular Innovation
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Configurational Innovation
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Configuration of components to produce a new design
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The ability to change critical elements, while the basic configuration stays the same
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The combination of technological innovation and reorganization of components
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Moving the power button from top to side (phone) |
Improvements to the cameras (phone) |
The galaxy fold |
Strategies for Innovation
Strategy
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Definition
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Example
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Adaptation
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Adaptation of a physical solution from one context to another
|
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Technology transfer
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Transfer of advancements in technology from one context to another
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Analogy
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Transfer of an idea from one context to another
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Act of insight
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When an idea/solution comes suddenly, “eureka moment.”
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Chance
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An unexpected discovery, leading to a new idea
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Technology push
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When manufacturers/designers create the demand for the market
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Market pull
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When the market creates the demand for a new product
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Stakeholders in Innovation and Design
Stakeholder |
Roles |
Example |
Product Champion |
- See's Value within the product
- Develop the product through all stages
- Keep the product in the consumer's mind.
|
Elon Musk, Steve Jobs, etc |
Entrepreneur |
- Takes on the financial risk
-
|
|
![Image result for apple airpods](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fs3-ap-northeast-1.amazonaws.com%2Fpsh-ex-ftnikkei-3937bb4%2Fimages%2F0%2F4%2F6%2F4%2F21734640-1-eng-GB%2FIMG_6306%20%E3%81%AE%E3%82%B3%E3%83%94%E3%83%BC.jpg?source=nar-cms)
Roger’s characteristics of innovation and consumers
Factors affecting the adoption of an innovation
Characteristic
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Definition
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Example
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Relative advantage
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The extent to which the innovation has an advantage over the previous ones
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Compatibility
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Consistency with current design interfaces and needs of the market/audience
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Complexity
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How easy or hard it is to use the product
|
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Trialability
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How easy it is to experiment with the market/audience
|
|
![Image result for Concepts oneplus](https://i.ytimg.com/vi/KiCmKErEMWw/maxresdefault.jpg)
Category of consumers
Consumer |
Definition |
Example
|
Innovators |
The risk-takers that adopt the innovation as soon as it becomes available (introduction) |
Designers or the manufacturers themselves |
Early Adopters |
The first wave of the consumers which add a product as soon as it comes out |
YouTubers or dedicated fans of technology |
Early Majority
|
More careful technology adopters which wait for feedback before purchasing a product |
The youth, anyone who would watch the YouTubers |
Late Majority
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Adopters that wait for a product toe established in the marketplace |
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Laggards |
Late adopters which often wait for the product to decrease in price |
|
![Image result for pebble smartwatch](https://o.aolcdn.com/images/dims?thumbnail=1200%2C630&quality=80&image_uri=https%3A%2F%2Fwww.blogcdn.com%2Fwww.engadget.com%2Fmedia%2F2013%2F01%2Fpebble2f0a6577.jpg&client=amp-blogside-v2&signature=8c406d5476d5259a0f54af6650d58f7bb6b00036)
Product life cycle
![](https://ibrecap.com/images/user_images/imagetools01554099296.jpg)
Term
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Definition
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Example
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Introduction (Launch)
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Introduction of product to the market; high price, little profit, slow sales.
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Apple Launch event, Advertisements, Galaxy Fold
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Growth
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Diffusion into the market; lowered price, increasing sales and profit
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Electric Cars in 2020,
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Maturity
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Full acceptance of a product; medium cost, high profit, peak in sales
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Smartphones
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Decline
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Market saturation; reduction of sales and profit, leading to lower price
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Desktop Computers, Burner Phones
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Sometimes things break the Product life cycle like this abomination (Supreme Burner Phone circa 2019):
![Image result for surprime phone](https://cdn.vox-cdn.com/thumbor/2DwjHnVHcKnBN5Tby-acZRuElH4=/0x0:2160x1440/1200x800/filters:focal(908x548:1252x892)/cdn.vox-cdn.com/uploads/chorus_image/image/65042649/supreme_feature_phone.0.jpg)
Obsolescence
Obsolescence is when an object becomes no longer wanted due to improvements in other products or no longer relevant.
Variation
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Definition
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Planned
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An object purposefully becomes obsolete by gets replaced by the newer version of the same product from the same company.
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Built-In
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An object purposefully becomes obsolete by breaking down over a certain amount of time.
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Fashion
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As the name implies, it follows current trends and becomes undesirable after the style or fashion becomes outdated.
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Functional
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Mechanical properties breakdown and therefore become obsolete. |
Technological
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New technology dramatically surpasses an existing one, rendering the old one undesirable (similar to Planned).
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![Image result for planned obsolescence](https://miro.medium.com/max/4028/1*9OvIKdP0EE-_AmBJA0_a7g.jpeg)
Editors- admin_andrei - 866 words.
- CD_FER - 230 words.
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