Product Innovation

Product Innovation

Product Innovation Jonathan Poland

Product innovation refers to the development and introduction of a product or service that significantly improves upon existing offerings, often by a factor of 10x or more. While many products are developed to stand out in a crowded market, product innovation may aim to completely disrupt the market and replace existing products with something new. This type of innovation is rare and can be challenging to achieve, as it requires a significant level of creativity and innovation. The following are common types of product innovation.

Reducing time consumption including things that improve productivity or represent a customer convenience. For example, software that reduces the time for an interior decorator to produce a floor plan.

Reducing the inputs required to achieve a goal. For example, it currently costs around $50,000 a pound to launch things into orbit. It is believed that this can be reduced considerably.

Reducing the cost of products and services. For example, the cost per watt of solar panel modules dropped from around $75 in 1974 to less than $0.50 by 2020.

The performance of products and services as measured by a figure of merit. For example, the speed of computers has roughly doubled every two years since 1975.

Leaps forward in the quality of products in areas such as availability, durability and reliability.

The product experience including intangible elements such as concepts, feelings, taste, sight, sound, touch and smell.

Reducing risks such as improving the safety or sustainability of products.

Learn More
Real Estate Investing Jonathan Poland

Real Estate Investing

Real estate investing refers to the process of buying, owning, managing, and selling real estate properties for the purpose of…

Vertical Integration Jonathan Poland

Vertical Integration

Vertical integration is when a single company owns multiple levels or all of its supply chain.

Business Capability Jonathan Poland

Business Capability

A business capability is a broad term that refers to the things that a business is able to do or…

Research Topics Jonathan Poland

Research Topics

Research topics are the subjects that are chosen for study, investigation, and analysis in a research project. When choosing a…

The GSA Process 150 150 Jonathan Poland

The GSA Process

The General Services Administration (GSA) is an independent agency of the United States government responsible for managing and supporting the…

Quality Management Jonathan Poland

Quality Management

Quality management is a process that ensures products and services meet certain standards of quality before they are released to…

Business Strategy Examples Jonathan Poland

Business Strategy Examples

A business strategy refers to a long-term plan that outlines the future direction of a company and how it will…

Operating Model Jonathan Poland

Operating Model

An operating model is a framework that outlines how a business operates. It typically covers how a business produces and…

Capability Analysis Jonathan Poland

Capability Analysis

Capability analysis is the process of evaluating the capabilities of an organization, system, or process in order to identify its…

Search →

There are two ways

to work with me…

for business

Key Bridge

“A platform for building better assets…”

for investing

Wall Street Pig

“Unfiltered commentary across the capital markets…”