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The Crucial Role of Domain Knowledge in Evaluating Early-Stage New Product Ideas

Florian Denker

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Springer Fachmedien Wiesbaden img Link Publisher

Sozialwissenschaften, Recht, Wirtschaft / Management

Beschreibung

Florian Denker explores the role of an individual’s domain knowledge for the proficient evaluation of early-stage new product ideas in the front-end of innovation. The results of his study show that in order to ensure an effective evaluation, evaluators of early-stage new product ideas should have comprehensive knowledge of consumers’ needs and wants, as well as distinct knowledge about the opportunities and limits of available technologies in the respective domain. In this context, the results show that not only firm-internal experts can have this knowledge. Users and, in particular, so-called "lead users" (i.e. users who are ahead of the majority on major market trends and innovations), could also be suitable for effectively evaluating early-stage new product ideas.

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Schlagwörter

Domain Knowledge in Evaluating Early-Stage New Product Ideas, Idea selection, Innovation process, Product development, Front end of innovation, Idea evaluation