Predicting Word of Mouth for New Product Innovations

This paper explores the relationship between a customer’s perceptions of a new product to their actual behavior regarding word of mouth. Multiple studies were starting in 2010 with the intention of creating a model that could predict a product’s ability to generate word-of-mouth sales. During this time product uniqueness was identified as a primary driver of word of mouth. In addition to uniqueness, using the respondents’ estimate of how many people think they would tell and discounting for their spontaneousness a model was developed. In 2011 a final study was done to validate the previous model with a larger sample. This paper is focused on this final study where respondents did both the pre and post-survey 3 weeks apart.

Innovation Fundamentals Training Direct ROI

This paper explores the impact of an employee’s innovation training on their company. Over 3,000 students have taken the Innovation Engineering Fundamentals Course at universities, in-person training, and the current online version of the course for companies. This study evaluates the past 7 certified students who completed the online training on behalf of their company. To earn their certification each student had to complete a project and apply the skills they learned during the course. These projects each have their own project value to their company. Project values can be potential new revenue, cost savings, or a combination of both.

3 Simple Principles for thinking About innovation Training

Over the past decade, the we have been experimenting, failing, and pouring over the academic research to find the most reliable methods for transforming an organization’s culture to one that embraces and practices innovation.

What we’ve learned is that the transformation can be achieved with three simple principles in mind: autonomy for your employees to opt in, the opportunity to apply a new skill set and mindset, and a sense of belonging to something greater than a job or silo. But, what does that mean?  Download the e-book and find out!

About the Author:

Maggie Pfeifer is Director of Education at the Innovation Engineering Institute and Eureka! Ranch. She has fearlessly lead and taught 1000s of students around the world the best practices for innovation and applying systems thinking to their lives and organizations.

She’s also co-stared on Backyard Inventors, a Canadian program aimed at helping independent entrepreneurs commercialize their innovations.

One of the Best Places to Work

Innovation Success, Strategy, and Systems for a Better Place to Work.

Innovation is a more profitable strategy for growth when compared to popular alternatives such as “voice of the customer”, “quality”, “quick delivery” and especially “low cost”. But how does innovation relate to the companies culture and employee retainment? This paper explores the relationship between companies that are ‘best places to work’ and the company’s culture, strategy, systems, and success with innovation. 

Greg Lemmon concludes that companies looking to improve their culture, employee engagement, and employee retainment should look at their success with innovation and consider prioritizing ideas that are radical and leading the marketplace over ideas that are reactive and following what others have already proven successful.

Why Merwyn Simulated Test Marketing
Helps You Make Smarter Business Development Decisions

Merwyn is a revolutionary approach to business development decision-making. However, the elements that drive success with Merwyn and the Marketplace, are ageless. To win, managers must develop bold, customer-driven concepts and communicate them with outstanding overtness, clarity and focus.

The purpose of this paper is to provide our rationale regarding the system’s pedigree and, more importantly, how it is that Merwyn can be more predictive of actual marketplace results than classic concept testing.

Merwyn Truth Teller: The World’s Most Truthful System For Early Stage Innovation Sales Forecasting

Merwyn Truth Teller (MTT) is an innovation decision support tool. It provides an honest assessment of the true uncertainty, risk and rewards associated with an innovation at the current moment in time. It does this by modeling the most likely value and the uncertainty associated with each sales forecasting input.

Psychological Drivers of Business Technology Innovation

This academic article outlines, with empirical evidence, what drives innovation success.  Thanks to years of measurement by the Eureka! Ranch and the Innovation Engineering Institute, the robust data set gives a unique and data-grounded peak into what really makes innovation take hold.