3M
3 approaches towards further product innovation * 10% annual growth in EPS line extensions * 27% ROC hiring out for 20-25% ROE market research Stage II: Trends/Needs Identification Stage III: Preliminary Concept Generation Stage IV: Final Concept Generation In the early 1900’s, 3M corporation began its product innovation process by focusing on a single product at a time, starting with the production of abrasives. After realizing a loss due to the low-grade materials, 3M turned to the sandpaper business. Unfortunately, once again, the company realized a loss when the previously imported abrasives failed to stick to the sandpaper. In the 1920s, lab assistant, Richard Drew created the concept behind masking tape while working on ways to improve the sandpaper. By ignoring specific instructions to improve their pr
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Some common words found in the essay are:
User Research, Concept Generation, Notes Third, Richard Drew, Core Technologies, Competing Capabilities, Wal-Mart Core, Research Process, Planning Homework, Trends/Needs Identification, user research, lead user research, lead user, product innovation, concept generation, innovation process, traditional methods, market research, teams, masking tape, research process, user research process, customer competing capabilities, towards product innovation, concept generation ,
Approximate Word count = 1058
Approximate Pages = 4 (250 words per page double spaced)
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