Marketing innovation cluster submission

From AussieInnovation Wiki

Marketing Innovation Cluster
Submitted	20-03-08
Review Reference	40-Malcolm Wright
Location	Official Review submissions page
Discussion	AIC Submission Discussion
Authors	Professor Malcolm Wright
Signers	Professor Malcolm Wright
Topics	Marketing, Innovation Centres, Commercialisation, Incubators

Overview

This paper proposes involving a marketing component in every stage of the R&D process. This includes a marketing innovation cluster.

It argues that market adoption is an important part of true innovation. Not only does marketing, as a discipline, help determine how to present products it also can study market demand for an innovation. This could greatly increase the effectiveness of innovation investment dollars; as Wright says, “46% of new product expenditure goes to projects that are cancelled or fail when launched. Yet some companies (30 out of 100) reduce this from 46% to 20%. Marketers know how they do it.”

Link: http://www.innovation.gov.au/innovationreview/Documents/40-Malcolm_Wright.pdf

Notes

None at this stage.

Discussion

• AIC Submission Discussion