When facing an innovation project in the field of household appliances, it is essential to deepen the knowledge of the product or service on which you want to innovate. This implies a cost of time and money, but it is a necessary investment that can increase the chances of success of the project.
In the home appliance sector, detailed product knowledge is crucial to identify opportunities for improvement and innovation. For example, in the case of a kitchen oven, it is necessary to know the different cooking technologies, the needs of the users, the most suitable materials, the optimal sizes and shapes, etc. Only with exhaustive knowledge of the product can you identify opportunities for improvement and create innovative solutions that meet the needs of the market.
Deepening the knowledge of the product or service also helps to identify possible technical, legal or market barriers that may arise during the development of the innovation project. In the case of household appliances, there may be barriers related to electrical safety, the size and weight of the product, energy efficiency regulations, etc. By anticipating these barriers, preventative measures can be taken and the impact on the project minimized.
Although deepening the knowledge of the product or service may seem like an additional cost, it is a necessary cost for the success of the innovation project. Not having enough information about the product or service can lead to design errors or the implementation of solutions that do not meet the needs of the market. Instead, an investment in detailed product knowledge can result in an innovative solution that offers a competitive advantage in the appliance market.
In short, in the home appliance sector, deepening knowledge of the product or service is essential to successfully face an innovation project. Although it involves a cost of time and money, it is a necessary investment that can increase the chances of success of the project and lead to the creation of innovative solutions that meet the needs of the market.
Given the low probabilities of commercial success of innovations, judging by the casuistry, the high investment volume required as well as the significant cost of communicating an innovation, not delving deeper and connecting the dots, as well as not having a team with proven experience that have a panoramic vision of what this type of project implies and the complexity of this type of decision, are factors that can hinder the success of a great idea or innovation.