Digital Media and Innovation takes an in-depth look at how smart, creative companies have transformed the business of media and telecommunications by introducing unique and original products and services. Today’s media managers are faced with the same basic question: what are the best methods for staying competitive over time? In one word: innovation. From electronic commerce (Amazon, Google) to music and video streaming (Apple, Pandora, and Netflix), digital media has transformed the business of retail selling and personal lifestyle. This text will introduce current and future media industry professionals to the people, companies, and strategies that have proven to be real game changers by offering the marketplace a unique value proposition for the consumer.
Chapter 3: Product Innovation and Design
Product Innovation and Design
Disneyland will never be completed as long as there’s imagination left in the world . . . .
Carefully watch how people live, get an intuitive sense as to what they might want and then go with it.
Product innovation refers to the complex process of bringing new products and services to market as well improving (or enhancing) existing ones. It allows a business to develop and improve on its existing product line as well as preparing the groundwork for the future.1 If successful, a new product innovation will create a first-of-its-kind market space. Highly innovative companies display a clear and discernible progression in the products they make. They force themselves to create newer and better ...