Overview Product Innovation in Marketing 2024
Prof. dr. Annouck Lievens – Universiteit Antwerpen
Table of contents
Chapter 1: Introducing Product Innovation for Marketing ................................................................ 4
Question 1 ...................................................................................................................................... 4
Question 2 ...................................................................................................................................... 5
Question 3 ...................................................................................................................................... 6
Question 4 ...................................................................................................................................... 7
Question 5 ...................................................................................................................................... 8
Question 6 .....................................................................................................................................10
Question 7 .....................................................................................................................................11
Chapter 2: Understanding Innovation Solutions ............................................................................ 13
Question 8 .....................................................................................................................................13
Question 9 .....................................................................................................................................15
Question 10 ...................................................................................................................................16
Chapter 3: Creating new products and services ............................................................................ 17
Question 11 ...................................................................................................................................17
Question 12 ...................................................................................................................................19
Question 13 ...................................................................................................................................21
Question 14 ...................................................................................................................................22
Question 15 ...................................................................................................................................24
Question 16 ...................................................................................................................................27
Question 17 ...................................................................................................................................29
Question 18 ...................................................................................................................................30
Question 19 ...................................................................................................................................31
Question 20 ...................................................................................................................................33
Question 21 ...................................................................................................................................34
Question 22 ...................................................................................................................................35
Question 23 ...................................................................................................................................36
Question 24 ...................................................................................................................................37
Question 25 ...................................................................................................................................39
Question 26 ...................................................................................................................................40
Written by Rani Boons pag. 1
, Question 27 ...................................................................................................................................41
Question 28 ...................................................................................................................................43
Question 29 ...................................................................................................................................44
Question 30 ...................................................................................................................................45
Question 31 ...................................................................................................................................46
Question 32 ...................................................................................................................................47
Question 33 ...................................................................................................................................48
Chapter 4: Capturing the Benefits of Innovation ............................................................................ 49
Question 34 ...................................................................................................................................49
Question 35 ...................................................................................................................................52
Question 36 ...................................................................................................................................53
Question 37 ...................................................................................................................................54
Question 38 ...................................................................................................................................55
Chapter 5: Learning from Innovation ............................................................................................. 58
Question 39 ...................................................................................................................................58
Question 40 ...................................................................................................................................59
Question 41 ...................................................................................................................................60
Question 42 ...................................................................................................................................61
Question 43 ...................................................................................................................................62
Question 44 ...................................................................................................................................63
Question 45 ...................................................................................................................................64
Chapter 6: Open Innovation and Collaboration.............................................................................. 65
Question 46 ...................................................................................................................................65
Question 47 ...................................................................................................................................66
Question 48 ...................................................................................................................................67
Question 49 ...................................................................................................................................68
Question 50 ...................................................................................................................................69
Question 51 ...................................................................................................................................70
Chapter 7: Customer Acceptance of Innovation ............................................................................ 71
Question 52 ...................................................................................................................................71
Question 53 ...................................................................................................................................72
Question 54 ...................................................................................................................................73
Question 55 ...................................................................................................................................74
Written by Rani Boons pag. 2
,Guest speaker questions: Francqui and Henkel ............................................................................ 75
Question 56 ...................................................................................................................................75
Question 57 ...................................................................................................................................76
Question 58 ...................................................................................................................................77
Written by Rani Boons pag. 3
, Chapter 1: Introducing Product Innovation for Marketing
Question 1
Explain how innovation theory forms a new approach for marketing on the one hand
and elaborate on how marketing theory can fuel innovation success.
Innovation theory as a new approach for marketing: traditionally… employed by businesses/
scholars to describe and understand the extent to which innovations can be successfully
managed and engaged within an organization facing environmental changes.
Includes:
ð Innovation classifications (radical vs incremental)
ð DiAusion of innovations
ð Life cycle & adoption of innovations
Marketing theory fuels innovation success: Businesses need marketing insights to manage
emerging technologies (like social media, AR, AI, mobile apps…) that can address consumers’
desire to enjoy more engaging experiences in omnichannel environments (shopping,
product/brand & service).
Challenges:
ð Select innovative eAicient solutions/stimuli that fit consumers’ expectations and
organizational purposes.
ð Designing new, more cost-eAective, customized and superior customer experiences,
handling multiple channels.
ð Willingness to accept as a marketing focus should be extended to an innovation
process perspective.
ð …
Examples:
• Well-known uses of AI: Siri, Tesla (self-driving), Netflix, Google Nest (uses generative AI
& improves itself continuously), Alexa…
• Biofeedback technologies: Those technologies that are able to automatically recognize
psychophysical, physiological and direct brain activity, such as electrodermal activity,
pupil size, brainwaves, etc.
• Neuromarketing: The intersection of marketing, economics, psychology and
neuroscience through the development of more scientific measurements to be used by
marketers to take uncertain strategic decisions.
Written by Rani Boons pag. 4
Prof. dr. Annouck Lievens – Universiteit Antwerpen
Table of contents
Chapter 1: Introducing Product Innovation for Marketing ................................................................ 4
Question 1 ...................................................................................................................................... 4
Question 2 ...................................................................................................................................... 5
Question 3 ...................................................................................................................................... 6
Question 4 ...................................................................................................................................... 7
Question 5 ...................................................................................................................................... 8
Question 6 .....................................................................................................................................10
Question 7 .....................................................................................................................................11
Chapter 2: Understanding Innovation Solutions ............................................................................ 13
Question 8 .....................................................................................................................................13
Question 9 .....................................................................................................................................15
Question 10 ...................................................................................................................................16
Chapter 3: Creating new products and services ............................................................................ 17
Question 11 ...................................................................................................................................17
Question 12 ...................................................................................................................................19
Question 13 ...................................................................................................................................21
Question 14 ...................................................................................................................................22
Question 15 ...................................................................................................................................24
Question 16 ...................................................................................................................................27
Question 17 ...................................................................................................................................29
Question 18 ...................................................................................................................................30
Question 19 ...................................................................................................................................31
Question 20 ...................................................................................................................................33
Question 21 ...................................................................................................................................34
Question 22 ...................................................................................................................................35
Question 23 ...................................................................................................................................36
Question 24 ...................................................................................................................................37
Question 25 ...................................................................................................................................39
Question 26 ...................................................................................................................................40
Written by Rani Boons pag. 1
, Question 27 ...................................................................................................................................41
Question 28 ...................................................................................................................................43
Question 29 ...................................................................................................................................44
Question 30 ...................................................................................................................................45
Question 31 ...................................................................................................................................46
Question 32 ...................................................................................................................................47
Question 33 ...................................................................................................................................48
Chapter 4: Capturing the Benefits of Innovation ............................................................................ 49
Question 34 ...................................................................................................................................49
Question 35 ...................................................................................................................................52
Question 36 ...................................................................................................................................53
Question 37 ...................................................................................................................................54
Question 38 ...................................................................................................................................55
Chapter 5: Learning from Innovation ............................................................................................. 58
Question 39 ...................................................................................................................................58
Question 40 ...................................................................................................................................59
Question 41 ...................................................................................................................................60
Question 42 ...................................................................................................................................61
Question 43 ...................................................................................................................................62
Question 44 ...................................................................................................................................63
Question 45 ...................................................................................................................................64
Chapter 6: Open Innovation and Collaboration.............................................................................. 65
Question 46 ...................................................................................................................................65
Question 47 ...................................................................................................................................66
Question 48 ...................................................................................................................................67
Question 49 ...................................................................................................................................68
Question 50 ...................................................................................................................................69
Question 51 ...................................................................................................................................70
Chapter 7: Customer Acceptance of Innovation ............................................................................ 71
Question 52 ...................................................................................................................................71
Question 53 ...................................................................................................................................72
Question 54 ...................................................................................................................................73
Question 55 ...................................................................................................................................74
Written by Rani Boons pag. 2
,Guest speaker questions: Francqui and Henkel ............................................................................ 75
Question 56 ...................................................................................................................................75
Question 57 ...................................................................................................................................76
Question 58 ...................................................................................................................................77
Written by Rani Boons pag. 3
, Chapter 1: Introducing Product Innovation for Marketing
Question 1
Explain how innovation theory forms a new approach for marketing on the one hand
and elaborate on how marketing theory can fuel innovation success.
Innovation theory as a new approach for marketing: traditionally… employed by businesses/
scholars to describe and understand the extent to which innovations can be successfully
managed and engaged within an organization facing environmental changes.
Includes:
ð Innovation classifications (radical vs incremental)
ð DiAusion of innovations
ð Life cycle & adoption of innovations
Marketing theory fuels innovation success: Businesses need marketing insights to manage
emerging technologies (like social media, AR, AI, mobile apps…) that can address consumers’
desire to enjoy more engaging experiences in omnichannel environments (shopping,
product/brand & service).
Challenges:
ð Select innovative eAicient solutions/stimuli that fit consumers’ expectations and
organizational purposes.
ð Designing new, more cost-eAective, customized and superior customer experiences,
handling multiple channels.
ð Willingness to accept as a marketing focus should be extended to an innovation
process perspective.
ð …
Examples:
• Well-known uses of AI: Siri, Tesla (self-driving), Netflix, Google Nest (uses generative AI
& improves itself continuously), Alexa…
• Biofeedback technologies: Those technologies that are able to automatically recognize
psychophysical, physiological and direct brain activity, such as electrodermal activity,
pupil size, brainwaves, etc.
• Neuromarketing: The intersection of marketing, economics, psychology and
neuroscience through the development of more scientific measurements to be used by
marketers to take uncertain strategic decisions.
Written by Rani Boons pag. 4
