Customer Value

1. Inadequate understanding of customers needs and wants; market size and customer buying patterns are not adequately researched

Yin and Yang Customer Value Creation

2. Inadequate understanding of competition

3. Inadequate prototype testing, product performance testing and market testing

Technology and Process

1. Invention, not customers and their needs, come first; research capabilities are used  to come up with unique products, instead of creating unique customer value

2. Lack of a well defined cross-functional new product strategy; insufficient involvement of critical departments during the development and launch of the product.

3. Lack of institutionalized innovation process and effective monitoring and measurement criteria

The Jazz of Innovation: 11 Practice Tips

Organization and People

1. Lack of energized and energizing innovation leaders; concerns about management's real commitment to new products

2. Poor employee motivation;  unclear career path for new product personnel; insufficient inspiration and incentives to encourage risk taking; unclear assignment of ultimate new product responsibility

3. Cross-functional teams are weak or insufficiently empowered

Innovation-friendly Organization

Marketing and Selling

1. Build-it-and-they-will-come attitude

2. Product differentiation  and positioning is weak

3. The product launch is not supported by adequate marketing initiatives and resources