Powell Flutes: Innovating Products and Markets

  • Steven A. Wasser
Keywords: arts entrepreneurship, case study, innovation, market, Powell Flutes

Abstract

The purpose of this case study is to provide an understanding of how innovation is possible even when an artistic product has a 180-year history of design stability. Innovation does not come from a lightning bolt out of the sky. Rather, it emerges from an openness to new ideas and deep experience in your industry or product. There are numerous parameters on which a business can innovate, including materials, mechanics, aesthetic design and manufacturing technology. One approach is to eliminate constraints blocking innovation by working backwards from Z to A, rather than working incrementally forward from A to B to C. Market surveys must be conducted cautiously, as consumers may not be able to envision a hypothetical product for which a prototype is not yet available. When innovation breaks new ground, it can also create new markets or market segments. Therefore, it is generally preferable to own 100% of your own market segment than 10% of a highly competitive market.

Published
2021-07-28
How to Cite
Wasser, S. A. (2021). Powell Flutes: Innovating Products and Markets. Journal of Arts Entrepreneurship Education, 3(1), 22-28. https://doi.org/10.46776/jaee.v3.81