Powell Flutes: Innovating Products and Markets
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.
Copyright (c) 2021 Steven A. Wasser
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright of their work, with first publication rights granted to The Society for Arts Entrepreneurship Education (SAEE).