The Right Product For The Right Market
Enterprenuer 5.1 New product development Successful new products spring from the convergence of: (1) the creative mind; (2) the technical mind; (3) the business mind. All three minds come together in the entrepreneurial mind. In reality, however, the three minds are seldom found in one entrepreneur. However, the entrepreneur is certainly the orchestrator of the three minds. The entrepreneurial mind The creative mind conceptualizes and designs a product that consumers find some use for. It likewise produces a product that is pleasing to see, touch, smell, hear, and taste. It also produces a product that creates emotional attachment and eventually becomes a significant personal expression of the consumer. The technical mind is the technology originator. The entrepreneur may not necessarily possess the technical but this is what drives him or her to convert new knowledge into something highly functional and operational. The technical mind is also a technolo...