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Innovation EquityAssessing and Managing the Monetary Value of New Products and Services$
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Elie Ofek, Eitan Muller, and Barak Libai

Print publication date: 2016

Print ISBN-13: 9780226618296

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226394145.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 05 June 2020

Making the Framework “Work” for You

Making the Framework “Work” for You

Chapter:
(p.244) Chapter Nine Making the Framework “Work” for You
Source:
Innovation Equity
Author(s):

Elie ofek

Eitan Muller

Barak Libai

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226394145.003.0010

This concluding chapter serves as a review of the material covered throughout the book and addresses issues often encountered when implementing the various concepts in practice and in different business settings. The presentation takes on a “Frequently Answered Questions” (FAQ) format, i.e., it outlines each issue as a question readers may be wondering about and then provides a comprehensive answer to it. FAQs are organized as follows: those pertaining to the diffusion of innovations, those dealing with customer lifetime value (CLV), and those related to the innovation equity framework. Examples of diffusion FAQs include: Can I use the various diffusion models covered in the book for any type of innovation? I am ultimately interested in running the analysis for my specific brand; should I start with assessing diffusion at the category level or go directly to the brand level? Is the social force always positive? Examples of CLV FAQs include: How can I obtain reasonable estimates for the CLV parameters? Are some of the CLV parameters likely to change over time? If so, how? The chapter ends with a check list that delineates the key steps to follow, and important issues to be aware of, when crafting innovation equity assessments.

Keywords:   innovation equity, forecasting, radical innovation, incremental innovation, nonlinear least squares, disadoption, negative social effects, business to business, conjoint analysis, customer engagement

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