Abstract
A significant function of the innovation profitability analysis is the determination of success: Expenses and revenues as well as their net balance as the innovation output should be recorded (Hauschildt 1994, p. 1018). In order to be competitive as a company, expense control must already come into play in the very early phases of the innovation process so that the target customers can be offered a suitable product at an acceptable price. As a result of heightened price consciousness in many markets, the question “What will the product cost?,” which focuses on the objectivity of technology and the economy, is being replaced in product development by the question “What may the product cost?,” which focuses on the subjectivity of the perceptions of target customers. This question must be asked early in the process: A large part of the product costs (some estimates claim 70–80%) are determined in the early phases of the value chain (research and development (R&D) as well as design, thus in the core phases of the innovation process), such that little leeway remains for cutting costs in the production phase (Serfling and Schultze 1996, p. 29).
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Notes
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1 For a detailed presentation, please refer to the practice-oriented textbook Trommsdorff and Steinhoff (2007) “Innovationsmarketing,” published by Franz Vahlen GmbH, Munich.
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Steinhoff, F., Trommsdorff, V. (2010). Conjoint-Based Measurement of Benefits of Product Functions and Generation of Target Prices1 . In: Schmeisser, W., Mohnkopf, H., Hartmann, M., Metze, G. (eds) Innovation performance accounting. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-01353-9_12
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