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Authors:
Raphael G.D. MURSWIECK, Astrid FORTMULLER, Matthias DUNNWEBER, Ann-Kathrin ARP, Romania
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Abstract:
Innovations are seen as being mandatory for organizations to succeed in the long-term. New products, services, processes or entirely new business models are often not an easy task to develop within an organization. Especially in a global economy with increased competition, the risk of failure is high regarding financial losses. Hence, the tendency in perceiving the development process of innovations as a burden is understandable, especially if organizations have been successful in the past with existing business and without innovations. As the development process for innovation can also be a time consuming, uncertain and expensive matter, it is worth to think about methods on how to create innovations faster and more successful. Based on a field observation, this article aims to show a successful way on how innovations can be created by involving customers at the beginning of innovations. Therefore, the authors analyzed a start-up company within the pumping industry which growth mainly is based on a relationship-marketing approach and innovative products. As the research methodology, the grounded theory according to Strauss/Corbin was chosen to get qualified and open-minded data material to answer the research question on how innovations were created in the early stage. The results show that a strong customer focus is the company's key driver in succeeding with both existing and new products.
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