Pitney Bowes Inc: Innovation Process
Innovation Process and personnel
One major issue that Pitney Bowes had is the total separation between their two essential roles, product engineering and future-scanning, in innovation process. For Amita’s innovation process, all concept development and commercial feasibility are being done in AC&T without engaging product engineering team. If product engineering team has been involved earlier, …show more content…
In addition to composing the team, we should also consider hiring personnel with correct skill-set. A person with retail experience, even better with postal-related background, would be much more suitable for the role in sales team to drive the product to market.
Innovative product features – cost-benefit analysis
Pitney Bowes should have performed cost-benefit analysis on each functionality it considers putting into Stamp Expression. Below questions should be answered:
1. What are the must-have functionalities? Company should investigate through client discussions. Missing any of these functionalities may lead to customers abandoning the product.
2. What are the desired or innovative functionalities? This step will help Pitney Bowes making the right trade-off among different functionalities. A cost-benefit analysis can be done on how much customer demand is for this feature or how much benefit this feature can bring to customers; conversely how much additional cost this feature put onto the product. As the sales team would know the maximum cost they can place for the product, using this analysis AC&T can decide which of these features to put into the product.
If there is a value proposition that AC&T considers as mandatory,