Creating a Success of Innovation – How to Make your Market!

Event factfile

Date of event: 28 May 2015
Event ends: 28 May 2015
Start time: 13:30
End time: 14:30
Price: This webinar is a free event however please book by Tuesday 26 May in order to secure your place
Creating a Success of Innovation – How to Make your Market!

‘Making a market’, or creating a need for something no-one has experienced before, is difficult enough for the most well-known sellers, but for entrepreneurs it is doubly so. In this webinar Professor Andrew Godley, Director of the Henley Centre for Entrepreneurship, explored how entrepreneurs can overcome market-making failure. 

‘Making a market’, or creating a need for something no-one has experienced before, is difficult enough for the most well-known sellers, but for entrepreneurs it is doubly so.

It is often assumed that customers are the best judges of whether or not they have a problem, but that is not always the case, especially when it comes to innovative and complex products. Consumers are uncertain of their requirements, so producers engage in guesswork to try and identify what they desire but cannot articulate. It’s a difficult position for both parties, and exacerbated for those entrepreneurs who, unlike well-established brands, lack an existing ‘implicit contract’ based on trust. Without the luxury of the implicit contract, entrepreneurs have to try harder to convince consumers.

Entrepreneurs working in complex markets need to accept that their innovation is not enough – how they get that innovation to market is equally as important, the process by which they transform a brilliant design into a marketable commodity that people suddenly realise they need. Without the market, their good technology will fail.

In this webinar Professor Andrew Godley, Director of the Henley Centre for Entrepreneurship, will explore how entrepreneurs can overcome market-making failure, covering topics such as Reputation and Trust BuildingPartnering and Pricing.

For further details of this sessions topic, please view here. 

The recording of this webinar (1hr 6mins) can be viewed online here

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