The consumer electronics industry is experiencing a period of rapid innovation and change. Today’s consumer electronic products include app and web experiences as well as the physical device. Consumers expect their experience to be updated periodically and to evolve after the purchase of the physical device.
The type of organization required to innovate these extended products is very different from the consumer electronics environments of the past, requiring innovation also in organization, leadership and processes.
Characteristics critical to success for today's consumer electronics companies include:
Creating an effective product innovation environment is critical for both small companies looking for the maximum leverage in delivering their first product and for larger companies looking to engage their customers more deeply.