The power of design
Today, industrial design and innovation are one of the most powerful forces in the global economy. Government research in Britain and Korea show an ROI (Return on Investment) of 1:19 – each dollar invested in design and innovation returns an average of $19 in sales.
.jpg)
Today’s consumers are no longer content with products that only function well; they demand attractive, appealing products that provide positive user experience.Leading global firms realize that competition is no longer performance-based, but depends on total user experience. It is extremely difficult for companies manufacturing products not based on proprietary technology differentiating it from the competition to attract attention and become market leaders solely on the basis of a product’s performance. Technology and performance are only a stepping stone into the market: differentiation and competition shift the focus from performance to innovation, design, and user experience, from solid attributes to soft ones.
The best and most effective way to differentiate products and gain competitive advantage is through design and innovation. This is true not only of consumer products, but also those meant for industry, the military, medicine, and other non-consumer fields.