Lone Inventor in Garage
The main message of this article is to explain to the general public that the myth of the lone inventor in a garage that single handedly progresses society is not very likely. It describes the difference between a group of very intelligent researchers in a lab full of very expensive equipment and one single researcher with a common laptop and gear that can be found in a garage.
Research laboratories give the scientists many more options to work with. It is a multipurpose facility with at least 40 members which are either scientists or technicians.
America's misconception of the lone inventor starts with Thomas Edison and goes to Iron Man.
Research laboratories give the scientists many more options to work with. It is a multipurpose facility with at least 40 members which are either scientists or technicians.
America's misconception of the lone inventor starts with Thomas Edison and goes to Iron Man.
Accidental Innovations
Swiss electrical engineer, George De Mestral, was interested in how animals can bring all sorts of things from outside back with them. In his case, he noticed how cocklebur easily stuck to his clothes and his dog. He decided to examine the cocklebur under a microscope and noticed that there are rows after rows of little hooks all over it. This allows the cocklebur to stick into the small loops that can be found in clothing. He then continued and experimented with many different materials and concluded that nylon was the best, thus creating velcro.
Website used: http://www.csmonitor.com/Innovation/2012/1005/The-20-most-fascinating-accidental-inventions/Velcro
Image: networkingnerd.net
Website used: http://www.csmonitor.com/Innovation/2012/1005/The-20-most-fascinating-accidental-inventions/Velcro
Image: networkingnerd.net
In 1905, an 11 year old boy accidentally invented the popsicle. His name is Frank Epperson. He happened to do this by attempting to produce something else. He was trying to make a fruit-flavored soda drink out of flavored powder and water. However, he was not finished created the drink and left it outside. It was a cold night and by morning it had frozen with the stirring stick still stuck in what is now a flavored icicle. Seventeen years later he finally realized what he had invented. He then got a patent and started selling what is now one of the most popular treats for kids.
Website used: http://www.csmonitor.com/Innovation/2012/1005/The-20-most-fascinating-accidental-inventions/Popsicles
Image: www.ocfoodies.com
Website used: http://www.csmonitor.com/Innovation/2012/1005/The-20-most-fascinating-accidental-inventions/Popsicles
Image: www.ocfoodies.com
In the 1839, Charles Goodyear accidentally invented vulcanized rubber. This rubber became a huge game changer in the market because it is weather-proof. Many people were frustrated with the fact that regular rubber would easily get wet (rubber shoes). He came across this innovation when he was showcasing one of his recent rubber concoctions. He accidentally dropped it onto a hot stove and when he picked it up he realized that it was a "charred leather-like substance with a rubber rim." 40 years after his death, Goodyear Tire and Rubber Company was named after him to keep his legacy going.
Website used: http://www.popularmechanics.com/science/health/breakthroughs/10-awesome-accidental-discoveries#slide-6
Image: www.allcheaptires.com
Website used: http://www.popularmechanics.com/science/health/breakthroughs/10-awesome-accidental-discoveries#slide-6
Image: www.allcheaptires.com
Product cycle Outline
Introduction Stage
Growth Stage
Maturity Stage
Decline Stage
- Product awareness
- Develop a market for the product
- Product branding & quality level is established
- Patents & trademarks
- Pricing -> LOW - market spread --- HIGH - recover development cost
- Distribution
- Promotion - aimed at early adopters
Growth Stage
- Firm seeks to build brand preference & increase market square
- Product & pricing maintained
- Little competition
- Distribution channels added
- Promotion aimed at broader audience
Maturity Stage
- Sales diminish
- Competition may appear w/ similar products
- Defend market share while maximizing profit
Decline Stage
- Firm has options: Add new features
- Harvest profit - lower costs
- Discontinue the product