Marketers are using the ‘hype cycle’ model to launch new innovations

Marketers are using the ‘hype cycle’ model to launch new innovations

If you believe the hype, driverless vehicles, embedded sensors, immersive interfaces and a host of new wearable technology will soon be changing the world as we know it.

But which of these new technologies will become an imminent marketable reality and which of them are destined for another decade of development? The ‘hype cycle’, a five stage development curve can help marketers distill what’s hot from just hype.

Marketers ask themselves questions like these every day because timing is everything. If a brand launches a product too early, consumers might not be ready for it, but, if the early launch is successful – such as with Nike’s FuelBand – they can be first to market.

Come in late, however, and although the brand can learn from others’ experience, it runs the risk of failing to penetrate an already saturated market.

Morrisons , for example, has only just launched an online delivery service , following belatedly in the footsteps of the other major supermarkets. As digital marketing director Amanda Metcalf says, this has “effectively forced people into our competitors’ hands” (see Q&A).

Worked at Burleson Orthodontics. Attended University of Missouri–Kansas City. Lives in Kansas City, Missouri.

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