Innovative Products: LGs Flexible Display and Vivitouch - Assignment Example

In seeking to categorize this recent innovation, it can be understood not as an entirely new-to-the-world product but rather a development and addition to existing product lines that LG has experience in producing (Schreier et al., 2012). The ultimate challenge towards bringing this product to the market and allowing it to be represented in existing and future technology is of course bringing down the cost of production.

With regards to the issue of marketing, the individual consumer might not immediately be thoroughly familiar with the benefits that a foldable and/or flexible display may have with regard to their normal computing and mobile phone needs. Further, with regards to the best way of presenting this good to the consumer, it is the belief of this author that the rate of consumer adoption will be quite quick once effective marketing and the cost of production have significantly been reduced. This is due to the fact that the rapid rate of change with regard to technology has proven the desire and ability of consumers to change their tastes and demands with the times (Turpitz, 2010).

Keeping the theme of technological innovation, Vivitouch is a new product that seeks to provide a level of development to existing technology. Ultimately, Vivitouch noted that the current market utilizes vibration devices in tablets, gaming devices, and even mobile phones. However, even though the wide variety of products that utilize these devices is broad, the ability of these devices was minimal; ultimately, the vibration for a phone call was not any different than the simulated vibration of a jet engine in a game, or the vibration of a race car hitting a curb, or the vibration of firing a gun (Merton, 2013).

Realizing this shortcoming meant that the individual user was missing an opportunity to integrate with the technology to a further degree, the firm sought to proliferate this technology to the major hardware producers in the market. The ultimate challenge will of course be getting each of the major hardware manufacturers to abandon their existing contract and go with the firm in question. With regard to the rate of consumer adoption, it is likely that this will be noted differently; depending on what technology is specifically in question (Filipescu et al., 2013). Finally, with regards to answering the question of proper levels of intensive marketing and/or research and development of products, it is the view of this student that the consumer is ultimately unable to have the imagination and objectivity that the researchers may wish for them too.