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Innovation Metrics

Part 5. Product Innovation and Management

  1. David Reibstein1,
  2. Venkatesh Shankar2

Published Online: 15 DEC 2010

DOI: 10.1002/9781444316568.wiem05013

Wiley International Encyclopedia of Marketing

Wiley International Encyclopedia of Marketing

How to Cite

Reibstein, D. and Shankar, V. 2010. Innovation Metrics. Wiley International Encyclopedia of Marketing. 5.

Author Information

  1. 1

    University of Pennsylvania, Philadelphia, PA, USA

  2. 2

    Texas A&M University, College Station, TX, USA

Publication History

  1. Published Online: 15 DEC 2010

Abstract

No firm can last forever on its existing products. It is necessary for a firm to invest for the future through either entirely new products or enhancements of existing products/services. Thus, investments on innovations constitute a major proportion of firms' total investments. To manage their investments in innovation, firms track the success and progress of their innovations. There is a growing body of research on “innovation metrics” – the measures used to track innovation progress. We review the state of the art on innovation metrics, report on the usage of metrics by firms, and highlight the measures that have proven to be most useful to firms.

Keywords:

  • innovation;
  • metrics;
  • innovation metrics;
  • new product development;
  • dashboards