Cool in business: Developing a data-based instrument measuring "cool"

Abstract

Cool products deliver a leap of value - so much so that people exclaim they are "cool". Cool products are transformative but cool can fade with time as people get used to them. Compared to other measures, the cool measures are assumed to be more subjective and qualitative in nature. Cool is being redefined all the time; what is cool today will probably not be cool in a few years. In extensive research activities, we identified "cool concepts" that are assumed to be quite independent from time and fashions. Impact on life is a strong element of coolness. For example, after many years the DVR continues to hold its position as a transformative, cool product that has had widespread positive impact and benefits on life. The seven constructs of cool, the Cool Concepts, and the 40 measures of coolness derived from them are grounded in data, with almost 900 consumers and over 2000 business professional participants in various research activities, conducted over 3 years. © 2014 Springer International Publishing Switzerland.