No, not everyone needs a prototype for every new concept, even if you've got a homemade 3D printer.
But sometimes, when you're bringing something out that is too new, or is a combination of services that hasn't been seen before, a prototype can move the conversation ahead much more quickly than just verbal descriptions.
Here's one such situation as described by Michael Dolenko, co-head of Phase 5's innovation group:
Our client, one of North America’s leading financial services companies, wanted
to investigate a value proposition that integrated invoicing and AR management
into online banking services for small businesses. Our objectives were to:
Assess overall reaction to the product concept
Identify what benefits the solution would have for small businesses
Determine what concerns or barriers to adoption might exist
Solicit input into potential pricing models for the solution
Read about the research difficulties and the prototyping solution in the case study that Michael has written up.
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