AR and VR are not new technologies, yet two converging forces are accelerating their adoption: clearer, measurable business value and rapid improvements in hardware and software that enable richer prototype testing through immersive user experiences. Consequently, these forces are expanding the role of AR/VR across product design, R&D, training, and operational workflows, turning what was once experimental into a practical, strategic capability and unlocking new possibilities for Prototype Testing via Immersive User Experiences.

Cost estimation has a long and storied history — even appearing in biblical texts. Luke 14:28–29 underscores the importance of planning: “...he should first sit down and count the cost, to see whether he has enough to complete it.” The question today is not whether to estimate costs, but which method is most effective for a given application. Among the most enduring and versatile approaches is Parametric Cost Modelling.

Traditional and emerging technologies rooted in conventional design and manufacturing are increasingly inadequate in addressing today’s urgent societal challenges. These include environmental crises like climate change and pollution, infrastructure concerns such as aging systems and integrated manufacturing, rising computational demands, and critical issues in human health and resource management — ranging from aging populations and food insecurity to vaccine development and organ replacement.

Economic systems are built and steered by people, not by immutable natural laws. Unlike physics, where objects follow fixed rules, economic choices reflect human emotions and judgments. While neoclassical economic theories provide robust frameworks for analysing and designing efficient markets, they cannot fully explain every instance of market failure. That gap has given rise to behavioural economics and price psychology — a field that enriches traditional economic models with psychological insights to better account for how real consumers and firms actually behave. One of the toughest challenges in marketing is setting the right price through behavioural pricing tactics. Drawing on concepts from psychology, behavioural economics, and classical marketing research, practitioners have shown how applying behavioural pricing strategies can boost demand and maximize adoption. Indeed, price remains one of a company’s most strategic levers. When devising a pricing strategy, marketers must look beyond production and distribution costs to understand what customers truly value. Shoppers seek the optimal blend of cost and quality — what they perceive as “value for money.” By leveraging behavioural pricing principles and consumer pricing psychology, firms can align their own revenue goals with the value expectations of current and prospective buyers, driving stronger sales performance.

Sustainable prototyping materials and methods have emerged as a critical imperative, driven by growing concerns over environmental degradation, resource exhaustion, and climate change. Today’s accelerating global temperatures — manifested in extreme weather events like wildfires, hurricanes, droughts, and floods — are disrupting ecosystems and endangering human communities. Historic patterns of deforestation and urban expansion have eroded biodiversity and fragmented natural habitats, underscoring the unsustainable trajectory of current practices. At its core, sustainability demands an ethical commitment to intergenerational equity: today’s choices must safeguard the planet’s capacity to support future generations. Preserving vital ecosystem services — clean air, water filtration, fertile soils — becomes not only a practical necessity but a moral duty. Education and awareness are indispensable for instilling this mindset; sustainable production design and eco-conscious prototyping methods offer a hands-on framework for embedding environmental principles into functional, aesthetically engaging solutions across industries.

New-product development is undergoing a fundamental shift. In today’s fiercely competitive marketplace, companies have learned that delivering superior quality, low cost, and product differentiation alone no longer guarantees success. To survive and thrive, they must also excel at speed and adaptability. Modern commerce — characterized by rapid change, volatility, and intense competition — demands agility and swift responsiveness. As a result, the old, strictly linear “relay race” model of development — exemplified by NASA’s phased program planning — can no longer keep pace with these requirements.

Launching a new product is a significant milestone for any business, signaling growth, adaptation to market demands, and innovation. However, the process is fraught with risks, and a poorly executed launch can lead to substantial losses. To mitigate the uncertainty and enhance the likelihood of success, businesses should invest in concept testing, an early-stage market research method designed to validate product ideas before full-scale development.