The Product Journey 2.1, Opportunities for Innovation

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This presentation illustrates areas of opportunity for innovative thinking in a typical enterprise that can be directed externally, for customers, or internally, for specific departments.

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  • This map will make your brain hurt, but it shows how you can start anywhere and still find your way.
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  • Al's methodology is totally customer centric, starting at VoC and creating alignment throughout entire enterprise - very compelling.
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The Product Journey 2.1, Opportunities for Innovation

  1. 1. Modeling the Innovation Process<br />From Idea to Realization<br />1<br />ALEE LLC<br />Al Lee<br />+1.847.219.4163<br />alson.lee@gmail.com<br />
  2. 2. A product embodies the value produced by an enterprise<br />A product is a good or service in this slide<br />Product must fulfill needs and wants of Consumers<br />Better, Faster, Cheaper outcome for Consumer<br />Better, Faster, Cheaper product than competitor<br />Research, Engineering/ Development and Production are the three major phases for product creation<br />Research can serve as the genesis for fulfilling that need <br />Market<br />The Journey of Idea to Product<br />ALEE LLC<br />Consumer<br />Product<br />“Voice of the<br />Customer” Input<br />Production<br />Sales/<br />Marketing<br />Engineering/Development<br />Product<br />Management<br />Research<br />Other<br />Input<br />2<br />
  3. 3. Innovation Opportunities<br />3<br />ALEE LLC<br />EXTRINSIC<br />VALUE<br />INTRINSIC<br />VALUE<br />
  4. 4. Innovation Opportunities<br />4<br />ALEE LLC<br />
  5. 5. A Common Thread for Innovation<br />ALEE LLC<br />Time offers the greatest leverage<br />5<br />
  6. 6. The Key End Goals for Innovation<br />ALEE LLC<br />EXTRINSIC<br />VALUE<br />INCREASE <br />REVENUE<br />FASTER TIME <br />TO MARKET<br />LOWER COGS<br />INTRINSIC<br />VALUE<br />6<br />
  7. 7. Innovating for Revenue<br />ALEE LLC<br />EXTRINSIC<br />VALUE<br />INCREASE <br />REVENUE<br /><ul><li>Take a customer centric perspective
  8. 8. Innovate on Better, Faster or Cheaper Outcome</li></ul>OR<br /><ul><li>Better, Faster or Cheaper Product than competitive alternatives
  9. 9. Target areas that offer the greatest leverage: ROI (Return On Innovation)
  10. 10. High Volume/Velocity
  11. 11. High complexity</li></ul>7<br />
  12. 12. The Path from Defining the Consumer to Pricing<br /> Identifying<br /> Consumer<br />Starts here<br /> Idea starts<br />here<br />Discover Who Benefits<br />Define Role<br />Innovate on how<br />They benefit<br />Vendor Centric View<br />Discover Dept<br />Owner if Applicable<br />Discover Solution<br />enablers<br />Discover<br />Market Segment<br />Determine Reason<br />For Buying<br />Discover Key<br />Success Metrics<br />Discover<br />Alternatives<br />Define<br />Market<br />Strategy<br />Discover Business/<br />Personal Outcome<br />Discover technology<br />Implications<br />Discover<br />Organizational<br />Implications<br />Discover The<br />Cost of Doing<br />Nothing<br />Discover<br />Competencies<br />Aggregate for Highest <br />Level Impact<br />Define<br />Market<br />Geography<br />Define Platform<br />Independent Solution<br />Define<br />Competition<br />Discover Cost<br />Implications<br />Qualify<br />Market<br />Opportunity<br />Validate<br />Determines<br />Consumer Hurdle<br />For Solution<br />Consumer<br />Monetization<br />Define Platform<br />Dependent Solution<br />Define<br />Channel<br />Strategy<br />Define Strategic<br />Product Investments<br />Consumer Centric View<br />Define<br />Pricing Strategy<br />ALEE LLC<br />8<br />Vendor<br />Monetization<br />
  13. 13. Rapid Results = Tools, Models and Principles<br /><ul><li>Use Case Framework
  14. 14. Throughput Model
  15. 15. Reference Business Model Prototyping
  16. 16. The Value Dynamic
  17. 17. The Buying Rationale
  18. 18. The Buying Dynamic</li></ul>Discover Who Benefits<br />Define Role<br />Innovate on how<br />They benefit<br />Vendor Centric View<br />Discover Dept<br />Owner if Applicable<br />Discover Solution<br />enablers<br /><ul><li>Reference business model prototyping
  19. 19. The Value Dynamic
  20. 20. The Buying Dynamic
  21. 21. Reference high level functional architecture</li></ul>Discover<br />Market Segment<br />Determine Reason<br />For Buying<br />Discover Key<br />Success Metrics<br />Discover<br />Alternatives<br />Define<br />Market<br />Strategy<br />Discover Business/<br />Personal Outcome<br />Discover technology<br />Implications<br />Discover<br />Organizational<br />Implications<br />Discover The<br />Cost of Doing<br />Nothing<br />Discover<br />Competencies<br />Define<br />Market<br />Geography<br />Aggregate for Highest <br />Level Impact<br />Define Platform<br />Independent Solution<br />Define<br />Competition<br />Discover Cost<br />Implications<br />Qualify<br />Market<br />Opportunity<br />Define Platform<br />Dependent Solution<br />Determines<br />Consumer Hurdle<br />For Solution<br />Define<br />Channel<br />Strategy<br />Define Strategic<br />Product Investments<br />Consumer Centric View<br />Define<br />Pricing Strategy<br />ALEE LLC<br />9<br />
  22. 22. The Key Outcomes<br /><ul><li>Clear and compelling story concerning the Who, How, What When and Where
  23. 23. Tie-in to key performance metrics
  24. 24. People/departments using specific tools to accomplish their goals
  25. 25. Traceability to higher level objectives</li></ul>Discover Who Benefits<br />Define Role<br />Innovate on how<br />They benefit<br />Vendor Centric View<br />Discover Dept<br />Owner if Applicable<br />Discover Solution<br />enablers<br /><ul><li>Clear and compelling customer value
  26. 26. Clear and compelling differentiated value over competition
  27. 27. Key customer stakeholders identified
  28. 28. Market segment attributes clearly defined
  29. 29. Strategic partnership requirements identified</li></ul>Discover<br />Market Segment<br />Determine Reason<br />For Buying<br />Discover Key<br />Success Metrics<br />Discover<br />Alternatives<br />Define<br />Market<br />Strategy<br />Discover Business/<br />Personal Outcome<br />Discover technology<br />Implications<br />Discover<br />Organizational<br />Implications<br />Discover The<br />Cost of Doing<br />Nothing<br />Discover<br />Competencies<br />Define<br />Market<br />Geography<br />Aggregate for Highest <br />Level Impact<br />Define Platform<br />Independent Solution<br />Define<br />Competition<br />Discover Cost<br />Implications<br />Qualify<br />Market<br />Opportunity<br />Define Platform<br />Dependent Solution<br />Determines<br />Consumer Hurdle<br />For Solution<br />Define<br />Channel<br />Strategy<br />Define Strategic<br />Product Investments<br />Consumer Centric View<br />Define<br />Pricing Strategy<br />ALEE LLC<br />10<br />

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