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From Innovation To Profit


As companies begin to look beyond the latest global economic crisis, many are refocusing on growth and innovation has once again become a priority. …

As companies begin to look beyond the latest global economic crisis, many are refocusing on growth and innovation has once again become a priority.

What strategies are the most successful companies employing to tap into new opportunities and overcome business barriers? When and how does a leader’s input have the most impact? When should management give employees the freedom to experiment?

About The AIPMM
The Association of International Product Marketing and Management (AIPMM), founded in 1998, promotes worldwide excellence in product management education and provides training, education, certification and professional networking opportunities. With members in 65 countries, the AIPMM is the Worldwide Certifying Body of product team professionals and offers globalized trainings and credentials localized for specific markets designed to meet the challenges of a constantly changing business landscape. As the only professional organization that addresses the entire product lifecycle from inception to obsolescence in any industry, the AIPMM supports strategic partners with offerings in Europe, the Middle East, Australia, and SouthEast Asia, as well as North America.

AIPMM Membership benefits include the national Product Management Educational Conference, regional conferences, the Career Center, peer Forums, tools, templates, publications and eligibility to enroll in the Certification Programs. The Agile Certified Product Manager® (ACPM), Certified Product Manager® (CPM), Certified Product Marketing Manager® (CPMM), Certified Brand Manager® (CBM), and Certified Innovation Leader (CIL) programs allow individual members to demonstrate their level of expertise and provide corporate members an assurance that their product professionals are operating at peak performance.
Subscribe: http://www.aipmm.com/subscribe
LinkedIn: http://www.linkedin.com/company/aipmm
Membership: http://www.aipmm.com/join.php
Certification: http://aipmm.com/html/certification
Webinar Series: http://aipmm.com/aipmm_webinars/
Articles: http://www.aipmm.com/html/newsletter/article.php

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  • 1. Innovation to Profit
    Hector Del Castillo
  • 2. Sponsors
    Thank You Sponsors !!!
  • 3. About Hector
    Hector Del Castillo
    Expertise:  10+ years in Product Management and Marketing
    Passion: Transforming products and services to profit and
    giving career advice
    Professional Background: 
    Launched 25 high technology products and features resulting in over $20M in achieved global sales revenue.
    Certified Product Manager (CPM), and Certified Product Marketing Manager (CPMM)
    Current Employment: 
    Director, Program Development at MEI Technologies, Inc.
    Senior Product Marketing Manager and Trainer at AIPMM
    Master of Science in Electrical Engineering from the University of California at Santa Barbara and the University of Texas at El Paso
    Bachelor of Science in Electrical Engineering from the University of Texas at El Paso
  • 4. What We Will Discuss
    What is innovation
    Why your company needs innovation
    How to transform innovation to profit
    Tips to foster innovation
    Ways to reduce risk
  • 5. Poll
    What are the biggest barriers to fostering innovation within your company?
    Poor management
    Insufficient investment
    Lack of innovative people
    Inadequate planning
    Cannot afford the risk
  • 6. Fortune’s Most Innovative Companies
    Source: FORTUNE Magazine, 22 Mar 2010
  • 7. IBM 2010 Global CEO Study
    Fostering innovation to manage increasing complexity is the most critical success factor for company executives
    Most CEOs believe that the business environment is increasingly volatile, uncertain and complex.
    Eight in ten CEOs expect their environment to grow significantly more complex.
    Only 49 percent believe their companies are equipped to manage complexity effectively.
  • 8. McKinsey 2010 Global Survey
    Innovation has once again become a priority for company executives.
    84% - innovation is extremely or very important to their companies’ growth strategy.
    50% - need a more robust pipeline of big ideas
    Only 55% - innovate better than their peers
  • 9. What is Innovation?
    “I’ll be happy to give you innovative thinking.
    What are the guidelines?”
  • 10. Defining Innovation
    All these experts say:
    Innovation is complex, involves risk, and its outputs are unpredictable.
    Innovation is “the commercial or industrial application of something new—a new product, process or method of production; a new market or sources of supply; a new form of commercial business or financial organization.” Schumpeter, Theory of Economic Development
    Innovation is the intersection of invention and insight, leading to the creation of social and economic value. Council on Competitiveness, Innovate America, National Innovation Initiative Report, 2004
    Innovation covers a wide range of activities to improve firm performance, including the implementation of a new or significantly improved product, service, distribution process, manufacturing process, marketing method or organizational method. European Commission, Innobarometer 2004
    Innovation—the blend of invention, insight and entrepreneurship that launches growth industries, generates new value and creates high value jobs. The Business Council of New York State, Inc., Ahead of the Curve, 2006
    The design, invention, development and/or implementation of new or altered products, services, processes, systems, organizational models for the purpose of creating new value for customers and financial returns for the firm. Committee, Department of Commerce, Federal Register Notice, Measuring Innovation in the 21st Century Economy Advisory, April 13, 2007
    An innovation is the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations. Innovation activities are all scientific, technological, organizational, financial and commercial steps which actually, or are intended to, lead to the implementation of innovations. OECD, Oslo Manual, 3rd Edition, 2005
    Innovation success is the degree to which value is created for customers through enterprises that transform new knowledge and technologies into profitable products and services for national and global markets. A high rate of innovation in turn contributes to more market creation, economic growth, job creation, wealth and a higher standard of living. 21st CenturyWorking Group, National Innovation Initiative, 2004
    Source: ‘Measuring Innovation and Intangibles: A Business Perspective’, Science and Technology Policy Institute of the Institute for Defense Analyses (IDA), 3 Dec 2008.
  • 11. Innovation is…
    A change in the thought process for doing something, or the useful application of new inventions or discoveries.
    An incremental emergent or radical and revolutionary changes in thinking, products, processes, or organizations.
    Requires a formal process to capture ideas and find ways to implement them.
  • 12. Myth or Fact?
    Innovation requires risk that most companies cannot afford.
  • 13. Harnessing Innovation
    Ideas are not enough; you must find a way to integrate them into your company’s culture, strategy, processes, and portfolio… and make a profit!
  • 14. Product Management Life Cycle
    Source: AIPMM, © 1998-2011, All Rights Reserved.
  • 15. Product Management Framework
  • 16. Innovation Funnel
    7 Steps:
  • 17. Integrating Innovation
  • 18. Marketing Mix Innovation
    Place [Distribution]
    Physical Proof
  • 19. Online DVD Rental Market
  • 20. Myth or Fact?
    In this economy, companies need innovation to survive.
  • 21. Benefits of Innovation
    Improved business efficiency through optimized practices
    Shortened time-to-market through improved tools
    Enhanced market penetration through adoption of disruptive technologies
    Superior product delivery and pricing
    Increased product value for customers
    Improved profitability for your company
  • 22. Tips for Fostering Innovation
    Adopt a formalized process to gather, capture and organize ideas.
    Create alignment within your product team and company.
    Communicate the importance of innovation.
    Encourage innovation throughout the product life cycle.
    Gather and capture ideas internally and externally.
    Promote open communication and problem solving.
    Empower leaders to be creative and propose solutions.
    Create a relaxed, fun, and openenvironment.
    Recruit and reward innovative people.
    Benchmark your products and processes with your competitors.
  • 23. What is the most important task for a Product Manager?
    Maximize revenue for products.
    Lead product development activities.
    Reduce development cost for products.
    Maximize profit for products.
    Serve as the product CEO.
  • 24. Conclusion
    Innovation is essential for your company’s survival.
    Innovation can result in incremental emergence or radical changes in business model, strategy, processes, technologies, tools, or products.
    There are many options to foster innovation while reducing risk.
    Innovation can significantly increase your company’s value and profitability by focusing on enhancing your products’ value.
  • 25. Join AIPMM!
    Network with thought leaders.
    Expand your knowledge and soft skills.
    Learn best practices and methodologies.
    Opportunities to lead activities.
    Get certified; validate your expertise!
    Execute your professional career plan.
  • 26. AIPMM Certifications
    AIPMM offers 3 internationally recognized certifications for Product Managers, Product Marketing Managers and Brand Managers to validate your expertise:
    • Certified Product Manager (CPM)
    • 27. Certified Product Manager (CPMM)
    • 28. Agile Certified Product Manager (ACPM)
  • Why Get Certified?
    Internationally recognized across industries
    Provides mark of distinction that sets you apart
    Provides external validation of your expertise
    Demonstrates commitment to your profession
    Improves opportunity for career advancement
    Connects you with experts and thought leaders
    May persuade your company to provide or expand professional development opportunities
  • 29. Useful Links
    Association of International Product Marketing & Management
    Presentation Slides: http://www.aipmm.com/ProductCampChicago
    Website: http://www.aipmm.com
    Articles: http://www.aipmm.com/html/newsletter/article.php
    Blogs: http://aipmm.com/anthropology/
    Webinars: http://aipmm.com/aipmm_webinars/
    Certification: http://aipmm.com/html/certification/
    Product Management Framework Brochure: http://www.aipmm.com/brochures/AIPMM_PMF.pdf
  • 30. Innovation to Profit
    Hector Del Castillo