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Mahesh Punia Live Bean   7th Annual Digital Africa Summit
 

Mahesh Punia Live Bean 7th Annual Digital Africa Summit

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Bridging the Gap Between

Bridging the Gap Between
Customer Needs and Technology Innovation

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    Mahesh Punia Live Bean   7th Annual Digital Africa Summit Mahesh Punia Live Bean 7th Annual Digital Africa Summit Presentation Transcript

    • “Convergence & Innovation Excellence Driving Positive Change” Bridging the Gap Between Customer Needs and Technology Innovation Crossing the Chasm! Presented by: Mahesh Punia CEO, LiveBean Consulting maheshpunia@livebean.net www.livebean.net
    • References sources: Crossing The Chasm… Geoffrey A Moore A Summary of Crossing The Chasm… Jonathan S Linowes Theory of Diffusion of Innovation… Everett Rogers Technology Adoption Lifecycle… George M Beal, Joe M Bohlen and Everett Rogers maheshpunia@livebean.net www.livebean.net
    • Bridging the Gap Between Customer Needs and Technology Innovation Crossing the Chasm! maheshpunia@livebean.net www.livebean.net
    • Which Gap? • Gap between a ‘great product’ and its Adoption by targeted end-users • Gap between Investment & Return on Investment • Gap between a product / technology that was great but could not be really successful • Gap between a great product and a support mechanism • Gap in the number of new start-ups and those which survive maheshpunia@livebean.net www.livebean.net
    • Understanding the ‘Gap’: A market is defined as: a set of actual or potential customers for a given set of products or services who have a common set of needs or wants, and who reference each other when making a buying decision Least intuitive, but is the key to successful high-tech marketing- - the tendency of the members of this group to reference each other when making buying decisions maheshpunia@livebean.net www.livebean.net
    • Is it a Smooth Bell Curve? Business Planning Gap: is the assumption that adoption of all new products / technology will follow a smooth bell curve and the way to build a market is to work the curve from from left to right, progressively winning each group users BUT………. maheshpunia@livebean.net www.livebean.net
    • Understanding the ‘Gap’: Many ventures Fail trying to make it across this chasm There are gaps in the curve, between each phase of the cycle This represents a disassociation between any two groups – the difficulty any group will have in accepting a new product if it is presented the same way as it was to the group on its immediate left The largest crack is between the Early adopters and Early majority – this is referred to as the CHASM maheshpunia@livebean.net www.livebean.net
    • Early Adopters: Early Adopters -You can succeed with the visionaries - visionaries and get a reputation of a hig flyer - match an emerging technology with a hot product to a strategic opportunity - But this is not where the dollars are. - driven by business goal, not a technology goal - The real funds / profits are in the - often fund new technologies hands of more prudent souls who do - start out with a pilot project not want to be pioneers – the pragmatists maheshpunia@livebean.net www.livebean.net
    • Early Majority – the pragmatists: Early Majority - On the other hand if you can sell to - Care about who they are the pragmatists within a niche buying from vertical, they tend to be loyal and - Quality of the product refer you. - tend to be ‘vertically’ oriented - This reduces cost of sales as compared to the technology - This increases the leverage on enthusiasts and early adopters incremental R&D support - Not easy to break in to a new market selling to pragmatists – they need references maheshpunia@livebean.net www.livebean.net
    • Visionary vs. Pragmatist: quot;Pragmatists are NOT anxious to reference visionaries in their buying decisions” Four fundamental characteristics of visionaries that alienate pragmatists: 1. Lack of respect for colleagues' experiences. 2. Taking greater interest in technology than in their industry. 3. Failing to recognize the importance of existing product infrastructure. 4. Overall disruptiveness. maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm: Crossing the Chasm requires the following steps: 1. Capture real needs of the customers • Is it something that will add value to customers at large? • Do they want it or is it that you think that they want it? • Are they willing to pay for it? What counts is not what they SAY, but WHAT they PAY • Being customer centric rather than product centric – take an outside in approach maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm: 2. Focused / niche / segmented marketing • Focus in a single market, create a beachhead • Win domination over a small specific markets to establish market leadership and use it as a springboard for adjacent extended markets • Pragmatists like to buy from market leaders. • But, if you are yet to cross the chasm then by definition you are not a market leader • The only right strategy is then to take a ‘big fish, small pond’ approach • Have discipline to be market driven rather sales driven – helps to establish a strong word-of-mouth reputation To create a pragmatist customer base, we must ensure that our first set of customers completely satisfy their buying objectives maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm: 1. Capture real needs of the customers 2. Focused / niche / segmented marketing 3. Application vs. Platforms • Most innovations are more likely to be championed by end users rather than the technology professionals that operate the current technology • If end user see that the application fixes a mission-critical business process, they then insist in its deployment in spite of IT department’s reluctance To accelerate adoption of new innovative platforms, then, the innovators / vendors must clothe them in applications clothing maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm is critical for the survivability of new technology / products and A focused planned niche segment strategy is the solution maheshpunia@livebean.net www.livebean.net
    • Thank You maheshpunia@livebean.net www.livebean.net