SlideShare a Scribd company logo
1 of 55
Download to read offline
From Interpretation to Execution

               Prakash Bagri
    Indian School of Business, Hyderabad
              March 19, 2013
Product Development Perspectives:
From Experiences & Inferences
      Hi - Tech




                            India
Types of New Product Development
• New to the World

• New for the Company

• New addition (Brand/ SKU)

• New Features
   – Improvement to existing

• New Positioning or Repositioning

• New Value: Re-engineering
Why?
       •   Changing "Needs and Wants"
       •   Stage of Product Life Cycle
       •   Environmental Changes
       •   Competitors
       •   Life-line

       OR….

       • New Technology?
A few learnings
Understanding Consumer Needs

                     “Had I asked end customers,
                     all they would have said is
                     that they need a faster horse”




20-Mar-13                                             6
People don’t do what they say they do
                      People don’t do what they think they do
                       People don’t do what you think they do
                     People don’t do what you want them to do!




            The Power of Observation!

20-Mar-13                                                        7
Gripper




20-Mar-13             8
Emphatic Design:
Research based on discovering customer needs through observation



 Traditional Investigation                         Observation & Empathy
 •   Improves existing things                      •   Inspires new ideas
 •   Focus on explicit needs                       •   Uncovers latent needs
 •   Market segment based                          •   Focus on individuals
 •   Controlled settings                           •   Natural contexts
 •   Static interview                              •   Dynamic conversations
 •   Objective data                                •   Interpretive




                  Based on anthropology and ethnography
 Develop deep understanding of user environment, extrapolate into future, imagine future products
 20-Mar-13                                                                                     9
What women want?




20-Mar-13
            http://www.youtube.com/watch?v=wzp0vtMyee8   10
Developing a New Milk-shake?
20-Mar-13   12
Product Management?


          A software product company is already doing
       business and has several different kind of customers
        within their customer base, there comes a time to
        start the development process for a new release.


        What should the product management do?



3/20/2013                                                 13
Software company’s Internal Product Process:



A common answer:
Collect requirements from all the
customers and select the most
important ones from each 
that will give you the next
product release requirements
specification.

Something for everybody

Dilemma:
Which customer segment will be
really satisfied?



                                     Käppi, R. 2002
3/20/2013                                             14
Microsoft Tablet PC
                      Microsoft Tablet PC is a term coined by
                      Microsoft for tablet computers conforming
                      to a set of specifications announced in
                      2001 by Microsoft, for a pen-enabled
                      personal computer, conforming to
                      hardware specifications devised by
                      Microsoft and running a licensed copy of
                      Windows XP Tablet PC Edition operating
                      system or a derivative thereof




            Vs.

3/20/2013                                                         15
Whole Product:
Delivers the Compelling Reason to Buy



                                                                              Consulting   Hardware




                                                                                                              Complementary Products
                                              Complementary Services
                                                                       Post-sales
                                                                        service                   Software
                                                                       & support       The
                                                                                     Product
                                                                        Pre-sales               Peripherals
                                                                        services

                                                                                Legacy
                                                                               interfaces Connectivity




              The whole product is the minimum set of products and services
              needed to fulfill the target customer's compelling reason to buy.
  3/20/2013                                                                                                   16
Oracle Retail




            2000-2005
            Fashion/
                                      2003-2005
            Departmental
                                      Catalog Channel
                                                           2005-2008
            Partner – Gap/
            Nordstrom                 Partner - Williams
                                      Sonoma               Grocery/
                                                                               2007-2010
            Followup - Ross,                               Hypermarket
            Perry Ellis, Saks Fifth
                                                                               Internationalization
                                                                                                      2010-2012
            Avenue                                         Partner - Dunnes
                                                           Store               (India)
                                                           Followup -          Partner - Aditya Birla Internationalization
                                                                                                      (LatAm)
                                                           Hypercity, Tesco,   Followup -
                                                           Sainsbury’s         Landmark, Lifestyle, Partner - Grupo Pão
                                                                               Arvind Mills           de Açúcar




3/20/2013                                                                                                                    17
Adding Bells and Whistles?

                             18
Mousepad?




            19
iDrive




         20
Feature Fatigue:
Overloaded on Bells and Whistles?




                                    21
The Featuritis Curve
Technology Adoption Life Cycle




How different groups of customers adopt to discontinuous innovation at different times.

3/20/2013                                                                            23
touch
           Dealing with Features
                                                         nano
           60
Millions




           50
                                               shuffle

           40

                       classic          mini
           30


           20


           10


           0
                  2002           2003   2004    2005      2006     2007   2008   2009   2010   2011
           3/20/2013                                                                           24
                                                         Total Sales
But you can still create a WoW!




3/20/2013                         25
A Trip up the Amazon




Once merely an online bookseller, Amazon has diversified into other merchandize,
                        devices, and even web services.
                Outcome: $233 a share,, 439X trailing earnings.
                           Marketing Management in the World of
                                                                               26
                               High Technology & Innovation
The Importance of Partnerships
The first mobile phone with…




            Marketing Management in the World of
20-Mar-13                                          28
                   High-Tech & Innovation
The iPhone 5




        International network of suppliers to deliver the product 29
20-Mar-13
Stage of Product Life Cycle
                                  Product
Rate of Major Innovation




                                  Innovation
                           High                                              Process
                                                                             Innovation



                           Low




20-Mar-13                                                                                 30
http://www.coolinfographics.com/blog/2011/5/18/microsoft-acquisitions-subway-map-infographic.html

          20-Mar-13                                                                                 31
The Future of Fitness ?
http://www.youtube.com/watch?v=dG0vLFFtZDs
The Koko Fitness Experience




http://video.foxbusiness.com/v/1279673614001/booming-franchise-koko-fitclub/
 20-Mar-13                                                                 34
What is common to these industries?
The Great Disruptor!
The Technology Paradox!




            Marketing Management in the World of
20-Mar-13                                          37
                High Technology & Innovation
Changing Economic Models


• The Attention Economy

• The Gift Economy

• The Sharing Economy

• The Reputation Economy


20-Mar-13                  38
CAPTCHA
reCAPTCHA
From interpretation to execution - for New Product & Business Opportunities
From interpretation to execution - for New Product & Business Opportunities
Ideas are Nothing, Execution is Everything

      Idea                    Execution




     $ 65M                    ~ $ 13B
Take an Idea, Make it Big!
“To me, ideas are worth nothing unless
 executed. They are just a multiplier.
     Execution is worth millions.”
Audio Highway Listen Up 1997



                               IBM Simon 1992




                                                Microsoft Tablet Computer 2002
“You know, one of the things that really hurt Apple
         was ….a very serious disease.

It’s the disease of thinking that a really great idea is
 90 % of the work. And if you just tell all these other
 people “here’s this great idea,” then of course they
            can go off and make it happen.

          And the problem with that is that
there’s just a tremendous amount of craftsmanship
   in between a great idea and a great product.”
EXECUTION
In summary..
• Power of Observation

• Providing the Killer App

• Beauty of Simplicity

• Riding the Life-cycle

• Importance of Partnerships

• Internet as a Disruptor

• Execution is Everything!
India Perspective
Local Markets Considerations
 •   Critical role of distribution
 •   Affordability, experiential & promotional
 •   Dynamic evolution of channels
 •   Whole product meaning – alt energy sources!
 •   Pricing challenges – COD, EMI, PpU etc.
 •   Packaging innovations over the years




         Insights: Value, Lower-Unit Price, Disaggregation, Customization
 20-Mar-13                                                                  51
India Product Development Timeline




  1990s           2000s                      Now
  • Opening Up    • Booming Market           • Indian Innovation
  • New Players   • Made for/ in India       • New Business Models
  • Competition   • Test-bed for the World   • Globalization ??
Indian Challenges
• Agriculture  Services

• All-at-once vs Step-by-step

• Partnership Anathema

• Skill Development

• Challenging Market

• The China Factor

• Risk Taking?
The Future is bright!
• Superior people

• Discerning (rather demanding) consumers

• Amazing initiative

• Huge market
Thank You!

        @prbagri
prakash.bagri@gmail.com

More Related Content

Similar to From interpretation to execution - for New Product & Business Opportunities

Predictive Asset Optimization - Advanced Analytics
Predictive Asset Optimization - Advanced AnalyticsPredictive Asset Optimization - Advanced Analytics
Predictive Asset Optimization - Advanced AnalyticsLeonard Lee
 
Support as a Leader in Innovation: A Case Study with Cisco
Support as a Leader in Innovation: A Case Study with CiscoSupport as a Leader in Innovation: A Case Study with Cisco
Support as a Leader in Innovation: A Case Study with CisconoHold, Inc.
 
Agile product owners-what ails them (philly_dayofagile)
Agile product owners-what ails them (philly_dayofagile)Agile product owners-what ails them (philly_dayofagile)
Agile product owners-what ails them (philly_dayofagile)Anupam Kundu
 
Day 2 presentations columbia apr 2012
Day 2 presentations columbia apr 2012Day 2 presentations columbia apr 2012
Day 2 presentations columbia apr 2012Stanford University
 
Case Study: Social Business and consumerization in Banking
Case Study: Social Business and consumerization in BankingCase Study: Social Business and consumerization in Banking
Case Study: Social Business and consumerization in BankingHerbert Wagger
 
Data Insights OEP interim submission
Data Insights OEP interim submissionData Insights OEP interim submission
Data Insights OEP interim submissionSandeep Rao
 
Product Owners: What affects execution?
Product Owners: What affects execution?Product Owners: What affects execution?
Product Owners: What affects execution?Trevor Fox
 
Insync 10 session jd edwards strategy and roadmap anz (a4) - final
Insync 10 session   jd edwards strategy and roadmap anz (a4) - finalInsync 10 session   jd edwards strategy and roadmap anz (a4) - final
Insync 10 session jd edwards strategy and roadmap anz (a4) - finalInSync Conference
 
Demandware tco webinar final 12122012
Demandware tco webinar final 12122012Demandware tco webinar final 12122012
Demandware tco webinar final 12122012Thomas Roider
 
Best Practices for API Adoption
Best Practices for API AdoptionBest Practices for API Adoption
Best Practices for API AdoptionAnyPresence
 
BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...
BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...
BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...itnewsafrica
 
The shoppingpro deck-v6.05
The shoppingpro deck-v6.05The shoppingpro deck-v6.05
The shoppingpro deck-v6.05ashishgupta97065
 
Sap Mobility Presentation 5 1 2012
Sap Mobility Presentation 5 1 2012Sap Mobility Presentation 5 1 2012
Sap Mobility Presentation 5 1 2012nerb13
 
Data mining & warehousing
Data mining & warehousingData mining & warehousing
Data mining & warehousingSamoneh Dashti
 
Think Mobile As A Marketing Tool, Think Lumata
Think Mobile As A Marketing Tool, Think Lumata Think Mobile As A Marketing Tool, Think Lumata
Think Mobile As A Marketing Tool, Think Lumata Kumar Gaurav
 
SAP runs SAP Innovation Presentation, 2012 Fujitsu Forum Munich
SAP runs SAP Innovation Presentation, 2012 Fujitsu Forum MunichSAP runs SAP Innovation Presentation, 2012 Fujitsu Forum Munich
SAP runs SAP Innovation Presentation, 2012 Fujitsu Forum MunichOliver Bussmann
 
Mobile ux finding your center
Mobile ux finding your centerMobile ux finding your center
Mobile ux finding your centerdipeshut
 

Similar to From interpretation to execution - for New Product & Business Opportunities (20)

Predictive Asset Optimization - Advanced Analytics
Predictive Asset Optimization - Advanced AnalyticsPredictive Asset Optimization - Advanced Analytics
Predictive Asset Optimization - Advanced Analytics
 
Support as a Leader in Innovation: A Case Study with Cisco
Support as a Leader in Innovation: A Case Study with CiscoSupport as a Leader in Innovation: A Case Study with Cisco
Support as a Leader in Innovation: A Case Study with Cisco
 
Agile product owners-what ails them (philly_dayofagile)
Agile product owners-what ails them (philly_dayofagile)Agile product owners-what ails them (philly_dayofagile)
Agile product owners-what ails them (philly_dayofagile)
 
Day 2 presentations columbia apr 2012
Day 2 presentations columbia apr 2012Day 2 presentations columbia apr 2012
Day 2 presentations columbia apr 2012
 
Case Study: Social Business and consumerization in Banking
Case Study: Social Business and consumerization in BankingCase Study: Social Business and consumerization in Banking
Case Study: Social Business and consumerization in Banking
 
Data Insights OEP interim submission
Data Insights OEP interim submissionData Insights OEP interim submission
Data Insights OEP interim submission
 
Product Owners: What affects execution?
Product Owners: What affects execution?Product Owners: What affects execution?
Product Owners: What affects execution?
 
Insync 10 session jd edwards strategy and roadmap anz (a4) - final
Insync 10 session   jd edwards strategy and roadmap anz (a4) - finalInsync 10 session   jd edwards strategy and roadmap anz (a4) - final
Insync 10 session jd edwards strategy and roadmap anz (a4) - final
 
Demandware tco webinar final 12122012
Demandware tco webinar final 12122012Demandware tco webinar final 12122012
Demandware tco webinar final 12122012
 
Best Practices for API Adoption
Best Practices for API AdoptionBest Practices for API Adoption
Best Practices for API Adoption
 
Enigma's Architecture
Enigma's ArchitectureEnigma's Architecture
Enigma's Architecture
 
P2 2-jochen rode
P2 2-jochen rodeP2 2-jochen rode
P2 2-jochen rode
 
BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...
BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...
BYOD: Built for business, designed for end users (Feb 27, 2013 Innovation Din...
 
The shoppingpro deck-v6.05
The shoppingpro deck-v6.05The shoppingpro deck-v6.05
The shoppingpro deck-v6.05
 
Sap Mobility Presentation 5 1 2012
Sap Mobility Presentation 5 1 2012Sap Mobility Presentation 5 1 2012
Sap Mobility Presentation 5 1 2012
 
Skyline oct 2014
Skyline oct 2014Skyline oct 2014
Skyline oct 2014
 
Data mining & warehousing
Data mining & warehousingData mining & warehousing
Data mining & warehousing
 
Think Mobile As A Marketing Tool, Think Lumata
Think Mobile As A Marketing Tool, Think Lumata Think Mobile As A Marketing Tool, Think Lumata
Think Mobile As A Marketing Tool, Think Lumata
 
SAP runs SAP Innovation Presentation, 2012 Fujitsu Forum Munich
SAP runs SAP Innovation Presentation, 2012 Fujitsu Forum MunichSAP runs SAP Innovation Presentation, 2012 Fujitsu Forum Munich
SAP runs SAP Innovation Presentation, 2012 Fujitsu Forum Munich
 
Mobile ux finding your center
Mobile ux finding your centerMobile ux finding your center
Mobile ux finding your center
 

More from Prakash Bagri

Economic Times Masterclass: Operationalizing Change 150316
Economic Times Masterclass:  Operationalizing Change 150316Economic Times Masterclass:  Operationalizing Change 150316
Economic Times Masterclass: Operationalizing Change 150316Prakash Bagri
 
Special Address at The Economic Times Masterclass on Rural Marketing. Decemb...
Special Address at The Economic Times Masterclass on Rural Marketing.  Decemb...Special Address at The Economic Times Masterclass on Rural Marketing.  Decemb...
Special Address at The Economic Times Masterclass on Rural Marketing. Decemb...Prakash Bagri
 
Who wants to be an entrepreneur?
Who wants to be an entrepreneur?Who wants to be an entrepreneur?
Who wants to be an entrepreneur?Prakash Bagri
 
Next Leap of Distribution
Next Leap of DistributionNext Leap of Distribution
Next Leap of DistributionPrakash Bagri
 
The Power of Ace (Adoption, Change & Execution)
The Power of Ace (Adoption, Change & Execution)The Power of Ace (Adoption, Change & Execution)
The Power of Ace (Adoption, Change & Execution)Prakash Bagri
 

More from Prakash Bagri (6)

Economic Times Masterclass: Operationalizing Change 150316
Economic Times Masterclass:  Operationalizing Change 150316Economic Times Masterclass:  Operationalizing Change 150316
Economic Times Masterclass: Operationalizing Change 150316
 
Special Address at The Economic Times Masterclass on Rural Marketing. Decemb...
Special Address at The Economic Times Masterclass on Rural Marketing.  Decemb...Special Address at The Economic Times Masterclass on Rural Marketing.  Decemb...
Special Address at The Economic Times Masterclass on Rural Marketing. Decemb...
 
Who wants to be an entrepreneur?
Who wants to be an entrepreneur?Who wants to be an entrepreneur?
Who wants to be an entrepreneur?
 
Next Leap of Distribution
Next Leap of DistributionNext Leap of Distribution
Next Leap of Distribution
 
Driving Disruption
Driving DisruptionDriving Disruption
Driving Disruption
 
The Power of Ace (Adoption, Change & Execution)
The Power of Ace (Adoption, Change & Execution)The Power of Ace (Adoption, Change & Execution)
The Power of Ace (Adoption, Change & Execution)
 

From interpretation to execution - for New Product & Business Opportunities

  • 1. From Interpretation to Execution Prakash Bagri Indian School of Business, Hyderabad March 19, 2013
  • 2. Product Development Perspectives: From Experiences & Inferences Hi - Tech India
  • 3. Types of New Product Development • New to the World • New for the Company • New addition (Brand/ SKU) • New Features – Improvement to existing • New Positioning or Repositioning • New Value: Re-engineering
  • 4. Why? • Changing "Needs and Wants" • Stage of Product Life Cycle • Environmental Changes • Competitors • Life-line OR…. • New Technology?
  • 6. Understanding Consumer Needs “Had I asked end customers, all they would have said is that they need a faster horse” 20-Mar-13 6
  • 7. People don’t do what they say they do People don’t do what they think they do People don’t do what you think they do People don’t do what you want them to do! The Power of Observation! 20-Mar-13 7
  • 9. Emphatic Design: Research based on discovering customer needs through observation Traditional Investigation Observation & Empathy • Improves existing things • Inspires new ideas • Focus on explicit needs • Uncovers latent needs • Market segment based • Focus on individuals • Controlled settings • Natural contexts • Static interview • Dynamic conversations • Objective data • Interpretive Based on anthropology and ethnography Develop deep understanding of user environment, extrapolate into future, imagine future products 20-Mar-13 9
  • 10. What women want? 20-Mar-13 http://www.youtube.com/watch?v=wzp0vtMyee8 10
  • 11. Developing a New Milk-shake?
  • 12. 20-Mar-13 12
  • 13. Product Management? A software product company is already doing business and has several different kind of customers within their customer base, there comes a time to start the development process for a new release. What should the product management do? 3/20/2013 13
  • 14. Software company’s Internal Product Process: A common answer: Collect requirements from all the customers and select the most important ones from each  that will give you the next product release requirements specification. Something for everybody Dilemma: Which customer segment will be really satisfied? Käppi, R. 2002 3/20/2013 14
  • 15. Microsoft Tablet PC Microsoft Tablet PC is a term coined by Microsoft for tablet computers conforming to a set of specifications announced in 2001 by Microsoft, for a pen-enabled personal computer, conforming to hardware specifications devised by Microsoft and running a licensed copy of Windows XP Tablet PC Edition operating system or a derivative thereof Vs. 3/20/2013 15
  • 16. Whole Product: Delivers the Compelling Reason to Buy Consulting Hardware Complementary Products Complementary Services Post-sales service Software & support The Product Pre-sales Peripherals services Legacy interfaces Connectivity The whole product is the minimum set of products and services needed to fulfill the target customer's compelling reason to buy. 3/20/2013 16
  • 17. Oracle Retail 2000-2005 Fashion/ 2003-2005 Departmental Catalog Channel 2005-2008 Partner – Gap/ Nordstrom Partner - Williams Sonoma Grocery/ 2007-2010 Followup - Ross, Hypermarket Perry Ellis, Saks Fifth Internationalization 2010-2012 Avenue Partner - Dunnes Store (India) Followup - Partner - Aditya Birla Internationalization (LatAm) Hypercity, Tesco, Followup - Sainsbury’s Landmark, Lifestyle, Partner - Grupo Pão Arvind Mills de Açúcar 3/20/2013 17
  • 18. Adding Bells and Whistles? 18
  • 19. Mousepad? 19
  • 20. iDrive 20
  • 21. Feature Fatigue: Overloaded on Bells and Whistles? 21
  • 23. Technology Adoption Life Cycle How different groups of customers adopt to discontinuous innovation at different times. 3/20/2013 23
  • 24. touch Dealing with Features nano 60 Millions 50 shuffle 40 classic mini 30 20 10 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 3/20/2013 24 Total Sales
  • 25. But you can still create a WoW! 3/20/2013 25
  • 26. A Trip up the Amazon Once merely an online bookseller, Amazon has diversified into other merchandize, devices, and even web services. Outcome: $233 a share,, 439X trailing earnings. Marketing Management in the World of 26 High Technology & Innovation
  • 27. The Importance of Partnerships
  • 28. The first mobile phone with… Marketing Management in the World of 20-Mar-13 28 High-Tech & Innovation
  • 29. The iPhone 5 International network of suppliers to deliver the product 29 20-Mar-13
  • 30. Stage of Product Life Cycle Product Rate of Major Innovation Innovation High Process Innovation Low 20-Mar-13 30
  • 32. The Future of Fitness ?
  • 34. The Koko Fitness Experience http://video.foxbusiness.com/v/1279673614001/booming-franchise-koko-fitclub/ 20-Mar-13 34
  • 35. What is common to these industries?
  • 37. The Technology Paradox! Marketing Management in the World of 20-Mar-13 37 High Technology & Innovation
  • 38. Changing Economic Models • The Attention Economy • The Gift Economy • The Sharing Economy • The Reputation Economy 20-Mar-13 38
  • 43. Ideas are Nothing, Execution is Everything Idea Execution $ 65M ~ $ 13B
  • 44. Take an Idea, Make it Big!
  • 45. “To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.”
  • 46. Audio Highway Listen Up 1997 IBM Simon 1992 Microsoft Tablet Computer 2002
  • 47. “You know, one of the things that really hurt Apple was ….a very serious disease. It’s the disease of thinking that a really great idea is 90 % of the work. And if you just tell all these other people “here’s this great idea,” then of course they can go off and make it happen. And the problem with that is that there’s just a tremendous amount of craftsmanship in between a great idea and a great product.”
  • 49. In summary.. • Power of Observation • Providing the Killer App • Beauty of Simplicity • Riding the Life-cycle • Importance of Partnerships • Internet as a Disruptor • Execution is Everything!
  • 51. Local Markets Considerations • Critical role of distribution • Affordability, experiential & promotional • Dynamic evolution of channels • Whole product meaning – alt energy sources! • Pricing challenges – COD, EMI, PpU etc. • Packaging innovations over the years Insights: Value, Lower-Unit Price, Disaggregation, Customization 20-Mar-13 51
  • 52. India Product Development Timeline 1990s 2000s Now • Opening Up • Booming Market • Indian Innovation • New Players • Made for/ in India • New Business Models • Competition • Test-bed for the World • Globalization ??
  • 53. Indian Challenges • Agriculture  Services • All-at-once vs Step-by-step • Partnership Anathema • Skill Development • Challenging Market • The China Factor • Risk Taking?
  • 54. The Future is bright! • Superior people • Discerning (rather demanding) consumers • Amazing initiative • Huge market
  • 55. Thank You! @prbagri prakash.bagri@gmail.com