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Innovation Techniques

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Summary of Innovation Techniques

Summary of Innovation Techniques

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    Innovation Techniques Innovation Techniques Presentation Transcript

    • Innovations
      A Brief introduction to Techniques in
    • Revolutionary Innovation
      Discontinuous
      An innovation that creates a new market by allowing customers to solve a problem in a radically new way.
      Examples - Automobiles
    • Evolutionary Innovation
      An innovation that improves a product in an existing market in ways that customers are expecting. 
      Driven by
      Improved quality, Creation of new markets, Extension of the product range, Reduced labour costs, Improved production processes, Reduced materials, Reduced environmental damage, Replacement of products/services, Reduced energy consumption, Conformance to regulations
      Examples
      Carburetor vs. Fuel injection systems
    • Disruptive Innovation
      An innovation that disrupts an existing market. 
      An innovation that creates a new (and unexpected) market by applying a different set of values.
      Examples
      Mobile vs. Land line
      E mail vs. Snail mail
      Digital Photography vs. Chemical Photography
    • Bass Diffusion Model
      Process of how new products get adopted as an interaction between users and potential users
      Empirical model for predicting new product growth for consumer products
      Most popularly cited model
    • Everett Rogers’ Diffusion of Innovation
      Diffusion of Innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread through cultures.
      Innovators
      “Pull” the Change. Brave.
      Early Adopters
      Opinion Leaders, Try out new ideas, but careful. Respectable
      • Early Majority
      • Careful but accept change, Thoughtful
      • Late Majority
      • Will follow Majority. Skeptics
      • Laggards
      • Care for old ways, Critical on new ideas, will accept new idea only once it is mainstream, Traditional
    • Crossing the chasm
      Geoff Moore’s extension to Diffusion of Innovation
      There is a chasm between the early adopters ofthe product - (the technology enthusiasts and visionaries) and the early majority (the pragmatists).
      Visionaries and Pragmatists have very different expectations, and he attempts to explore those differences and suggest techniques to successfully cross the "chasm," including
      Choosing a target market
      Understanding the whole product concept, 
      Product Positioning
      Building a marketing strategy,
      Choosing the most appropriate distribution channel 
      Pricing.
    • Technology Acceptance Model (TAM)
      Describes how users come to accept and use a technology.
      The model suggests that when users are presented with a new technology, a number of factors influence their decision about how and when they will use it, notably:
      Perceived usefulness (PU) - This was defined by Fred Davis as "the degree to which a person believes that using a particular system would enhance his or her job performance".
      Perceived ease-of-use (PEOU) - Davis defined this as "the degree to which a person believes that using a particular system would be free from effort"
    • New product development
    • New Product Development
      Complete process of bringing a new  product  or service to market.
      Two parallel paths :
      Idea generation, product design and detail engineering;
      Market research and marketing analysis.
      Stages
      Idea Generation
      Idea Screening
      Concept Development and Testing
      Business Analysis
      Beta Testing and Market Testing
      Technical Implementation
      Commercialization (often considered post-NPD)
      New Product Pricing
    • Subbu Joisjois@360buzzads.com+91 99451 03337