Innovation Techniques

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

Innovation Techniques

by Subbu Jois on Mar 02, 2011

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