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Barry Feig's Lecture

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Researching to find the next great idea.

Researching to find the next great idea.

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  • Now, he's starting to walk again with the help of prosthetic legs outfitted with Bluetooth technology more commonly associated with hands-free cell phones. "They're the latest and greatest," Bleill said, referring to his groundbreaking artificial legs.

Transcript

  • 1. New Technology is Not the Answer New Technology is Merely a Tool. In fact, Apple has disbanded it’s tech department How do we create them
  • 2. Lets Talk About Technology What Are Your Thoughts?
  • 3. The Innovations Triangle
  • 4. Technological Innovation is Not What Drives Sales “ People do. Find out what turns them on. Companies should use the mind of the ultimate users of products to innovate for them. And who better to do that than their ultimate buyers and users.” Eric Van Hipple Democratizing Innovation
  • 5. Developing innovation is not hard. It’s Easy
    • Don't listen to the experts
    • Find out what the crowds want…and make it for them.
  • 6. MTS is the Largest Cell Phone Provider in Russia
    • They actually have they're research
    • staff live with their customers .
  • 7. Let's See How MTS Did It MTS, the largest cell phone provider in Russia had a problem. In the Russian consumer mobile phone market, calls that were sent from cell phones cost money. Calls that were accepted from cell phones were free. Consumers (not business buyers), would not generate calls. The mission was to get these people to call from their cell phones to increase revenue. MTS came up with a program based on my earlier book, "Hot Button Marketing." They decided to use emotions to motivate consumers to generate calls.
  • 8. A Little Bit More About MTS
    • They added features like Internet access, that almost begged to be used. They knew kids would be more likely to make outgoing calls so MTS bought used, kid friendly phones and gave them away to the kids for free. Then they added new services they knew kids would like and a created a great many fun programs that would make it very desirable to call. They placed an emphasis on text messaging. Sales were enormous.
  • 9. Now the Bluetooth Story
    • Joshua Bleill lost both his legs above the knees. Now, he's starting to walk again with the help of prosthetic legs outfitted with Bluetooth technology more commonly associated with hands-free cell phones . Computer chips in each leg send signals to motors in the artificial joints so the knees and ankles move in a coordinated fashion. Bleill's set of prosthetics have Bluetooth receivers strapped to the ankle area. The Bluetooth device on each leg tells the other leg what it's doing, how it's moving, whether walking, standing or climbing steps, for example. "They mimic each other, so for stride length, for amount of force coming up, going uphill, downhill and such, they can vary speed and then to stop them again.”
    Lets see how it really works
  • 10.  
  • 11. But Technology By Itself, Doesn’t Sell
    • A company developed a new web site without investing in up-front research. My mission as a new product specialist, (as I found out later), was to put the final nail in the coffin. " A strange thing happened along the way to easing the website to its final resting place. We found that by developing a new positioning and making key product changes, the product would be a hit. Unfortunately the principals ran out of money and the product remains today "on the cutting room floor." It wouldn't have happened if they had tested the consumer waters first.
  • 12. About Pepsi
    • Pepsi Cola spent millions and millions of dollars introducing a cola product that was clear. Why did they do this...who knows? They got the feature confused with the benefit. What is the benefit of a new cola color? Who knows? Obviously not the consumer. The product died quickly. Why did they do it? Because they could.
    So what’s the answer? Does anybody have any ideas?
  • 13. So, What’s the Answer?
    • Last time I was out here a product manager said she couldn't get her ideas passed through R&D because R&D wouldn’t listen to marketing. This is the question I get across the world.
    • The answer is to get all the people on the same playing field.
    • I’m going to show you how.
  • 14. Your Team
  • 15. Consumer Insights
  • 16. Let’s Talk About a New kind of Segmentation
    • It’s Called Heartfelt Segmentation
  • 17. We Need Customer Innovation to Drive Growth
    • What will help to drive growth?
    Bigger, Better Innovations Maximize impact of innovations through consistent integrated execution Stretch benefit of innovations over longer period of time Create points of difference through brand experience
  • 18. How to Identify True Consumer Insights This is what we normally see
  • 19. We Only See the Surface of the Iceberg But miss the big part under the water Facts vs. Insights
  • 20. Most Thought, Emotion and Learning Occur Without Awareness In the hidden depths of the consumer mind
  • 21. So How Do We Get Those Insights and Set the Stage for Innovation
    • Most Companies Do it Backwards
    • Most companies come up with a product
    • and try to sell it to someone.
    • The right way is to find out what consumers want and make it for them
  • 22. Criteria for Success
    • Is the customer problem real and does it exist now?
    • Who is the customer and what's their compelling reason to buy?
    • Do we understand the problem and can we solve it?
    • Is there an existing alternative already being provided by a competitor?
    • Does it fit our core competencies?
    • Most important – can profitability be built into the process?
  • 23. What’s Wrong With this Picture? Ideas enter funnel Maybe one to five make the cut
  • 24. Keep Adding Ideas
  • 25. Let Qualitative Testing Be Your Guide
    • Based on his experience in managing new businesses, a successful new product developer believes that there is no substitute for an in-depth interview (polls do not suffice). "Once an idea passes this hurdle, then more formal discussions or a presentation can be scheduled," he says.
  • 26. Once Again, We’re Going to Validate Your Idea Through…
    • QUESTIONING
    • ??????
    Through departments. Through customers Through suppliers. Through media contacts.
  • 27. Where Do Ideas Come From? A Brainstorming Review
    • Ideas come from your task force, your customers, your suppliers, your management, your company archives.
    We’re not looking for big ideas in at first. This is a major fault in brainstorming companies. Instead look for seeds that can grow into a big idea.
  • 28. A Few Brainstorming Tools
    • Scammper
    • Wishing
    • Metaphors
    • Word games
    • Personalization
    • Questioning
    • The key is to formalize mind chatter – ideas waiting to break free – and to write them down.