Gretchen Goffe (Director of the Innovation Initiative @ Fisher College of Business) shares consumer trends and how to connect them to industries to create meaningfull innovations at Innovation CAMP 2013.

1. SEEING OPPORTUNITY IN CHANGE
1

2. 2 VIEWS OF CHANGE
Resistors Challengers
See Risk See Potential
Ask Why? Ask Why not?
Already is Could be
Too small/niche Open space
Best customers New customers
Maintain position New order
2

3. HOW CAN WE SEE
OPPORTUNITY IN CHANGE?
Trends are a way to look at what’s
coming, and actively speculate on the
disruption and opportunity
that could be available.
3

4. Today, we’ll look at two types:
TRENDS in an industry
Near-term opportunities, 12-24 months
Illustrate with examples for context
Go deep: implications, opportunities
4

5. Today, we’ll look at two types:
TRENDS that challenged an industry
No one has combined peanut butter and
chocolate yet
5

6. Today, we’ll look at two types:
TRENDS that challenged an industry
No one has combined peanut butter and
chocolate yet
With an exercise called TRENDstorming
6

7. TRENDstorming
trend
+ industry
LIVING ALONE:
Single households are more prevalent
An exercise to overlay trends and your category to
forsee change and opportunities for disruption
Copyright , 2013 Fisher College of Business, and Gretchen Goffe- Reproduction & distribution prohibited without written permission

8. TRENDstorming
trend coffee
An exercise to overlay trends and your category to
forsee change and opportunities for disruption
Copyright , 2013 Fisher College of Business, and Gretchen Goffe- Reproduction & distribution prohibited without written permission

9. TRENDstorming
trend coffee
?
Copyright , 2013 Fisher College of Business, and Gretchen Goffe- Reproduction & distribution prohibited without written permission

10. TREND
2
trend
.
ê BRAND AUTHORITY
The shift in power to consumers from brands –
consumers dictate the terms (where, how and for
how much) of the relationship, rather than brands
10

11. TRENDstorm overlays trends and your category to forsee change
Movie Rentals/
Blockbuster .2 TREND
ê
BRAND
AUTHORITY
NETFLIX
REDBOX
Could Blockbuster have seen change coming?
Do you think they should have invested in a diversified model?
Why or why not?
Copyright , 2013 Fisher College of Business, and Gretchen Goffe- Reproduction & distribution prohibited without written permission

12. TREND
1.
trend
CROWDSOURCING
The practice of obtaining needed services, ideas,
or content by soliciting contributions from a large
group of people, and especially from an online
community, rather than from traditional
employees or suppliers.
12

13. EXAMPLE
Financial services
.1 TREND
CROWDSOURCING
KICKSTARTER
Kickstarter is part of a rapidly growing ‘social funding’ movement
that connects individuals in a voluntary community, giving capital access to projects and people they value
and opening up a whole other way for ideas to get to market.
Copyright , 2013 Fisher College of Business, and Gretchen Goffe- Reproduction & distribution prohibited without written permission

14. TRENDS: PAST &
PRESENT
14

15. TREND
1
trend
.
CROWDSOURCING
The practice of obtaining needed services, ideas,
or content by soliciting contributions from a large
group of people, and especially from an online
community, rather than from traditional
employees or suppliers.
15

16. TREND
2
trend
.
ê BRAND AUTHORITY
The shift in power to consumers from brands –
consumers dictate the terms (where, how and for
how much) of the relationship, rather than brands
16

17. TREND
3
trend
.
COLLECTIVE
CONSUMPTION
Fractional ownership or usage of services/things
you don’t need all the time.
17

18. TREND
4
trend
.
SCREEN CULTURE
Thanks to the continued explosion of touchscreen
smartphones, tablets, and the “cloud’, the screen
culture will be not only more pervasive but more
personal, more immersive and more interactive
than ever.
18

19. TREND
5
trend
.
DIY HEALTH
Consumers take advantage of new technologies
and apps to discreetly and continuously track,
manage and be alerted to any changes in their
personal health.
19

20. TREND
6
trend
.
DEALER CHIC
Consumers continue to hunt for deals and
discounts, but they will do so with relish. Deals
are now about more than just saving money; it’s
about the thrill, the pursuit, the control, and the
perceived smartness, and thus a source of status
too.
20

21. TREND
7
trend
.
CASH-LESS
Will coins and notes completely disappear in
2012. No. But a cashless feature is (finally) upon
us, as major players such as MasterCard and
Google work to build a whole new eco-system of
payments, rewards and offers around new mobile
technologies.
21

22. TREND
8
trend
.
MAKER MOVEMENT
The Maker Movement reflects the technological,
political, and economic zeitgeist: the need for a
technologically skilled work force, hope for a
revival of American manufacturing, concern about
STEM education all the while cutting many of the
programs in schools that foster these skills – arts,
wood shop, metal shop, computer science – to
make more room for standardized testing.
22

23. TREND
9
trend
.
IDLE SOURCING
Anything that makes it downright simple- if not
completely effortless- for consumers to contribute
to something will be more popular than ever in
2012. Unlocked by the spread of ever smarter
sensors in mobile phones, people will not only be
able but increasingly willing to broadcast
information about where and what they are
doing, to help improve products and services.
23

24. TREND
10
trend
.
USER GENERATED
CONTENT
Brands cede control to users, recognizing and
providing a forum for users opinions, reviews,
points of view and other content.
24

25. TREND
11
trend
.
INGREDIENT: CORN
Corn is in demand- for fuel, for human food and
for animal feed. How will the growing demand for,
and consumption of, corn affect us?
25

26. TREND
12
trend
.
ECO-CYCOLOGY
Brands will increasingly take back all of their
products for recycling (sometimes forced by new
legislation), and recycle them responsibly and
innovatively.
26

27. TREND
13
trend
.
FLAWSOME
Why (to consumers) brands that behave more
humanly, including exposing their flaws, will be
awesome.
27

28. TREND
14
trend
.
RECOMMERCE
It’s never been easier for savvy consumers to
resell or trade in past purchases, and unlock the
value in their current possessions. Trading in is the
new buying.
28

29. TREND
15
trend
.
DISTANCE LEARNING
Advanced education via virtual classes becomes
more accepted and fills a desire to continue to
learn without a campus.
29

30. TREND
16
trend
.
SAFE FOOD
Thanks to agribusiness and advanced agricultural
science, it was plentiful, cheap, luscious looking…
and that’s all that counted. The chemical-free
food movement hits the mainstream rather than
being derided as merely a fad, a self-indulgent
affectation of well-heeled liberals.
30

31. TREND
17
trend
.
BIG DATA
The ability to crunch tremendous amounts of data
to discern trends, patterns and insights that was
previously beyond our reach.
31

32. TRENDstorm:
IdenBfy
a
trend
that
combined
with
the
industry
to
change
or
challenge
32

33. EXAMPLE
Financial services
.1 TREND
CROWDSOURCING
KICKSTARTER
Kickstarter
is
part
of
a
rapidly
growing
‘social
funding’
movement
that
connects
individuals
in
a
voluntary
community,
giving
capital
access
to
projects
and
people
they
value
and
opening
up
a
whole
other
way
for
ideas
to
get
to
market.
Copyright
,
2013
Fisher
College
of
Business,
and
Gretchen
Goffe-­‐
Reproduc?on
&
distribu?on
prohibited
without
wriCen
permission

34. NETFLIX
or
REDBOX
34

35. KICKSTARTER
35

36. KEURIG
36

37. SQUARE
37

38. ZIPCAR
38

39. GROUPON
or
GILT
39

40. iTUNES
U
40

41. WIKIPEDIA
41

42. SHAPEWAYS
42

43. FOURSQUARE
43

44. PANDORA
44

45. SPLUNK
45

47. KickstarterTREND
1
trend
.
CROWDSOURCING
The practice of obtaining needed services, ideas,
or content by soliciting contributions from a large
group of people, and especially from an online
community, rather than from traditional
employees or suppliers.
47

48. ZipcarTREND
3
trend
.
COLLECTIVE
CONSUMPTION
Fractional ownership or usage of services/things
you don’t need all the time.
48

49. PandoraTREND
4
trend
.
SCREEN CULTURE
Consumers embrace life on the go and the small
screen becomes even more ubiquitous.
49

50. Groupon and GiltTREND
6
trend
.
DEALER CHIC
Consumers continue to hunt for deals and
discounts, but they will do so with relish. Deals
are now about more than just saving money; it’s
about the thrill, the pursuit, the control, and the
perceived smartness, and thus a source of status
too.
50

51. SquareTREND
7
trend
.
CASH-LESS
Will coins and notes completely disappear in
2012. No. But a cashless feature is (finally) upon
us, as major players such as MasterCard and
Google work to build a whole new eco-system of
payments, rewards and offers around new mobile
technologies.
51

52. ShapewaysTREND + Kinkos
8
trend
.
MAKER MOVEMENT
The Maker Movement also reflects the
technological, political, and economic zeitgeist:
the need for a technologically skilled work force,
hope for a revival of American manufacturing,
concern about STEM education all the while
cutting many of the programs in schools that
foster these skills – arts, wood shop, metal shop,
computer science – to make more room for
standardized testing.
52

53. FoursquareTREND
9
trend
.
IDLE SOURCING
Anything that makes it downright simple- if not
completely effortless- for consumers to contribute
to something will be more popular than ever in
2012. Unlocked by the spread of ever smarter
sensors in mobile phones, people will not only be
able but increasingly willing to broadcast
information about where and what they are
doing, to help improve products and services.
53

54. WikipediaTREND
10
trend
.
USER GENERATED
CONTENT
Brands cede control to users, recognizing and
providing a forum for users opinions, reviews,
points of view and other content.
54