The Next (St) Age of Innovation

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A selection of the slides shared with MBA students at Miami University on the importance of customer involvement for successful innovation and the advantages of co-creation. It includes ideas on concept development, internal process changes and the types of knowledge gathering and market research to be included at each stage of the pipeline.
Please contact me at denysedd@c3centricity.com if you would like to download a copy of this presentation or would like me to participate at your own event.

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The Next (St) Age of Innovation

  1. 1. Customer Centricity The Next (St)Age of Innovation?“It is not the Strongest of the Speciesthat Survive, nor the Most Intelligent,it is those Most Responsive to Change” Charles Darwin © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  2. 2. Most Innovative Companies“The creation of better or moreeffective products, processes,services, technologies, or ideasthat are accepted by markets,governments and society” Wikipedia Which are the most Innovative Companies? Why? © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  3. 3. New Age of Innovation © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  4. 4. The Company Pipeline: From this …R&D Operations Finance Production Marketing Sales Customer © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  5. 5. The Company Pipeline: To this …R&D Operations Finance Production Marketing Sales Customer © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  6. 6. Maximise Opportunities / Minimise Risks? # of consumer goods Average sales (%) products launched 1) Within category Ease & speed Line extension High 89 1.0 Incremental innovation 42 4.0 Breakthrough Low innovation 3 25.91) Analysis of 261 products launched in US 2000-2004 in 18 high growth categories,Source: McKinsey Quarterly, November 2006 © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  7. 7. 5 Generation I&R Pipeline OperationsR&D & External Partners © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  8. 8. The Measurement Pipeline Ideation Conceptualisation Industrialisation Post-launch1. 1. 1. 1. 1. Post2. U & A’s 2. 2. Pack test 2. Copy test launch3. 3. Concept / shelf evaluation4. Screener test / tracking5. In homes 3. 2.6. 4. Product 3. testing © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  9. 9. Innovation Sources © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  10. 10. Innovation Levers are variable, depending upon the Company / Industry Business model Offer Brand Innovation Levers Brand Partnerships Technology10 © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  11. 11. Business Models can Change Successfully …. if Done in TimeTiffany & Co sold paperAvon sold books door-to-doorIntel sold computer memory, not microchipsAOL began as a videogame on-demand serviceKodak vs FujiNokia, Motorola, Blackberry, iPhone, AndroidAirlines reinvented: JetBlue, EasyJet, RyanAir © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  12. 12. Reassessing your Business ModelFood Family Time / NeutraceuticalsCigarettes Personal PleasureAlcohol / Drinks Fun / RelaxationPharmaceuticals Wellness © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  13. 13. Successful Innovations come from Listening to Customers POWERED by SERVICE “Customer Service shouldn’t be a department, it should be the entire company” Tony HsiehDATA SOURCE: Oracle 2012, HI Customer Impact Study 2011 © C3Centricity: All rights reserved © C3Centricity: All rights reserved 13
  14. 14. Innovation Sources © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  15. 15. Information Integration is essential for deeper Insight Development • Data • Information • Knowledge • Understanding • Insight © C3Centricity: All rights reserved © C3Centricity: All rights reserved 15
  16. 16. Data is getting Exponentially BIGGER FACT: 90% of the data in the world today has been created in the last 2yrs alone FACT: Every day, we create 2.5 quintillion bytes of data What is Big Data? FACT: Could add £216bn to UK “Big data is data that exceeds the economy and 58,000 new jobs processing capacity of conventional by 2017 database systems” SOURCE: Edd DumbillSOURCE: IBM, CEBR / SAS © C3Centricity: All rights reserved © C3Centricity: All rights reserved 16
  17. 17. Ease of Data Capture & its Potential Value varies by SectorSOURCE: McKinsey 2012 © C3Centricity: All rights reserved © C3Centricity: All rights reserved 17
  18. 18. Innovation today takes Planning, Creativity and Integration © C3Centricity: All rights reserved © C3Centricity: All rights reserved
  19. 19. Innovation is Essential to Business © C3Centricity: All rights reserved © C3Centricity: All rights reserved

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