42629 lecture 5 pt 1

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Customer Research, Market & Forecasting

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42629 lecture 5 pt 1

  1. 1. Integrated Product DevelopmentCustomer Research, Market & ForecastingJakob A. Bejbro Andersenjaban@mek.dtu.dk Unless otherwise stated, this material is under a Creative Commons 3.0 Attribution–Share-Alike licence and can be freely modified, used and redistributed but only under the same licence and if including the following statement:“Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and ProductDevelopment Department of Mechanical Engineering, The Technical University of Denmark”
  2. 2. Agenda for lecture 58:30 Customer research9:00 Break9:15 Guest lecture by Tobias Toft (Interaction designer at IDEO in Palo Alto)9:45 Break10:00 Value Proposition and Market Description10:45 Break11:00 Forecasting2 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  3. 3. Your Objective:• Convince the investor that: – There is a need for your product. – You are in unique position to address this need. – You know where to start and how to spend the money. – You will start making money soon. – You will return the investment tenfold very soon. SOLD!3 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  4. 4. Customer ResearchLinking need and product / service – gaining an advantage
  5. 5. Who is the customer• Customers can be easily identifiable or elusive.• This tends to relate to the maturity of the market.Market type Knowledge about Pros Cons customerMature • Consensus reached. • Easy to get • Need for disruptive • Possibly ”locked in”. overview. innovations. • Rarely updated • References • Competition from underline big, wealthy differentiation. companies. • 2nd mover advantageNew / • Unlikely to be readily • 1st mover • No track record inReframed available. advantage. market. • Potential for uncovering • Customer • A lot of work to do. extensive, unadressed knowledge hard to • Complexity. needs replicate.5 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  6. 6. Customer types – who needs what?•A product’s success lies in its ability to provide value to the key stakeholders.You have to figure out…•Who uses it? (normal focus)•Who approves it?•Who purchases it?•Who sees the vision?•Who …? The happy employees of Company X6 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  7. 7. A ”who’s who” for Company X (B2B) Needs to create good PR for our company Has to be Board/ Strategic level Chief Executive environmentally Numbers have to Officer Only under certain add up. friendly. conditions! Head of Chief Chief External Managerial level procure- ment financial officer Operatio- nal officer energy advisor Has to interface w. other technologies. More ergonomic! Intermediate level Operations Operations manager manager Less noise! Easier to use Operational level Worker 1 Worker 2 Worker 37 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  8. 8. Exercise 1 In each group map the key stakeholders for your product. Think about: •Who uses it? •Who approves it? •Who purchases it? •Who sees the vision? •Who …?8 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  9. 9. Mapping needs (organisational levels) •Different of organisations communicate and operate in different ways. •Sources of knowledge vary between levels. Approach 1 Approach 2 Approach 3 Approach 49 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  10. 10. Mapping needs (Strategic level)•Look for reports, press releases, media coverage.•This level tends to communicate a lot. From: www.maersk.com www.ikea.com10 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  11. 11. Mapping needs (Managerial/Intermediate level)• Generally not the most accessible part of organisations• Look for references: What else are they buying?• Find persons with experience in the area. – Use networks organisations (Connect DK, Væksthus Hovedstaden)11 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  12. 12. Mapping needs (Operational level)• Interviews, observation.• Photo/Video documentation.• Surveys.• User specific fora – what is being discussed?12 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  13. 13. Mapping needs (over time)• The needs of the customer change over time.• The role of the product changes between different activities.• Customer Activity Cycles* (CACs) can be used to map needs over time. *(Vandermerwe, 2000)13 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  14. 14. Mapping needs (the CAC) Figure courtesy of Krestine Mougaard and Shin Knudsen (master thesis 2009)14 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  15. 15. Exercise 2 In each group write down ways of investigating and describing the needs of your stakeholders. You have big groups: Everyone should be investigating seperate leads!15 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  16. 16. Q?16 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark
  17. 17. After the 15 minute break (at 9:15 sharp):Guest lecture on User Centered DesignBy Tobias Toft, Interaction designer at IDEOLive from Palo Alto, California (00:15 AM local time): www.ideo.com17 Original material by Jakob A. Bejbro Andersen for course 42629 – Innovation and Product 2012 Development Department of Mechanical Engineering, The Technical University of Denmark

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