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podcast@ki| |erinnovations. com
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I What’s wrong with current
Innovations are either incremental or totally
Rarely any real follow-up
No confidence that there aren't better ideas to be
Lack of executive/ organizational support
Killer Innovation approach
Focus The Innovation Search
Depth is better than breadth for idea quality
Ask the right set of questions
Structured questions that drive discovery/ insight
Prioritize The Ideas
Will this idea change the customer expectation?
Will this idea change the competitive landscape?
Will this idea change the economics of the industry?
Quick idea validation via “fast” prototype (days versus weeks/ months)
Areas of innovation focus
New or Moving into
existing , _ new
customers p" competitive
or services Expansion into
Value d9llV9"Y . Improvement
system in industry
Better Questions= Ki| |er Ideas
New or Existing Customers
' What emotional, psychological, or status beneﬁt do (could) people derive
from using the product?
' How can you create a social or group experience with the product?
’ What are some of the basic assumptions under which the industry
’ What external jolts have the potential to significantly impact the
operational rules of the industry?
Product & Services Innovation
' Who uses the product because of some benefit we did not foresee?
’ What regularly used makeshifts can we capture in a product design?
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I How to Generate Killer Ideas
Purpose - the yield of high quality ideas is signiﬁcantly
higher with a clear business purpose and a supportive
Timeliness - the difference between a great idea and a
so-so idea is market/ technology timing.
Diversity - the pool of contributors needs to be broad,
broader than you intuitively think.
Perspective Chan e - the very best ideas come
through individuals ooking att ings in a different way.
Collaborative Development - environment, where
people can comment and build on ideas thereby
significantly increasing the overall yield of high Impact
Execution = Stage Gate
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Areas of innovation focus
New or existing
°"5t°m°"3 Moving into new
services Expansion into
Innovation in value
d9"V°Tlf 5Y5t°m Improvement in
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The Experience Model
Goods ‘ 49°
. . °<<‘°
What do people not
like about the
What service levels
could I offer if I
controlled the entire
I'm not going to
pay for that!
Value Based Pricing
I Value By The Pound
Hot Rolled Steel
What would it take to
make my product at
half the cost?
Could I offer my
product at 5 times
the cost if it had
We are just like
them — just better!
Bes tPractices ¢ Bes tstrategy
“Me To” Companies
Late 1970's Late 1990’s
Bottled water brands 16 50
Milk types 4 19
Magazine titles 339 790
Radio stations 7,038 12,458
New book titles 40,530 77,446
Replication of market concepts lead to a lack of differentiation and confused
customers. The result is an industry where commodity strategies (eg. win
market share with lower prices) take over.
Late 1970's Late 1990’s
McDonalds items 13 43
Levi's jean styles 41 70
Frito-Lay chip varieties 10 78
Pop-Tarts 3 29
KFC menu items 7 14
Brand extension is not to be confused with true innovation. In many cases,
customers only care about the one or two items within a brand they purchase.
Brand extension normally doesn't increase the size of the market, but instead
simply provides choices to existing customers.
Types of Differentiation
- Owning an Attribute - Preference
- Must be unique - Getting the herd to follow
- Look at opposite attributes (e. g.
small against a larger competitor) - Production
- Owning a Category (Leadership) - Products/ system innovations
- Sales leadership
- Technology leadership - Be the Latest
- Performance leadership - New
- Make yourself obsolete
- A substitute for leadership - Hotness
- Search the history - Sales
- Industry ratings
- Market Specialty - Industry Ratings
- NOT all things to all people
- Must stay specialized
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Who uses my
product because of
some benefit I did
How can I capitalize
on pop culture in my