Marketers now have many ways to develop new consumer packaged goods ideas through brand studies, qualitative research, and co-creation methods. However, the real challenge is deciding which ideas to pursue further. To meet this challenge, marketers need to assess the market potential of ideas. Simply ranking ideas is not enough - ideas need to be evaluated based on their ability to meet business objectives. The document discusses moving beyond idea ranking to quantitatively evaluate ideas based on their relevance, differentiation, and believability. This allows estimating the market potential of ideas earlier in the innovation process.
The document discusses various techniques for generating consumer insights, including in-depth interviews, focus groups, projective techniques, and immersions. It aims to uncover consumers' unconscious feelings, beliefs, and behaviors. Techniques range from traditional qualitative research methods to more innovative approaches like visual ethnography, deprivation tests, and creative workshops. The overall goal is to develop a deep understanding of consumers to inspire new marketing strategies and product innovation.
Lean Innovation for Micro Enterprises Module 1 Why does lean innovation matter?BanbridgeDistrictEnt
This document provides an overview of lean innovation. It discusses how lean innovation allows businesses both large and small to implement innovations quickly and with fewer resources through processes like design thinking, lean startup methodology, and lean processes. Examples are given of companies from different industries that have successfully adopted lean innovation practices, such as shifting business models in response to the Covid-19 pandemic. The benefits of lean innovation for organizations include less paperwork, more effective meetings, and fewer decision points.
The document discusses the role of consumer research in the design process. It notes that some designers see research as limiting their creativity, while others see it as valuable for understanding customer needs and validating designs. The author argues that research is most useful when conducted throughout the design process, using methods like surveys and focus groups, to provide actionable feedback. He warns against using small focus groups to make final decisions and presents best practices for effective consumer research to guide designers.
2016.08.THAT Conference - GROWING NEW PRODUCTS - VALIDATING YOUR NEW PRODUCT ...Ryan D. Hatch
This document provides an overview of Ryan D. Hatch's approach to strategic product management. It begins by explaining why startups have risen and why a solid product management approach is needed. It then discusses how to determine what customers truly value through techniques like jobs-to-be-done interviews. The rest of the document demonstrates these concepts through examples of live and mock customer interviews. It emphasizes learning through an iterative process of generating and evaluating theories based on customer feedback. The goal is to continuously discover high-value opportunities and build the right solutions to meet customer needs.
These are the slides used in the 150 Startups kick-off workshop held at Bow Valley College May 12th to 14th that was facilitated by Evan Hu & Craig Elias
Ne laissez pas mourir vos prometteuses innovations de rupture !Ipsos France
Les innovations “Breakthrough” sont cruciales dans le succès et la survie d’une entreprise. Pourquoi ? Parce qu’elles vont doubler le retour sur investissement d’une innovation classique, non rupturiste.
D’un point de vue étude, il y a plusieurs questions qu’un marketeur doit se poser pour lancer avec succès des innovations de ruptures.
Usage of English words is very essential for a successful and effective marketing strategy. Which words are neuro-psychological activators are very important to understand and analyse. In addition, the slogans of companies are also an important dimension to achieve the surprise. Without a catchy slogan, no company can flourish. Last but not the least, email appointments.
This document discusses the importance of validating consumer insights before using them to drive business innovation. It provides an overview of insight validation methods that can help identify the insights with the highest potential for innovation, branding, or activation. These methods move beyond traditional surveys by using qualitative plug-ins, collaborative tools, and emotional measurement to gain a deeper understanding of why certain insights perform better than others. Insight validation is presented as a necessary step for selecting the most promising insights to pursue, thereby increasing the chances of successful marketing innovation initiatives.
The document discusses various techniques for generating consumer insights, including in-depth interviews, focus groups, projective techniques, and immersions. It aims to uncover consumers' unconscious feelings, beliefs, and behaviors. Techniques range from traditional qualitative research methods to more innovative approaches like visual ethnography, deprivation tests, and creative workshops. The overall goal is to develop a deep understanding of consumers to inspire new marketing strategies and product innovation.
Lean Innovation for Micro Enterprises Module 1 Why does lean innovation matter?BanbridgeDistrictEnt
This document provides an overview of lean innovation. It discusses how lean innovation allows businesses both large and small to implement innovations quickly and with fewer resources through processes like design thinking, lean startup methodology, and lean processes. Examples are given of companies from different industries that have successfully adopted lean innovation practices, such as shifting business models in response to the Covid-19 pandemic. The benefits of lean innovation for organizations include less paperwork, more effective meetings, and fewer decision points.
The document discusses the role of consumer research in the design process. It notes that some designers see research as limiting their creativity, while others see it as valuable for understanding customer needs and validating designs. The author argues that research is most useful when conducted throughout the design process, using methods like surveys and focus groups, to provide actionable feedback. He warns against using small focus groups to make final decisions and presents best practices for effective consumer research to guide designers.
2016.08.THAT Conference - GROWING NEW PRODUCTS - VALIDATING YOUR NEW PRODUCT ...Ryan D. Hatch
This document provides an overview of Ryan D. Hatch's approach to strategic product management. It begins by explaining why startups have risen and why a solid product management approach is needed. It then discusses how to determine what customers truly value through techniques like jobs-to-be-done interviews. The rest of the document demonstrates these concepts through examples of live and mock customer interviews. It emphasizes learning through an iterative process of generating and evaluating theories based on customer feedback. The goal is to continuously discover high-value opportunities and build the right solutions to meet customer needs.
These are the slides used in the 150 Startups kick-off workshop held at Bow Valley College May 12th to 14th that was facilitated by Evan Hu & Craig Elias
Ne laissez pas mourir vos prometteuses innovations de rupture !Ipsos France
Les innovations “Breakthrough” sont cruciales dans le succès et la survie d’une entreprise. Pourquoi ? Parce qu’elles vont doubler le retour sur investissement d’une innovation classique, non rupturiste.
D’un point de vue étude, il y a plusieurs questions qu’un marketeur doit se poser pour lancer avec succès des innovations de ruptures.
Usage of English words is very essential for a successful and effective marketing strategy. Which words are neuro-psychological activators are very important to understand and analyse. In addition, the slogans of companies are also an important dimension to achieve the surprise. Without a catchy slogan, no company can flourish. Last but not the least, email appointments.
This document discusses the importance of validating consumer insights before using them to drive business innovation. It provides an overview of insight validation methods that can help identify the insights with the highest potential for innovation, branding, or activation. These methods move beyond traditional surveys by using qualitative plug-ins, collaborative tools, and emotional measurement to gain a deeper understanding of why certain insights perform better than others. Insight validation is presented as a necessary step for selecting the most promising insights to pursue, thereby increasing the chances of successful marketing innovation initiatives.
In this Webinar, Stephen Fleming-Prot, Principal UX Researcher, provides techniques to guide you through the sometimes rough waters of customer experience research in 2019. With executives demanding that their teams connect with customers and build empathy for their users, this webinar gives you actionable tactics to help you expand your cross-functional teams’ methods and approaches for research.
You’ll learn:
Guidance on “mapping” out a plan for 2019
Considerations for the “gear” and tools you need for the journey, including balancing quantitative and qualitative approaches to research
New techniques to help you “navigate” your research needs
Research considerations for dealing with new tech
Tips on ensuring everyone is moving in the same direction - towards a better understanding of, and more empathy for customers
Maddock Douglas is an innovation consulting firm that helps clients bring new products and services to market. Many companies struggle with "Failure-to-launch Syndrome", where they invest heavily in innovation but struggle to profitably bring innovations to market repeatedly. This is often due to focusing on speed to market rather than speed to learning from customers. Maddock Douglas recommends using a portfolio approach to categorize ideas based on market maturity and business capabilities fit in order to determine the right innovation activities for each idea. This tailored approach can help companies more successfully manage different types of innovation.
This document discusses concept and product testing in marketing research. It covers key topics like the purpose of concept testing, how most new products fail, typical concept test procedures, challenges in concept testing, and the roles of qualitative and quantitative research. The overall goals of concept testing are to improve new products, increase their chances of success, and forecast likely sales. Quantitative research is usually used for launch decisions while qualitative research helps improve products and understand quantitative results.
A simple method to make better CX decisionsUserTesting
Did you know that you can learn a lot about your customers and their experience with just a few quick and easy questions? Ann Morey, a longtime researcher and expert user of the UserTesting platform will be joining us to teach you how to conduct mini behavioral interviews to ask all your nagging questions like, “Why do people start using our product?” or, “What do our competitors do for their customers?” and, “Is this problem we’re trying to solve really a pain point?”
These speedy interviews can be conducted using moderated or unmoderated studies, require very little preparation, prototypes, or working digital experiences. Stop guessing and make better decisions today by using this simple method for getting quick answers to fundamental questions.
You will learn:
How to write screener questions to recruit the most suitable participants
What types of questions to ask your users, and when?
How to write questions that prompt helpful responses from participants
How to quickly analyze and share your findings
Marketing Edition: How we leverage UserTesting UserTesting
Marketing and Customer Empathy: How we push UserTesting to the limit
User tests can be used to validate a huge array of marketing content—everything from commercials to images to email messages. It can also help you get inside the heads of customers on a wide variety of topics, even sensitive subjects like religion and politics. If you want a fast path to empathy with your customers, this is it.
In this webinar, UserTesting VP of product marketing Michael Mace will share his personal experiences in pushing the UserTesting platform to the limit to validate marketing content, and get fast insights on customer attitudes in a wide variety of subjects. He’ll share what works, what doesn’t, and will share tips on what you can try yourself.
You will learn:
What types of marketing content can be validated
How to set up the tests
Problems to watch out for
How to get insights on sensitive issues that people wouldn’t normally discuss
In the Jobs to Be Done space, I assume from my research that Anthony Ulwick, author of What Customers Want, is the originator of the thought, but Clayton Christensen has helped popularized the concept. On this theory though, I am staying with Ulwick's work and have used it numerous times. It works! It was not till several months ago that I actually finally created a mind map of the process. This is my rendition of it.
Lean Software Startup: Customer Development (lecture)Joni Salminen
Lecture at the University of Turku
Topic: Customer development - an introduction
20th January, 2016
Customer development is a form of market research for startups.
The Bright Future of Market Research Smartees WorkshopInSites on Stage
This is the full slidedeck of our Smartees Workshop on 'the Bright Future of Market Research' (11 February, 2014). The main focus is on how both traditional quantitative and qualitative research can be better, fresher and more contemporary by approaching participants and internal stakeholders differently.
Concepts and best practices for data-driven decision-making.
A 10,000-feet overview on why do you care about analytics as a startup and some hints on how to pick the right metrics.
Presentation delivered at SuperFounders in November 2015.
Product Edition: How we leverage UserTestingUserTesting
As Product Managers, you’re responsible for delivering game-changing products that both delight customers and grow the business. It’s also critical that the product decisions you make get buy-in from key stakeholders, whether it’s from your direct team or executives. Not only that, these decisions need to be made faster than ever before.
In our first installment of the Product Edition Webinar, UserTesting's Director of Product Brian Tran will share a few ways he leverages the UserTesting platform for product discovery and validation, to make decisions quickly and confidently.
You’ll learn how to use UserTesting to:
Uncover key unmet customer needs
Understand the perceived value of your product to determine pricing
Validate and prioritize feature sets
1. The document discusses various techniques for analyzing data and presenting findings, including finding "data breaks", building stories around key events or changes in numbers, and using cause-and-effect frameworks.
2. It emphasizes starting with the consumer perspective and focusing on relative changes in metrics over time rather than absolute numbers.
3. The examples show how to structure analyses around identifying patterns in the data, explaining causal relationships, and drawing conclusions supported by evidence.
The document provides guidance on strategic thinking and execution for marketing. It discusses the importance of:
1) Developing strategies that are simple, focused on the top priorities, and tell compelling stories backed by facts.
2) Ensuring ideas are thoroughly tested before implementation and that execution matches the strategic vision.
3) Achieving "great thinking and equally great execution" to maximize results, as random or mediocre execution can undermine strong strategies.
The document outlines 7 common mistakes that marketers make: 1) Focusing on customer "needs" rather than their "wants". 2) Being too in love with their product rather than understanding customers. 3) Viewing marketing as only science or art rather than both. 4) Trying to please everyone rather than focusing their message. 5) Forgetting that frequent repetition is needed due to how quickly people forget messages. 6) Believing their price is too high without proof. 7) Relying solely on economic arguments rather than other factors like ease of use. The document advocates understanding what customers want emotionally and focusing marketing messages accordingly.
If you have any doubts about using promotional products to meet your business goals, this will convince you that YOUR BUSINESS SHOULD BE USING PROMOTIONAL PRODUCTS
The document summarizes the findings of a study on the effectiveness of promotional products as advertising. The study surveyed over 600 businesspeople about their experiences receiving and using promotional items. It found that promotional products have a significant impact on brand awareness and purchasing decisions. Products are kept and used for an average of 7 months, and their cost per impression is a fraction of a cent, making them more cost effective than most other forms of traditional advertising media. The document then addresses 12 common objections to using promotional products and provides data-backed solutions from the study to overcome each objection.
The document summarizes the findings of a study on the effectiveness of promotional products as advertising. Some key findings include:
- 42% of users have a more favorable impression of advertisers after receiving a promotional product
- Nearly 25% of users are more likely to do business with advertisers whose products they receive
- Writing instruments are the most recalled promotional item and products are typically kept for 7 months
- The cost per impression of promotional products is a fraction of a cent, cheaper than most other forms of traditional media advertising.
This document introduces business experimentation and prototyping. It discusses that experiments test hypotheses and produce learning through measurable outcomes. Prototyping makes ideas tangible to learn from quickly through iteration. Different types of prototypes include physical, service, and environmental. Minimum viable products have minimum features to win early adopters. Metrics should be understandable, comparative, and help change behavior. Common experiments include A/B tests to compare options and sales experiments to validate customer interest. Prototyping and experimentation foster innovation and reduce risk through learning.
Venture For America Customer ExperienceLewis Goldman
The document outlines the schedule and content for a marketing module focusing on customer experience. It includes exercises on best and worst customer experiences, mapping customer touchpoints and failpoints, and presentations on acquisition and lifetime customer value. Key topics covered are defining customer experience, measuring customer satisfaction, importance of customer experience, and case studies on companies like Twitter, 1800flowers, Zappos and Comcast.
The document summarizes the results of a study on the effectiveness of promotional products as advertising. The study surveyed over 600 businesspeople and found that promotional items have significant brand recall and influence purchasing decisions. Products are kept for an average of 7 months and have a very low cost-per-impression, making them more cost effective than most other forms of traditional advertising media. The document then addresses 12 common objections to using promotional products and provides data from the study to overcome each objection.
New products often fail due to misinterpreted market research, overestimated demand, high development costs, poor design, incorrect positioning, insufficient support, and strong competitive responses. Failure rates for new products are estimated between 50-95% in the US and 90% in Europe. While failure is common, truly innovative companies accept it as inevitable for success. Initial failures may lead to later successes if companies identify new uses for failed products. Managing the entire new product development process from idea generation to commercialization is important to improve success rates.
The New Product Development ProcessBecause introdu.docxcherry686017
The New Product Development Process
Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.
In this PowerPoint slide show, we present a process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products. We should note that while this process works for most industries, it is less effective in developing radically new products. The main reason lies in the inability of the target market to provide sufficient feedback on advanced product concepts since they often find it difficult to understand radically different ideas. So while many of these steps are used to research breakthrough ideas, the marketer should exercise caution when interpreting the results.
*
New Products are vital
As the cartoon highlights, in this era of rapid changes in our external environment, innovation is imperative. A firm cannot rest on their laurels (and current products). Furthermore, the time it takes firms to bring new products to market has accelerated. Firms that fail to develop new products put themselves at risk as their existing products are vulnerable to changing customer needs and tastes, new technologies, shortened product-life-cycles, and increased competition. In this PowerPoint slideshow, we highlight the 8 step new product development process as described by Kotler and Keller (2016).
*
8 Step New-Product Development Process1. Idea Generation2. Idea Screening3. Concept Development and Testing4. Marketing Strategy Development5. Business Analysis6. Product Development7. Market Testing8. Commercialization
How Kotler and Keller (2016) describes the New Product Development Process is as an eight stage process in which the new product can be dropped at any time. Other sources will condense some of the steps so you may see others refer to fewer steps. If you look at these closely though, they are not deleting any of the activities, but instead are combining some of them.
*
Step 1: Idea GenerationAt this stage marketers need to ask: Is the idea worth considering?If yes, proceed to idea screening.If no, drop.Ideas for new products can come from:Customers and channel membersScientists and engineersBy examining competitorsTop management
The first step of new product development requires gathering ideas to be evaluated as potential product ...
This complete deck can be used to present to your team. It has PPT slides on various topics highlighting all the core areas of your business needs. This complete deck focuses on Concept Testing Whitepaper PowerPoint Presentation Slides and has professionally designed templates with suitable visuals and appropriate content. This deck consists of total of twenty nine slides. All the slides are completely customizable for your convenience. You can change the colour, text and font size of these templates. You can add or delete the content if needed. Get access to this professionally designed complete presentation by clicking the download button below. https://bit.ly/3gcSrCr
In this Webinar, Stephen Fleming-Prot, Principal UX Researcher, provides techniques to guide you through the sometimes rough waters of customer experience research in 2019. With executives demanding that their teams connect with customers and build empathy for their users, this webinar gives you actionable tactics to help you expand your cross-functional teams’ methods and approaches for research.
You’ll learn:
Guidance on “mapping” out a plan for 2019
Considerations for the “gear” and tools you need for the journey, including balancing quantitative and qualitative approaches to research
New techniques to help you “navigate” your research needs
Research considerations for dealing with new tech
Tips on ensuring everyone is moving in the same direction - towards a better understanding of, and more empathy for customers
Maddock Douglas is an innovation consulting firm that helps clients bring new products and services to market. Many companies struggle with "Failure-to-launch Syndrome", where they invest heavily in innovation but struggle to profitably bring innovations to market repeatedly. This is often due to focusing on speed to market rather than speed to learning from customers. Maddock Douglas recommends using a portfolio approach to categorize ideas based on market maturity and business capabilities fit in order to determine the right innovation activities for each idea. This tailored approach can help companies more successfully manage different types of innovation.
This document discusses concept and product testing in marketing research. It covers key topics like the purpose of concept testing, how most new products fail, typical concept test procedures, challenges in concept testing, and the roles of qualitative and quantitative research. The overall goals of concept testing are to improve new products, increase their chances of success, and forecast likely sales. Quantitative research is usually used for launch decisions while qualitative research helps improve products and understand quantitative results.
A simple method to make better CX decisionsUserTesting
Did you know that you can learn a lot about your customers and their experience with just a few quick and easy questions? Ann Morey, a longtime researcher and expert user of the UserTesting platform will be joining us to teach you how to conduct mini behavioral interviews to ask all your nagging questions like, “Why do people start using our product?” or, “What do our competitors do for their customers?” and, “Is this problem we’re trying to solve really a pain point?”
These speedy interviews can be conducted using moderated or unmoderated studies, require very little preparation, prototypes, or working digital experiences. Stop guessing and make better decisions today by using this simple method for getting quick answers to fundamental questions.
You will learn:
How to write screener questions to recruit the most suitable participants
What types of questions to ask your users, and when?
How to write questions that prompt helpful responses from participants
How to quickly analyze and share your findings
Marketing Edition: How we leverage UserTesting UserTesting
Marketing and Customer Empathy: How we push UserTesting to the limit
User tests can be used to validate a huge array of marketing content—everything from commercials to images to email messages. It can also help you get inside the heads of customers on a wide variety of topics, even sensitive subjects like religion and politics. If you want a fast path to empathy with your customers, this is it.
In this webinar, UserTesting VP of product marketing Michael Mace will share his personal experiences in pushing the UserTesting platform to the limit to validate marketing content, and get fast insights on customer attitudes in a wide variety of subjects. He’ll share what works, what doesn’t, and will share tips on what you can try yourself.
You will learn:
What types of marketing content can be validated
How to set up the tests
Problems to watch out for
How to get insights on sensitive issues that people wouldn’t normally discuss
In the Jobs to Be Done space, I assume from my research that Anthony Ulwick, author of What Customers Want, is the originator of the thought, but Clayton Christensen has helped popularized the concept. On this theory though, I am staying with Ulwick's work and have used it numerous times. It works! It was not till several months ago that I actually finally created a mind map of the process. This is my rendition of it.
Lean Software Startup: Customer Development (lecture)Joni Salminen
Lecture at the University of Turku
Topic: Customer development - an introduction
20th January, 2016
Customer development is a form of market research for startups.
The Bright Future of Market Research Smartees WorkshopInSites on Stage
This is the full slidedeck of our Smartees Workshop on 'the Bright Future of Market Research' (11 February, 2014). The main focus is on how both traditional quantitative and qualitative research can be better, fresher and more contemporary by approaching participants and internal stakeholders differently.
Concepts and best practices for data-driven decision-making.
A 10,000-feet overview on why do you care about analytics as a startup and some hints on how to pick the right metrics.
Presentation delivered at SuperFounders in November 2015.
Product Edition: How we leverage UserTestingUserTesting
As Product Managers, you’re responsible for delivering game-changing products that both delight customers and grow the business. It’s also critical that the product decisions you make get buy-in from key stakeholders, whether it’s from your direct team or executives. Not only that, these decisions need to be made faster than ever before.
In our first installment of the Product Edition Webinar, UserTesting's Director of Product Brian Tran will share a few ways he leverages the UserTesting platform for product discovery and validation, to make decisions quickly and confidently.
You’ll learn how to use UserTesting to:
Uncover key unmet customer needs
Understand the perceived value of your product to determine pricing
Validate and prioritize feature sets
1. The document discusses various techniques for analyzing data and presenting findings, including finding "data breaks", building stories around key events or changes in numbers, and using cause-and-effect frameworks.
2. It emphasizes starting with the consumer perspective and focusing on relative changes in metrics over time rather than absolute numbers.
3. The examples show how to structure analyses around identifying patterns in the data, explaining causal relationships, and drawing conclusions supported by evidence.
The document provides guidance on strategic thinking and execution for marketing. It discusses the importance of:
1) Developing strategies that are simple, focused on the top priorities, and tell compelling stories backed by facts.
2) Ensuring ideas are thoroughly tested before implementation and that execution matches the strategic vision.
3) Achieving "great thinking and equally great execution" to maximize results, as random or mediocre execution can undermine strong strategies.
The document outlines 7 common mistakes that marketers make: 1) Focusing on customer "needs" rather than their "wants". 2) Being too in love with their product rather than understanding customers. 3) Viewing marketing as only science or art rather than both. 4) Trying to please everyone rather than focusing their message. 5) Forgetting that frequent repetition is needed due to how quickly people forget messages. 6) Believing their price is too high without proof. 7) Relying solely on economic arguments rather than other factors like ease of use. The document advocates understanding what customers want emotionally and focusing marketing messages accordingly.
If you have any doubts about using promotional products to meet your business goals, this will convince you that YOUR BUSINESS SHOULD BE USING PROMOTIONAL PRODUCTS
The document summarizes the findings of a study on the effectiveness of promotional products as advertising. The study surveyed over 600 businesspeople about their experiences receiving and using promotional items. It found that promotional products have a significant impact on brand awareness and purchasing decisions. Products are kept and used for an average of 7 months, and their cost per impression is a fraction of a cent, making them more cost effective than most other forms of traditional advertising media. The document then addresses 12 common objections to using promotional products and provides data-backed solutions from the study to overcome each objection.
The document summarizes the findings of a study on the effectiveness of promotional products as advertising. Some key findings include:
- 42% of users have a more favorable impression of advertisers after receiving a promotional product
- Nearly 25% of users are more likely to do business with advertisers whose products they receive
- Writing instruments are the most recalled promotional item and products are typically kept for 7 months
- The cost per impression of promotional products is a fraction of a cent, cheaper than most other forms of traditional media advertising.
This document introduces business experimentation and prototyping. It discusses that experiments test hypotheses and produce learning through measurable outcomes. Prototyping makes ideas tangible to learn from quickly through iteration. Different types of prototypes include physical, service, and environmental. Minimum viable products have minimum features to win early adopters. Metrics should be understandable, comparative, and help change behavior. Common experiments include A/B tests to compare options and sales experiments to validate customer interest. Prototyping and experimentation foster innovation and reduce risk through learning.
Venture For America Customer ExperienceLewis Goldman
The document outlines the schedule and content for a marketing module focusing on customer experience. It includes exercises on best and worst customer experiences, mapping customer touchpoints and failpoints, and presentations on acquisition and lifetime customer value. Key topics covered are defining customer experience, measuring customer satisfaction, importance of customer experience, and case studies on companies like Twitter, 1800flowers, Zappos and Comcast.
The document summarizes the results of a study on the effectiveness of promotional products as advertising. The study surveyed over 600 businesspeople and found that promotional items have significant brand recall and influence purchasing decisions. Products are kept for an average of 7 months and have a very low cost-per-impression, making them more cost effective than most other forms of traditional advertising media. The document then addresses 12 common objections to using promotional products and provides data from the study to overcome each objection.
New products often fail due to misinterpreted market research, overestimated demand, high development costs, poor design, incorrect positioning, insufficient support, and strong competitive responses. Failure rates for new products are estimated between 50-95% in the US and 90% in Europe. While failure is common, truly innovative companies accept it as inevitable for success. Initial failures may lead to later successes if companies identify new uses for failed products. Managing the entire new product development process from idea generation to commercialization is important to improve success rates.
The New Product Development ProcessBecause introdu.docxcherry686017
The New Product Development Process
Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.
In this PowerPoint slide show, we present a process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products. We should note that while this process works for most industries, it is less effective in developing radically new products. The main reason lies in the inability of the target market to provide sufficient feedback on advanced product concepts since they often find it difficult to understand radically different ideas. So while many of these steps are used to research breakthrough ideas, the marketer should exercise caution when interpreting the results.
*
New Products are vital
As the cartoon highlights, in this era of rapid changes in our external environment, innovation is imperative. A firm cannot rest on their laurels (and current products). Furthermore, the time it takes firms to bring new products to market has accelerated. Firms that fail to develop new products put themselves at risk as their existing products are vulnerable to changing customer needs and tastes, new technologies, shortened product-life-cycles, and increased competition. In this PowerPoint slideshow, we highlight the 8 step new product development process as described by Kotler and Keller (2016).
*
8 Step New-Product Development Process1. Idea Generation2. Idea Screening3. Concept Development and Testing4. Marketing Strategy Development5. Business Analysis6. Product Development7. Market Testing8. Commercialization
How Kotler and Keller (2016) describes the New Product Development Process is as an eight stage process in which the new product can be dropped at any time. Other sources will condense some of the steps so you may see others refer to fewer steps. If you look at these closely though, they are not deleting any of the activities, but instead are combining some of them.
*
Step 1: Idea GenerationAt this stage marketers need to ask: Is the idea worth considering?If yes, proceed to idea screening.If no, drop.Ideas for new products can come from:Customers and channel membersScientists and engineersBy examining competitorsTop management
The first step of new product development requires gathering ideas to be evaluated as potential product ...
This complete deck can be used to present to your team. It has PPT slides on various topics highlighting all the core areas of your business needs. This complete deck focuses on Concept Testing Whitepaper PowerPoint Presentation Slides and has professionally designed templates with suitable visuals and appropriate content. This deck consists of total of twenty nine slides. All the slides are completely customizable for your convenience. You can change the colour, text and font size of these templates. You can add or delete the content if needed. Get access to this professionally designed complete presentation by clicking the download button below. https://bit.ly/3gcSrCr
The document discusses various concepts related to consumer behaviour research. It describes the key concepts of the production concept, product concept, selling concept, and marketing concept in the development of marketing. It also discusses consumer decision making models and different approaches to consumer research including quantitative and qualitative paradigms. Finally, it outlines various research methods for collecting primary data such as surveys, experiments, depth interviews, focus groups, and projective techniques.
The document discusses the importance of an effective operating model for product organizations to successfully execute strategies. It identifies four key factors of an operating model: product mindset, organizational design, development model, and decision making structure. Product mindset focuses on understanding customer needs rather than requests. Organizational design calls for a product management team separate from engineering and sales. The development model addresses balancing in-house versus outsourced work. Decision making aims to minimize risk through lean methodology and experimentation.
This document discusses product development strategies and the new product development process. It notes that over 90% of new products fail within 2 years due to issues like overestimating market size, poor design, incorrect positioning, or competitors responding aggressively. The document then outlines the key steps in new product development: generating ideas from internal and external sources, screening ideas to evaluate market potential and technical/financial feasibility, and developing the remaining ideas further. It emphasizes establishing a formal system to manage the idea generation and screening process.
The document provides a 5-step guide to generating insights from data:
1. Define what needs to be understood from the data
2. Identify barriers that could prevent insights such as selection and confirmation bias
3. Develop customer empathy through research to understand motivations
4. Take a step back before finalizing insights to ensure they are useful and consistent
5. Validate insights through research to ensure they differentiate and motivate the audience
VicHealth Physical Activity Innovation Challenge Concept Development Workshop...Doing Something Good
Our slides from the Concept Development Workshop with VicHealth Wed 10 September 2014. Participants, 12 teams, were finalists in the Physical Activity Innovation Challenge. They included representatives from sporting clubs and associations, health and fitness professionals, policy makers, entrepreneurs and change makers. The Concept Development Workshop was the third of a three-part workshop series to build capability in the sector to generate and implement innovative ideas to get Victorians active, and to help applicants for the VicHealth Innovation Challenge to develop their ideas to get the inactive active and reach the hard to reach. Participants were led through the development of a Business Model Canvas for their concept. Learn more about the VicHealth Innovation Challenge here: http://challenge.vichealth.vic.gov.au/
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Test Your Innovation IQ Holly Green, Contributor Origina.docxtodd191
Test Your Innovation IQ
Holly Green, Contributor
Original Source
Everyone knows that innovation means coming up with the next great idea in your
industry, right? Actually, there’s a lot more to it than that. Test your ability to separate
innovation fact from fiction by answering the following questions true or false:
1. Innovation is the act of coming up with new and creative ideas.
2. Innovation is a random process.
3. Innovation is the exclusive realm of a few naturally talented people.
4. The biggest obstacle to innovation is a lack of organizational resources and
know-how.
5. The most important type of innovation involves bringing new products and
services to market.
6. Teaching employees to think creatively will guarantee innovation.
7. The most powerful way to trigger your brain is to simply ask it a question.
8. Most companies pursue incremental rather than disruptive innovation.
9. Most companies are not structured to innovate.
10. Listening to your customers is a great way to innovate.
Answers:
1. False. In business, innovation is the act of applying knowledge, new or old, to the
creation of new processes, products, and services that have value for at least one of
your stakeholder groups. The key word here is applying. Generating creative ideas is
certainly part of the process. But in order to produce true innovation, you have to
actually do something different that has value.
2. False. Innovation is a discipline that can (and should) be planned, measured, and
managed. If left to chance, it won’t happen.
3. False. Everyone has the power to innovate by letting their brain wander, explore,
connect, and see the world differently. The problem is that we’re all running so fast that
we fail to make time for the activities that allow our brains to see patterns and make
connections. Such as pausing and wondering….what if?
4. False. In most organizations, the biggest obstacle to innovation is what people
already know to be true about their customers, markets, and business. Whenever you’re
absolutely, positively sure you’re right, any chance at meaningful innovation goes out
the window.
https://www.forbes.com/sites/work-in-progress/2011/12/06/test-your-innovation-iq/#3133e7f0395b
5. False. It’s certainly important to bring new products and services to market. But the
most important form of innovation, and the #1 challenge for today’s business leaders
may really be reinventing the way we manage ourselves and our companies.
6. False. New ideas are a dime a dozen. The hard part is turning those ideas into new
products and services that customers value and are willing to pay for -- a process that
requires knowledge about what your customers want and need, coupled with
implementation.
7. True. Ask a question and the brain responds instinctually to get closure. The key with
innovation is to ask questions that open people to possibilities, new ways of looking at
the same data, and new interpre.
The document discusses five common reasons why new products fail and provides remedies. The five reasons are: 1) The product was not needed, 2) The market did not understand the value proposition, 3) The product did not work or deliver promised outcomes, 4) The business model did not support the effort, and 5) There were too many "me-too" projects and not enough innovative ideas. The remedies include using customer feedback, clearly defining value propositions, improving engineering processes, proving business models on a small scale first, and allocating resources to bolder innovations.
Design thinking process is a creative problem solving approach that emphasizes empathy, collaboration, and experimentation to create innovative solutions.
When you need to compete on innovation rather than efficiency.
SUMMARY:
The confluence of two fundamental conditions is required to meaningfully spark the types of insights that drive your strategy and create viable products:
* Knowledge
* Imagination
This is being “innovation ready” and is essential to develop smart, thoughtful products that users want and customers will buy.
There are multiple frameworks and theories on product development. Some of the most astute and popular that have shaped our way of thinking and better enabled the start-up and large enterprise alike are:
* Lean Start-up
* Design Thinking
* Jobs-to-be-Done (JTBD)
* Agile
Extending on the collective wisdom of these frameworks, Innovation Ready focuses on the specific conditions necessary to develop the informed insights that drive meaningful product strategy. It's these moments of inspiration that ultimately shape and form our work and, at a minimum, de-risk our product development activities, but more boldly, enable us to deliver the next breakthrough product.
Table of Contents:
Foundation: Problem | Solution | Product
User Problem
Innovation Ready
Building Your Knowledge
User & Customer Needs
Market Dynamics
* Existing Solutions
* Behavior Analytics
* External Constraints
* Secondary Research/ Market Trends
Imagination
Business Model
* Lean Canvas
* Market Size
Iterating & Ideating Your Product
* Plan & Test
* Collect & Learn
* Ideate & Evolve
Minimum Viable / Lovable Product
Evaluation Checkpoints
Product-Market Fit
This document contains a summary of key concepts and questions from Chapter 20 on introducing new market offerings. It includes definitions of categories of new products, causes of new product failure, stages of new product development, the consumer adoption process, creativity techniques, the time of adoption of innovations, and factors related to commercialization. The questions provided test understanding of these concepts.
The document discusses business validation and the Lean Startup method. It advocates building a basic product/prototype to test and validate ideas with customers. The key aspects of validation are determining if anyone is interested in the product, what features customers care about, what features are missing, and what features aren't necessary. The data learned from customers is then used to constantly revise the product.
7 ways to get more value from your precious customer insightMartin Wright
How often have you seen expensive research gathering dust; wasted and ignore? Insights capable of helping a company become fitter, more popular and richer crowded out by today’s urgent demands?
In this multi-channel, fast moving and competitive world understanding customers better has never been more important.
Here are seven things we do that help companies fully exploit the value locked in this rich resource. Some are simple, others require effort; all provide great value for money.
The document provides guidance on writing effective creative briefs. It discusses the typical sections of a creative brief, including the challenge, target consumer, insight, brand/product truth, and creative proposition. For each section, it offers tips on how to craft them in a way that will inspire creative solutions. It emphasizes the importance of accurately identifying the challenge, defining the target consumer tightly, finding a genuine insight, focusing on a real brand/product truth, and writing a proposition that bridges everything and excites the creative team. It also includes a checklist for reviewing propositions. The overall aim is to provide tools to create briefs that clearly lay out the problem and strategy to drive innovative advertising responses.
Exaudio provides concise marketing research summaries in 3 sentences or less:
Exaudio assists businesses by conducting marketing research to identify truths about products, services, and customers. They use valid research methods and focus on sound design to provide insights that support business decision-making. Their services include both qualitative and quantitative research methods to understand consumer needs and identify opportunities for businesses.
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Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
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