Marketing Cant Do Innovation
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This is a provocative presentation I gave in London at the Innovation Social event to stir the crowd up a bit. It is the research I have been doing for my masters in Innovation Management as well as identified in consulting roles.
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Marketing cannot do innovation
This presentation was given at Innovation Stories, Innovation Social's annual premium event, on July 6th 2015 in London. Michael Johnston, Strategist at Hirsch & Mann, presented his opinions on Innovation as well as some recent examples of innovation from Hirsch & Mann.
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1) Product managers are well-suited to be intrapreneurs due to their leadership experience, commercial competence, technical experience, ability to navigate politics, and image of being able to execute.
2) The author provides an example of starting an intrapreneurial project with no direction and limited funding, and building it into a successful business with customers and revenue in under a year.
3) A second example details taking on an impossible mission to capture a landmark customer, investing two years and company resources to redefine the company's strategy and deliver for the customer.
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Product management comes with responsibility without true authority, requiring difficult decisions based on limited information. It involves juggling many diverse tasks without being an expert in all areas. Some companies improperly use product managers for project management work instead of product work, which does not scale as well. While agile practices can help, they can also overwhelm product managers. Ultimately, even with the right approach, products can still fail through no fault of the product manager. Key skills for product managers include diplomacy, rapport building, negotiation, detailing benefits, seeking feedback, and being comfortable with failure.
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Recommended
Marketing cannot do innovation
This presentation was given at Innovation Stories, Innovation Social's annual premium event, on July 6th 2015 in London. Michael Johnston, Strategist at Hirsch & Mann, presented his opinions on Innovation as well as some recent examples of innovation from Hirsch & Mann.
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1) Product managers are well-suited to be intrapreneurs due to their leadership experience, commercial competence, technical experience, ability to navigate politics, and image of being able to execute.
2) The author provides an example of starting an intrapreneurial project with no direction and limited funding, and building it into a successful business with customers and revenue in under a year.
3) A second example details taking on an impossible mission to capture a landmark customer, investing two years and company resources to redefine the company's strategy and deliver for the customer.
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Lean Canvas
Cover Story
If you're scaling disruptive innovations with new business models, then you are targeting non-consumers of a category. This increases the level of difficulty and rate of failure. But sometimes the problems are well defined and can be solved through design thinking exercises.
These are just four ways to apply design thinking to customer development. Still, when facilitated appropriately, they provide a strong foundation for defining the current state, understanding the customer, making a business case, and visioning success.
Understand the Customer
Understanding the customer must lie at the foundation of your Business Strategy, your Business Model(s) resulting in Competitive Advantage. Not understanding the customer accounts for everything else we do in business.
מצגת בעז תמיר
The document discusses strategic management approaches from both an inside-out and outside-in perspective. It emphasizes starting strategizing from understanding customer needs and problems rather than a company's existing capabilities. Several frameworks are presented for developing strategies including lean startup methodology, disruptive innovation theory, problem-driven design thinking, and the PDCA cycle for continuous learning and improvement. Effective management is described as focusing on processes, collaboration, and learning rather than just controlling outcomes.
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Marketing Cant Do Innovation
- 1. Marketing can not do innovation Image: Ted Levitt
- 3. Innovation Framework Upstream Innovation (Technical R&D) Downstream Innovation (Customer R&D) Sustaining Innovation (Yesterday’s) Disruptive Innovation (Tomorrow’s) Context
- 4. ‘Innovation is the successful exploitation of ideas that address future customer’s needs to drive growth’
- 5. Tomorrow’s Customer Needs Innovation Equation Ask Questions Offers Possibilities Creates Solutions Build Businesses = Innovation ART TECHNOLOGY DESIGN CUSTOMERS + + + Image: John Maeda
- 6. Why Marketing can not do innovation ? Context -Marketing works in a market that exists -Capabilities become disabilities -Focus on today’s customer needs Image: Ted Levitt
- 7. ‘A startup is an organisation formed to search for a repeatable and scalable business model’ Image: Steve Blank
- 8. Technology Will Save Us Markets
- 9. ‘Capabilities become disabilities’ Image: Clayton Christensen
- 10. Central Saint Martins / Grey Goose Capabilities become disabilities
- 11. Focus on customer needs of tomorrow Image: DunneRaby
- 12. Tomorrow’s Customer Needs FRHANK the artificially intelligent robot
- 13. Tomorrow’s Customer Needs Maille Discovery Spoon
- 14. Questions to prove me wrong Summary -What market are your clients in ? -What do you need to unlearn, learn or relearn -What are your clients future customer needs ? (even beyond their product / service)
- 15. Need to find new opportunities ? michael@michaeljohnston.co @mickstravellin