This document discusses how to identify successful new product ideas among many concepts. It recommends starting with understanding the market and innovating concepts. Then it suggests selecting an evaluation process, like weighted scoring, to objectively assess concepts based on strategic fit. The optimal approach starts with thorough market understanding, generates a pool of existing and new ideas, then uses a process like scoring to prioritize products most aligned with goals. This helps move projects forward with confidence they will achieve profitable growth.
Chip Hysler from CM Marketing presents "Launching Your Product- Are You Ready?" Part of an ongoing education series, presented by the Nashville Technology Council and Nashville Entrepreneur Center
Development of a Model of Product Innovativeness for Large Packaged Software:...Steve Remington
This project uses a design science research (DSR) approach to develop a model of product innovativeness for large packaged (i.e. enterprise systems) software. The project was motivated by the lack of a suitable model to assess the level of innovativeness of business intelligence (BI) software products. The design of the model was informed by a literature-based innovation output indicator (LBIOI) content analysis of 17 years of press releases and publicly available financial records to understand the sources, categories and rate of innovation of typical large BI platform vendor, and a concept-centric literature review of academic research on product and customer innovativeness. The model of product innovativeness for large packaged software (LPS) consists of seven constructs and six associations grouped into an industry perspective and a customer perspective. The industry perspective of the model can be used as stand-alone model to determine the inherent level of innovativeness of a new version of LPS, while the customer perspective can be used in conjunction with the industry perspective to assess the level of innovativeness of a new version of LPS relative to the specific circumstances of the customer. The primary contribution made by this research is the detailed definition of a draft model of product innovativeness for LPS that will be useful for academic researchers and practitioners alike, and the extension of the concept of product innovativeness into IS research. The secondary contribution made by this research is a demonstration that the LBIOI method can be used to describe and understand the nature of innovation for a single software company over an extended period.
Chip Hysler from CM Marketing presents "Launching Your Product- Are You Ready?" Part of an ongoing education series, presented by the Nashville Technology Council and Nashville Entrepreneur Center
Development of a Model of Product Innovativeness for Large Packaged Software:...Steve Remington
This project uses a design science research (DSR) approach to develop a model of product innovativeness for large packaged (i.e. enterprise systems) software. The project was motivated by the lack of a suitable model to assess the level of innovativeness of business intelligence (BI) software products. The design of the model was informed by a literature-based innovation output indicator (LBIOI) content analysis of 17 years of press releases and publicly available financial records to understand the sources, categories and rate of innovation of typical large BI platform vendor, and a concept-centric literature review of academic research on product and customer innovativeness. The model of product innovativeness for large packaged software (LPS) consists of seven constructs and six associations grouped into an industry perspective and a customer perspective. The industry perspective of the model can be used as stand-alone model to determine the inherent level of innovativeness of a new version of LPS, while the customer perspective can be used in conjunction with the industry perspective to assess the level of innovativeness of a new version of LPS relative to the specific circumstances of the customer. The primary contribution made by this research is the detailed definition of a draft model of product innovativeness for LPS that will be useful for academic researchers and practitioners alike, and the extension of the concept of product innovativeness into IS research. The secondary contribution made by this research is a demonstration that the LBIOI method can be used to describe and understand the nature of innovation for a single software company over an extended period.
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...CompellingPM
Innovation. Productivity. Quality. Companies understand these as key principles for improving competitiveness and achieving sustainable and profitable growth. Governments also recognize the importance of investing in these principles to make their countries more competitive and to achieve economic growth. Most of the time, investments in innovation, productivity and quality are focused on the products and services and the processes to deliver them. This is a necessary and important investment, but this investment will only achieve a sustainable and desirable result if the central focus is on the market. The key to sustainable competitiveness and growth through innovation, productivity and quality is through a set of "market-driven" principles. Only then can a company (& country) truly succeed.
PRODUCT DEVELOPMENT - Product development means making changes in the size, design, color, shape, characteristics, packing etc. of the product.
NEW PRODUCT DEVELOPMENT PROCESS
How to overcome mind limitations - part TWO. The procedures and methodologies that allow each and everyone to be much more productive as far as generating new ideas; ideation!
.1. introduction to New product development process
2. meaning of new New product development process
what is innovation and innovation
3. New product development process
4. step 1 idea generation
5. step 2 idea screening
6. step 3 concept develop & testing
7. step 4 marketing strategy
8. step 5 business analysis
9. step 6 product development
10. step 7 test marketing
11. commercialization
thank you very much
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...CompellingPM
Innovation. Productivity. Quality. Companies understand these as key principles for improving competitiveness and achieving sustainable and profitable growth. Governments also recognize the importance of investing in these principles to make their countries more competitive and to achieve economic growth. Most of the time, investments in innovation, productivity and quality are focused on the products and services and the processes to deliver them. This is a necessary and important investment, but this investment will only achieve a sustainable and desirable result if the central focus is on the market. The key to sustainable competitiveness and growth through innovation, productivity and quality is through a set of "market-driven" principles. Only then can a company (& country) truly succeed.
PRODUCT DEVELOPMENT - Product development means making changes in the size, design, color, shape, characteristics, packing etc. of the product.
NEW PRODUCT DEVELOPMENT PROCESS
How to overcome mind limitations - part TWO. The procedures and methodologies that allow each and everyone to be much more productive as far as generating new ideas; ideation!
.1. introduction to New product development process
2. meaning of new New product development process
what is innovation and innovation
3. New product development process
4. step 1 idea generation
5. step 2 idea screening
6. step 3 concept develop & testing
7. step 4 marketing strategy
8. step 5 business analysis
9. step 6 product development
10. step 7 test marketing
11. commercialization
thank you very much
Introduction to Entrepreneurial Management - Entrepreneurship 101 (2012/2013)MaRS Discovery District
Starting a new business is not the same as running an operating business. As Steve Blank puts it "a startup is an idea looking for a business model". Over the last decade a number of management practices have emerged that recognizes the particular challenges facing new ventures. In particular, Blank's Customer Development Model and the related "Lean" movement are increasingly popular with entrepreneurs of all sorts. This lecture introduces and define the key concepts of the new entrepreneurial management practices and illustrate how startups can utilize them at any step of their process.
Product Management 101: #1 How To Create Products Customer Love.Jean-Yves SIMON
An introduction to Product Management, for people involved in technology or software companies. Mainly aimed at evangelizing the role and responsibilities across an organization.
This is the #1 presentation out of a serie of 10 sessions.
Special thanks to Marty Cagan @ SVPG for the title :)
Essential Tools for Product Managers and Marketers by Jesse GantProductCamp SoCal
We had fun with this last year. Let's revisit and update the tools and resources that every Product Manager and Marketer should use or at least know about. Come ready to contribute!
Starbucks, Social Media and the Starbucks, Social Media and the Customer E...ProductCamp SoCal
Based on Jeof's upcoming book about Customer Experience companies and how they change products, markets, and people's lives (Published by Brigantine Media). Social media is an important part of product development and customer experience. Why not use it to your advantage? We'll discuss-
-From Buyer Beware to Supplier Beware -- social media has given tremendous power to the buyer.
- How Starbucks first used social media to reinvent its customer experience helping the company turnaround.
- Where did Starbucks' idea for using social media come from?
- How did the customer experience change for the better?
- What do the lessons from Starbucks mean for companies small and large?
- Avoid the most common and costly mistakes made in using social media
- Why a presence on Facebook or Twitter does not always mean effective use of social media
- What should an effective social media strategy begin with?
Join Jeofrey Bean at ProductCamp SoCal 2011 for this engaging and practical discussion about how the best companies, large and small, use social media effectively to build meaningful relationships and contribute to the bottom line.
Using Social Media to Develop and Launch Differentiated Products by Dave Eric...ProductCamp SoCal
How to use Social Media to determine how potential customers see the features of currently available products, and what features they would like a new product to have. We will discuss which media works best for what, and how to get validation for a product feature idea, without putting too much information out there. Then we will discuss how to use the same Social Media channels to launch the new products when they are ready for the market.
What will get you top dollar? What do hiring and HR managers look at? Education, skill-set, title or past companies? Let's breakdown actual titles, salaries, bonus structures, stock options, etc. from entry level positions all the way up to VP and Chief roles. Then we'll wrap up additional skills that are attractive in today's market and how to get them! As always, come ready to contribute.
S#@!? Our Customers Say and Why It's Important to Use Social Media to Track I...ProductCamp SoCal
Do you really know what your customers have to say about your products? Do you WANT to know what they have to say? We'll discuss what real customers are actually saying and the why and how behind using Social Media to manage your public image.
S#@!? Our Customers Say and Why It's Important to Use Social Media to Track I...
Pc sc 2012 Your New Product: Good Concept or Great Product Innovation_final
1. Your New Product: Good Concept or
Great Product Innovation?
(How to Identify the Golden Goose
among the Ugly Ducklings)
2. Chris Marocchi
President: Klear Strat, LLC
Vice President Product Development & Management:
The UPS Stores
Director of Product Management: CB Richard Ellis, Inc.
Product Marketing Manager: ITT Corporation
3. What This Discussion Is About
This presentation is NOT
about product development.
It IS about how we get from Concept Evaluation
ideas to concept to product Product B
development. Product C
Product
A
Product Development
Product Launch
4. Scenario
Your company sells products.
Your products are good.
Your company is profitable.
A recession hits, and profits shrink.
decides the company needs to pivot its
strategy for growth.
5. New Products vs. New Markets
We need to first evaluate how to grow by examining the
product-‐market expansion grid.
Existing Products New Products
Existing Market Penetration Product Development
Markets
New
Market Development Diversification
Markets
6. Question
You decide to develop a new product. But how
do you determine which product to develop?
What is so hard about determining this
Golden Goose?
7. The Problem Defined
How do we identify and prioritize the right mix
of new products to develop?
Many stage/phase-‐based processes tell you
what to do AFTER you have determined which
product to develop.
Product B
Product C
Product
A
8. The Challenge
Multiple Sources of Input
Internal Stakeholders (Executives, Parent
Company/BOD, Sales force, Engineers, etc.)
External Stakeholders (Customers, Shareholders,
Vendors, etc.)
Lack of a Reliable Process
No Crystal Ball
9. Where To Start?
Understand the Market
Innovate Concepts
Select a Process for Evaluation of Concepts
Move Forward with Confidence
10. Step 1 -‐ Understanding the Market
Stefan Thomke How Can a Company Balance
Creativity and Innovation With the Need for
Process and Structure?
"the key, underlying principle of
the problem" and then the
"beautiful, elegant solution that
11. Step 2 -‐ Innovate Concepts
How do we generate product ideas through
innovation?
Product Concepts:
Existing (from internal/external sources)
Need to consolidate concepts Product
Product
A Product
A
Product
A
A
Product Product
Product
A
Product
A
A A
Product
Product
A
Product
A
A
Non-‐existing
Ideation: Brainstorming + Play Theory Thinking
Divergent Support, Wander, Associate, Morph, Inquire
Convergent Sort, Order, Adapt, Refine, Select
12. What the Experts Say
Venkatakrishnan Balasubramanian
Dimensions of the framework for
conceptualizing an idea
The two views of the business model for the idea and the
business strategy of the enterprise combine to give five
important dimensions that an innovator can use to think
through and conceptualize the idea.
1) Competitive Advantage 2) Business Alignment
3) Customers 4) Execution 5) Business Value
13. Step 3 -‐ The Evaluative Process
Processes:
Subjective Approach
Just Do What Your Boss Asks
Arbitrary Selection/TIATWASWS
Objective Approach
Weighted/Scored Analysis
Nail It, Then Scale It
Good to Great
Optimizing the Stage-‐Gate Process
14. Weighted Analysis Scorecard
Strategic Assessment
Identify criteria
Weight criteria
Score each criterion
Add up score and compare with other ideas
15. Nail It Then Scale It
Innovation = The intersection of science and industry.
Science Industry
INNOVATION
INVENTION INSIGHT
16. Good to Great
The Hedgehog Concept = the intersection of what you can
be the best in the world at, what you are deeply
passionate about, and what drives your economic engine.
18. Step 4 Move Forward With Confidence
1. Strategy is in place.
2.
3.
4.
concepts.
5.
development with confidence that your product
will be successful in achieving the goal of
profitable growth.
19. Case Study The UPS Stores
Follows a process that is a
combination of the optimized
stage-‐gate process and
weighted scale analysis.
Pros brings objectivity into
the evaluative process, and
the analysis provides rationale
for the go/no-‐go decision.
Cons Insufficient resources
to adequately evaluate the
quantity of concepts,
interference from executive
staff in the process.
20. Case Study -‐ Apple
Apple used a market
research approach
combined with usability
experience studies.
At first, they tried a
product-‐centric approach
with Motorola, which
failed.
When they brought the
project in-‐house and
based the product on
what the market wanted,
they succeeded.
21. Case Study CB Richard Ellis
BEFORE
In an off-‐site strategy
meeting, we conducted a
brainstorming session
driven by the Hedgehog
concept.
The participants were
divided into 3 teams for
brainstorming.
Ideas generated were then
categorized and
consolidated.
22. Case Study CB Richard Ellis
The intersection of 3 areas. AFTER
What product enhancements
should we pursue?
Improved customer
experience/footprint
Portfolio data/reporting
Improved analytics
Axis Community
Sustainability module
24. Conclusion
Optimal new product introductions will start
with a thorough understanding of the market.
Ideation and a consolidation of existing ideas
will provide a pool of concepts to consider.
Select a process for evaluating and scoring the
concepts based on how well a new product
will align with corporate goals and strategy.
Prioritize projects based on the outcome.