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Principles of Innovation, Entrepreneurship and Marketing > 2 > Flashcards

2 Flashcards

1
Q

Definition Fuzzy End innovation

A

Activities that come before the formal and well structured new product (technology/service) portion of innovation.
- Fuzzy = less well defined, less clear what aim/procedures is

e.g.:
- opportunity identification/assessment; idea generation

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2
Q

problems in managing the front end

1-3

A

1 lack of highly profitable ideas
- feed innovation process faster with highly profitable products

2 lack of understanding where profitable ideas come from
- perceived as coming from one brilliant individual (anecdotes, but no origin known)

3 front end perceived as mysterious
- low degree of accountability
- unclear responsibilities

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3
Q

Definition Opportunity

A

A business or technology gap between the current situation and an envisioned future in order to capture competitive advantage, respond to a threat, or solve a problem.

  • gap between now and envisioned future
  • capture advantage, respond to threat, solve a problem
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4
Q

Definition Idea

A

The most embryonic form of a new product, process or service. Often a high-level view of the solution envisioned for the problem identified by the opportunity.

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5
Q

Definition Concept

A

Has a well-defined form, including a description of the primary features and customer benefits combined with an understanding of the technology needed.

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6
Q

Main Clusters of Fuzzy FEI actives

1-4

A

FEI: Front End Innovation

1 Trend Analysis
- understanding external environment (business units, customers)

2 Opportunity Analysis
- gaps between present state and envisioned future

3 Idea generation
- creating alternatives for solutions

4 concept development
- combining ideas into concepts (primary features, customer benefits)

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7
Q

Trend Analysis Methods

1-5

A

1 scenario planning

2 trend workshops

3 customer innovation workshop

4 coolhunting

5 open technology scouting

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8
Q

Trend Analysis Methods

1 scenario planning

A
  • setting future strategies
  • explore outcomes of technological/competitive developments

e.g.: Autonomous Driving in automotive market

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9
Q

Trend Analysis Methods

2 trend workshops

A
  • interactive workshop format
  • generate new ideas concerning handling the future
  • like trend flower method
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10
Q

Trend Analysis Methods

3 customer innovation workshop

A
  • interactive workshop format
  • flexible interaction with customers in all stages
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11
Q

Trend Analysis Methods

4 coolhunting

A
  • oberservations/predictions in changes of new or existing cultural trends
  • word derives from the ascetic of „cool“: what’s cool at the moment?
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12
Q

Trend Analysis Methods

5 open technology scouting

A
  • scan technology landscape for a given technology need area
  • using open innovation platforms for technological broadcast
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12
Q

Sources of unidentified opportunities

1-4

A

1 underutilized resource (manufacturing process, operation, strong franchise)

2 new resource (discovery of new material)

3 external mandate (stagnant market with competitive threat)

4 internal mandate (new products used to close long-term sales gap, senior management desires)

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13
Q

Methods for opportunity Analysis

1-4

A

1 technology forecasting

2 outcome-driven innovation

3 competitor intelligence

4 netnography

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14
Q

Methods for opportunity Analysis

1 technology forecasting

A

goal: capturing driving technological forces of business (graphically)
- what opportunities come out of that developments?
- core outcome: interactive process of the mapping process

e.g: IoT, connectivity

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15
Q

Methods for opportunity Analysis

2 outcome-driven innovation

A
  • dedicated (qualitative) market research analysis
  • goals: identify unfulfilled latent customer needs & translate into market opportunities
16
Q

Methods for opportunity Analysis

3 competitor intelligence

A

transform disaggregated competitor information into relevant/strategic knowledge

17
Q

Methods for opportunity Analysis

4 netnography

A
  • analyzing social media data and online consumers
  • identify latent need and early concepts
18
Q

Netnography

1-4

A
  • Observing users in online communities
  • extracting sticky information
  • Sticky information = information that is costly to acquire and to transfer
  • customer needs are sticky —> they don’t normally know that they want
19
Q

Streetscooter

1 Trends

2 Opportunities

A

1 trends:
- significant increase in e-commerce -> increase of logistics -> increase of pollution
- increase need for environmentally friendly deliveries
- globalization: faster and more efficient product development

2 opportunities:
- large OEMs unable to offer solution
- reduction of CO2 emission despite increase of logistics (e-mobility)
- competitive advantages through “green distribution”
- manage serial production in short time with small team, small investment

20
Q

Generating ideas

1

2

A

1 frustrated user: gather existing concepts
- inside organization
- outside organization

2 dedicated firm activity: creating concepts internally
- market research (voice of customer)
- creativity techniques

21
Q

Product Concept Definition

benefits
form
Technology

A

A product concept is a verbal or prototype statement of what is going to be changed and how the customer stands a gain or lose.

required inputs:

  • Benefits: needs or desire of customers are satisfied
    Form: physical or service
    Technology: source by which the form is to be attained
22
Q

Streetscooter

Elements of new product concepts

1 Benefit

2 Form

3 Technology

A

1 Benefit: environmentally friendly, adapted to specific needs of DHL

2 Form: low-cost, flexible vehicle specific to daily needs of users

3 Technology: cost-efficient battery technology, environmental friendly

23
Q

Netnography: Areas

1-6

A

1 online communities (spot trends and opportunities)

2 open online communities (voice of customers)

3 firm-organized communities (emotional bonds with customers)

4 private proprietary online communities (enable customer support)

5 user organized forums (leveraging brand knowledge from customers through brand communities)

6 pilot user communities (leveraging product knowledge from customer brand communities)

24
Q

Identifying the Jobs of a product

1-3

A

1 Challenge
- customers buy products/services to get certain jobs done
- problems independent of a particular product solution

2 Approach
- quantitative research: asking customer about problems/existing solutions
- qualitative research: validation with large groups of customers

3 Goals
- reveal customers true needs
- address all innovation possibilities (focus on needs not on particular technology)
- identify new business models

25
Q

JOBS-Based thinking

A

“People dont want to buy a quarter-inch drill, they want a quarter-inch hole” Levitt

  • job is a stable factor over time
  • products/services are temporary solutions
  • products are evaluated based on their contribution to a solution
26
Q

J
O
B
S

A

J: jobs-to-be-done
- problem or goal of customer
- “delivering parcels efficiently & environmentally friendly”

O: objectives/outcomes
- functional, emotional, social metrics
- “minimizing time to deliver parcels”

B: Barriers
- factors inhibiting getting the job done
- “bulky cars, underdeveloped battery tech”

S: Solutions
- products, services, compensating behaviors
- “revolutionary, customer-focused innovation approach”

27
Q

JOB Map

1-8

A

1 Define (plan, select, determine)

2 Locate (gather, access, receive)

3 Prepare (set up, organize, examine)

4 Confirm (validate, prioritize, decide)

5 Execute (perform, transact, administer)

6 Monitor (verify, track, check)

7 Modify (update, adjust, maintain)

8 Conclude (store, finish, close)

28
Q

Formulating Jobs: 3 Dimensions

1-3

A

1 Action Verb: “maximize..”

2 Object of Action: “..my kids safety..”

3 Contextual Clarification: “..in case of an accident.”

29
Q

Findings of market segmentation by companies

A
  • market much larger, their share smaller
  • their real competitors are not their product category
  • growth potential is greater
  • required innovation is a service or business model innovation
  • competitors cannot copy easily
30
Q

Empathic Design

A
  • customers don’t know what they want
  • have difficulties verbalizing their needs
31
Q

Empathic Design

1 Challenge

2 Approach

3 Goals

A

1 Challenge
- customers cannot envision future solutions
- cannot verbalize needs
- solutions are unknown

2 Approach
- observing customers behavior in non-intrusive way
- gather infos: interaction, habits, validation of emotional and aesthetic product features

3 Goals
- concept based on unarticulated customer needs
- create breakthrough designs in shorter cycles

32
Q

Empathic Design

Process

1-4

A

1 Search field definition
- target segments
- focus field
- permission for observation (labor council)

2 capturing data
- capture observations (non-intrusive)
- use photos/videos
- note critical incidents

3 evaluation and documentation
- share and extract observations
- cluster observations
- formulate problem statements

4 reflection and analysis

33
Q

Empathic Design

Findings @Streetscooter

1-4

A

1 flat A-column hampers driver getting into car
2 wasted space through wheel housing area
3 heavy tailgate leads to dirty hands
4 2nd seat not needed

34
Q

Empathic Design

Solutions @Streetscooter

1-4

A

1 improved viewing conditions
2 loading area: improved accessibility (3 doors)
3 loading door: designed for opening and closing 250k times
4 improved interior design
5 robust and easy to repair bumper
6 door designed for opening and closing one million times

Principles of Innovation, Entrepreneurship and Marketing (7 decks)

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