Ten Types of Innovation Flashcards
Upsell
Service innovations ensure and enhance the utility, performance, and apparent value of an offering.
Experience
Service
Structure innovations are focused on organizing company assets - hard, human, or intangible — in unique ways that create value.
Configuration
Structure
Brand innovations help to ensure that customers recognize, remember, and prefer your offerings to those of competitors or substitutes.
Experience
Brand
Channel innovations encompass all the ways that you connect your company’s offerings with your customers and users.
Experience
Channel
Customer Engagement innovations are all about understanding the deep-seated aspirations of customers & using those insights to develop meaningful connections.
Experience
Customer Engagement
Network innovations provide a way for firms to take advantage of other companies’ processes, technologies, offenngs, channels, and brands, even share nsk in developing new ventures.
Configuration
Network
Process innovations involve the activities and operations that produce an enterprise’s primary offerings. They form the core competency of an
enterprise, and may include propnetary approaches that yield advantage for years or even decades.
Configuration
Process
Product Performance innovations address the value, features, and quality of a company’s offering. Involves both entirely new products as well as updates & extensions.
Offering
Product Performance
Product System innovations are rooted in how individual products and services connect or bundle together to create a robust and scalable system.
Offering
Product System
Innovative proft models challenge industry assumptions find a fresh way to convert a firm’s offerings and other sources of value into cash.
Configuration
Profit Model
