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High-Tech Marketing > Week 3-Dani > Flashcards

Week 3-Dani Flashcards

Topic -- Innovation Creation: Processes for New Product Development

1
Q

What are the three categories of innovation from Doblin’s Innovation Wheel?

A

Configuration, Experience, and Offering

HINT: read this article from class to better understand these categories: https://www.visualcapitalist.com/10-types-of-innovation-the-art-of-discovering-a-breakthrough-product/

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2
Q

What are the 4 types of Configuration innovations?

A
  • Profit model (how you make money)
  • Network (connection with others to create value)
  • Structure (alignment of your talent and assets)
  • Process (signature or superior methods for doing your work)
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3
Q

What are the 4 types of Experience innovations?

A
  • Customer engagement (distinctive interaction you foster)
  • Brand (representation of your offerings and business)
  • Channel (how your offerings are delivered to customers and users)
  • Service (support and enhancements that surround your offerings)
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4
Q

What are the 2 types of Offering innovations?

A
  • Product system (complementary products and services)
  • Product performance (distinguishing features and functionality)
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5
Q

What are the product life cycle stages (in order)?

A
  1. Development
  2. Introduction
  3. Growth
  4. Maturity
  5. Saturation
  6. Decline
    NOTE: Product life cycles don’t have to end, you can revitalize or reposition products to extend their life
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5
Q

What is the Stage-Gate model?

A

Process used in product development to move from one stage to the next
- also known as the phase-gate model

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6
Q

What are the stages and the “gates” in the original Stage-Gate model by Robert R. Cooper?

A

Stage 0: Discovery
GATE 1: Idea Screen
Stage 1: Scoping
GATE 2: Second Screen
Stage 2: Build Business Case
GATE 3: Go to Development
Stage 3: Development
GATE 4: Go to Testing
Stage 4: Testing & Valuation
GATE 5: Go to Launch
Stage 5: Launch
Stage 6: Post-Launch Reviews

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7
Q

What are the three updated versions of the Stage-Gate model and when would you use them?

A
  1. Stage-Gate Full - 5 stage process, like the original, for major new projects
  2. Stage-Gate XPress - for moderate-risk projects, including extensions, modification & improvements
  3. Stage-Gate Lite - for very major changes like sales-force and marketing requests
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8
Q

What is the structure of the Stage-Gate XPress process?

A

Stage 0: Discovery
GATE 1: Idea Screen
Stage 1: Scoping
Stage 2: Build Business Case
GATE 3: Go to Development
Stage 3: Development
Stage 4: Testing & Valuation
GATE 5: Go to Launch
Stage 5: Launch
Stage 6: Post-Launch Reviews

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9
Q

What is the structure of the Stage-Gate Lite Process?

A

Stage 0: Discovery
GATE 1: Idea Screen
Stage 1: Scoping
Stage 2: Build Business Case
GATE 3: Go to Development
Stage 3: Development
Stage 4: Testing & Valuation
Stage 5: Launch
Stage 6: Post-Launch Reviews

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10
Q

What are the 6 steps in the Product Development Process and their exit criteria?

A

STEP – EXIT CRITERIA
1. Ideation – Approval to go to the discovery phase
2. Product Definition – Created business case
3. Prototyping – Confirmation of business case and GTM plan
4. Detailed Design – Design complete
5. Validation/Testing – Product quality demonstrated, initial customer acceptance
6. Commercialization – Generating revenue

NOTE: Step 1 is in the discovery phase, 2-5 are in the product development phase, and 6 is the launch phase

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11
Q

What is the benefit of the Product Development Process versus the Stage-Gate model?

A

They are similar, but the Product Development Process model allows movement back and forth between steps

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12
Q

When do the following things happen in the Product Development Process?
Strategic alignment, funding release, MVP (minimum viable product) release, and 1st version of the product release

A

Strategic alignment: upon completion of stage 2 (product definition)
Funding release: upon completion of stage 3 (prototyping)
MVP release: upon completion of stage 5 (validation/testing)
V 1.0 release: stage 6 (launch/commercialization)

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13
Q

What is “agile”?

A

A set of values and principles that help firms stay nimble, flexible, and adaptable (i.e. help they stay agile)
NOTE: we see agile a lot more in digitals or born digitals

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14
Q

Based on Coveillo and Joseph’s research, what is the NPD process for major innovation?

A

4 stages in a non-linear process with Ongoing Feedback that all loop forwards and backward into each other:
1. Opportunity recognition
2. Customer-based funding
3. Development & testing
4. Wider communication

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15
Q

What are the REACTIVE and PROACTIVE customer roles associated with each step of the NPD process, and which two did Coviello and Joseph identify as necessary for a successful launch of a major tech innovation?

A
  • = these two customer roles were omitted from evidence in the launches that failed

Opportunity recognition
Reactive: Source of latent needs
Proactive: Requester

Customer-Based Funding*
Reactive: Development buyer
Proactive: Early buyer

Development and Testing*
Reactive: Technical advisor
Proactive: Co-developer

(Wider) Commercialization
Reactive: Approver
Proactive: Promoter

Feedback
Reactive: Sounding board
Proactive: Critic

16
Q

What is the general advice given by Marin Lucina on how to make great tech products?

A
  • Focus on the USER and all else will follow
  • Need three modes of operation
    a) discover
    b) de-risk
    c) deliver
17
Q

What are the three key points in Lucina’s ‘discovery’ mode of operation?

A
  1. Use small data – 80% of insights can be found through 6 people in your audience
  2. Be scrappy – have an “ongoing” mindset (recurring research, meetings, etc) instead of a “project” mindset (“once it’s ready we’ll do x”)
  3. Know how to ask and the right way to ask questions (open-ended Q’s vs closed end)
18
Q

What is the key point in Lucina’s ‘de-risk’ mode of operation?

A

Build to LEARN

sub points:
- try out multiple cheap ideas, get them in font of customers quickly (build “cupcakes”)
- watch reactions (better than feedback)

19
Q

What are the four key points regarding “squads” in Lucina’s ‘deliver’ mode of operation?

A

This is the development piece - make use of cross-functional squads

  1. the squad’s mission should be a business OUTCOME, not outPUT (ex. NOT making a new product/deisng/etc, BUT YOU ARE trying to boost conversion by 20%)
  2. the employees should be 95% autonomous with the squad as their primary home
  3. the squad experiments with how to achieve outcomes through discovery & de-risking
  4. Focus is always on ‘try again’ to learn
20
Q

What were the 8 key takeaways from the Brian Chesky (AirBNB) Master of Scale interview?

A
  1. Looked for opportunities
  2. Got to know users one by one
  3. Handcrafted offer based on user feedback
  4. Needed passionate feedback
    5 Didn’t listen to all users (figured out who to ignore)
  5. Stayed focused
  6. Pruned, compacted, distilled
  7. Looked orthogonally (statistically independent)
21
Q

What are some ongoing sources of data?

A
  1. USERS
  2. Online surveys
  3. Text mining
  4. Complaints & returns
  5. Service calls
  6. Customization requests
  7. A/B testing
  8. Machine learning
  9. Community boards
  10. Onboarding & exits of customers
22
Q

What are some examples of different contexts that affect NPD (new product development)?

A
  • What is the type of tech? ex. is it SaaS or hardware?
  • Firm size (effects resources, flexibility, agility, etc)
  • B2B vs B2C (impacts customizability and what users you listen to)
23
Q

Thomke (2020) “Building a culture of experimentation” article summary:

A

High-Tech Marketing (12 decks)

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