Product Innovation

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Product Innovation CommercializationECE CS
599

• Welcome

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Thought for Today
The reasonable man adapts himself to the world
the unreasonable one persists in trying to adapt
the world to himself. Therefore all progress
depends on the unreasonable man.   George Bernard
Shaw (1856 - 1950), Man and Superman (1903)
"Maxims for Revolutionists"
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The Autodesk File

• Was the crisis over?
• A PR firm?
• 3D?
• Hunter S. Thompson?
• Continue reading?

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Phases of an entrepreneurial venture

• Proof of Concept (invention, can it be done)
• Proof of Commercializability (produced,
  delivered, supported)
• Proof of Business Viability (demand, market size,
  profit potential)
• Implementation (business model, resources,
  strategy)
• Revenue Generation (sales, marketing, support)
• Sustainability (growth, follow on products, new
  markets)

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Product Viability

• Product Viability consists of 3 elements
• Choice of Application(s)
• Market Requirements
• Product Management
• Who figures this stuff out? (the CCBW)

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Choice of Application(s)

• Is it disruptive? (Is disruptive better that
  Unique?)
• Who is the customer
• What are the customers needs
• What is the value proposition
• Will a customer pay for it?
• Is there a large market? (What is the total
  available market TAM)
• Other potential markets? (Other applications)
• Can it be produced?
• Can it be sold? (How is the customer willing to
  but it)
• Can it be distributed?
• Can it be supported?
• What are the support parameters
• Does it have legs? (What is the product
  lifecycle)
• Follow on products. updates, upgrades

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Disruptive Technologies
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Market Requirements Documents

• (MRD)s are "wish lists" used to determine what
  benefits and features products should have to
  succeed.
• Benefits are Points of Pain that a product can
  provide solutions for.
• Customers determine the product features.
• An analysis of the market is done to determine
  if, what and how existing products serve the same
  or similar market(s).
• Market disruption is always a bigger opportunity
  than filling gaps in an existing market.

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Product Management

• Product Management is a term used to describe the
  activities performed in the interest of
  conceiving and delivering a particular product to
  market. The product's functionality is created
  for the user via Product Planning efforts, and
  product value is presented to the buyer via
  Product Marketing activities.
• Product Planning and Product Marketing are
  different disciplines but also very collaborative
  and require synergy between the two.
• Product planning typically deals with these
  activities
• Defining new products and gathering market
  requirements
• Product Life Cycle considerations
• Product portfolio management
• Product differentiation
• Product marketing typically deals with these
  activities
• Product positioning and outbound messaging
• Promoting the product with press, customers, and
  partners
• Bringing new products to market
• Product management typically deals with these
  closely-related functions
• Product planning
• Product marketing
• Program management
• Project management

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Product Planning Interrelationships
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Assignments

• Decide the product with the product team
• Research product viability
• Entrepreneurship text reading
• Pages 453 to 479 Case Analysis of
  communityWeb.com
• The AutoDesk File reading
• Why Lisp?
• Number One
• Prime Time
• Initial Public Offering
• Information Letter 12
• Time of Turbulence
• Memo to everybody
• Remarks at the company meeting
• The Computer Revolution
• Flat-out Programming
• Hardware Lock Debater's Guide

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Guest Speaker Alex Osadzinski
(Venture Funded) StartupsWhats It Like?
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Alex OsadzinskiTrinity Ventures