Innovation Part 2: Innovation in Action

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Innovation Part 2 Innovation in Action

• By Tom Gorman
• 7 Designing Testing
• 8 Rolling out New Products

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7 Designing Testing

• INNOVATION is the physical form of an idea.
• DESIGN is the determination of how it will look,
  feel, and work.
• DESIGN affects cost, materials, safety,
  manufactrability, storage, distribution and
  delivery.

• DESIGN underlying plan for structure and
  function.
• The Snot Spot

www.snotspotgear.com/product.html
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Design Example

• The Puzzle Alarm wakes you up by firing four
  puzzle pieces up in the air, then it is your
  mission to get the pieces and put them back in
  the alarm clock or it wont turn off until then.
  Price52via Gizmodo

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Design Example

• Holofiber is embedded with microscopic mineral
  crystals that harness certain wavelengths of
  light as well as the body's radiant energy and
  redirect them into the body. This relaxes the
  capillaries in the skin, increasing blood flow
  and oxygen delivery to the tissues
• EcoSpun fiber - made from 100 post consumer
  recycled plastic bottles. Recycling saves energy,
  reduces oil consumption and waste in our
  landfills.

• Two new fibers combined

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Design Example

• Strain-Reducing Wheeled-Leverage Snow Shovel
• scoops snow and allows you to throw it into piles
  as high as 4', greatly reducing strain on your
  back.
• can be adjusted for various body heights and snow
  levels
• Item 72777 .............119.95 SOLD OUTDue to
  the popularity of this item.

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7 Designing Testing
Getting Design Right

• Customers expectations desires
• Cost of materials, assembly, packaging,
  transportation storage, installation
• Durability, maintenance, repair, parts
  availablility, technical service skill
• Customization factors

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7 Designing Testing
FUNCTIONALITY

• It does what it is supposed to do and performs to
  expectations
• It is safe easy to use
• Has the parts needed to perform its function no
  more / no less
• Form follows function.
• Aesthetics still count

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Design Example

• Cell towers needed to maintain your cell phone
  signal are polluting our landscape.
• Ericsson has started creating designs for cell
  phone towers that arent nearly as ugly as some
  the ones we are accustomed to seeing.

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7 Testing

• Product Testing determines how well the product
  or service works for the customer
• Test design, usage, instructions, quality,
  performance, durability.

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7 Product Testing

• Know what you want to test. Develop ways to
  measure those thing,capture information
• For B2B products services, test for
  compatibility with current operations and client
  customization
• If products are complex, guage instructions,
  training support needed.
• Note features users like/dislike
• Note misuse danger

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7 MARKET Testing
PRICING DECISIONS SALES FORECASTS

• Market testing is used for assessing buying
  behavior
• Best used to assess - PRICING DECISIONS SALES
  FORECASTS (Purchase Volume estimation Price
  Sensitivity)
• Cost and skills needed for statistically
  significant samples just isnt practical for many
  products.

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8 Rolling out New Products
PRODUCT LAUNCH Go to Market Strategy

• the actions necessary to
• produce at a larger volume,
• plan and execute marketing,
• hire train sales and support personnel,
• select distribution channels, and
• prepare to sell and support the product.

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8 Rolling out New Products
PRODUCT LAUNCH Go to Market Strategy
Emphasize Early Adopters
Crossing the Chasm Marketing and Selling
High-Tech Products to Mainstream Customers (1991,
revised 1999), is a marketing book by Geoffrey A.
Moore
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8 Rolling out New Products
Attend to the 5 Ps of Marketing

• Product
• Price
• Packaging
• Place
• Promotion.

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8 Rolling out New Products

• Find first buyers (innovators early adopters)
• Consumers target demographics
• Socio-economic characteristics
• B2B rapidly growing or established companies
  with excellent reputations

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8 Rolling out New Products

• Value Proposition Unique Selling Proposition
• Why the customer should buy the product
• Distinguishing or unique benefits of the product
  or service
• Competitive advantages and high performance

Example from Outsourcing IT Services http//glowto
uch.org/proposition.html
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8 Rolling out New Products
Tackle SALES CHALLENGES Find the right
retailers, wholesaler, OEM (original equipment
mfgs.) and other middlemen to help bring product
to customer
.
http//ww2.nscc.edu/gerth_d/MKT2220000/Lecture_Not
es/unit13.htm
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The End