Creating and Marketing Innovative
Products: From Concept to Commercialisation
Product innovation: How to create winning
products
It is becoming increasingly obvious that innovation
is one of the most important keys to business success in the
knowledge-based economy. The ever-increasing rate of technological
change is resulting in shorter and shorter product cycles,
which drives companies toward continuous innovation. But innovation
is not something that just happens on its own. It requires
special expertise, work practices and methodologies that are
not yet widely adopted. Generating new ideas is difficult
enough, but then choosing the ideas that are most likely to
succeed in the marketplace is also extremely challenging.
Once the most promising ideas have been identified, the process
of commercializing those ideas is fraught with decisions,
risks and pitfalls that will help to determine the success
or failure of new technologies.
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In this workshop, participants will
learn how to:
- Generate innovation
- Evaluate innovations
- Commercialize innovation
- Manage the risks in commercializing innovation
This workshop combines practical experience, expertise, real
world examples, state-of-the-art theory, experiential exercises
and case studies.
Experiential exercise
Participants will work through a series of innovation-related
experiential exercises, including generating new product ideas.
Content
- Sources of innovation
- Developing innovative products
- Seeing for innovation
- Focused observation as a source of innovation
- Expecting the unexpected
- Jumping barriers
- Creating great products and services
- Creative problem-solving for innovation
- Creating an innovation culture
- Identifying and evaluating new ideas
- Using trends and mega trends for idea generation
- Avoiding the wrong ideas
- Pitfalls in selecting new ideas
- Determinants of new venture failure
- Products that could be
- Using brainstorming to enhance innovation
- Understanding change
- The rate of technological change
- Failure and innovation
- Product cycles and innovation imperative
- Successful risk takers
- Understanding risk
- Type of business risk
- Early-stage company risks
- Quantifying risk
- Methods of measuring risk
- Managing risk in innovation
- Market and people risk
- Technology risk
- Financial risk
- Scenario analysis
- The commercialization process
Marketing innovation
When many people think of marketing, they think of
the four Ps (product, price, promotion, and place). But there
is much more to successful marketing, which includes:
- Market analysis
- Strategic marketing decisions
- Marketing mix decisions
- Marketing implementation
Participants in this workshop should gain insight into the
world of high tech and innovative marketing, beyond the 4
Ps.
Experiential exercise
In this workshop we will explore through an experiential
exercise, the model of high-tech marketing developed by Geoffrey
A. Moore in Crossing the Chasm, which is a classic
work on marketing innovative and disruptive technology products.
This model enables companies to break out of the first niche
markets that most startup companies need to sell into in order
to compete successfully and to cross into the mainstream, where
they can achieve significant sales growth.
Content
- Selecting target markets and customers
- Developing and implementing a marketing strategy
- Developing a product that suits customer's needs
- Conveying a product's value proposition to customers
- Positioning and differentiating one's products and services
from the competition
- Devising a marketing response to shifting customer needs
- Understanding the nature of technological discontinuities
and their impact on markets
- How to navigate and create value in such markets
- Understanding the nature of technological discontinuities
and their impact on markets
- Strategy for crossing the chasm into the mainstream market:
- Understanding the nature of technological discontinuities
and their impact on markets
- How to target a very specific, strategic niche market
where you can dominate from the outset
- Understanding the nature of technological discontinuities
and their impact on markets
- How to force competitors out of the market niche
- Understanding the nature of technological discontinuities
and their impact on markets
- Using the niche as the base for future operations
- Understanding the nature of technological discontinuities
and their impact on markets
- Winning over pragmatist buyers in advance of broad market
acceptance
- Understanding the nature of technological discontinuities
and their impact on markets
- Focusing an overabundance of support into a confined market
niche
- Understanding the nature of technological discontinuities
and their impact on markets
- Developing a solid base of references
- Understanding the nature of technological discontinuities
and their impact on markets
- Creating word of mouth
For whom
This seminar is for all persons who want to learn how
to generate and evaluate innovation, and manage risks involved
with commercializing innovation.
Participants in this workshop will gain insights into the
world of high tech and innovative marketing, beyond the 4
Ps.
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