Creating Innovative Brand, Product, and Services
Daniel Judah
Goals of Innovation
Provides BETTER customer value proposition
Innovation
Brand
Product
Values
Key Processes
Profit Formula
Key Resources
Innovation :
• Key Resources : on how a firm resources is used
• Brand : on how a firm is using images, and messages as his branding
• Product : on how the firm creates the product
• Values : on how the firm changes how the customer looks at the company, and how the company looks and itself
• Key Processes : on how the company changes itself
• Profit formula : on how the company gains the money / monetization.
Innovation that bring values directly to customer :• Product or services innovation• Key Processes• Key Resources
Innovation that bring values indirectly to customer :• Brand innovation• Values innovation• Profit formula innovation
Incremental and Breakthrough Innovation
Incremental Innovation Breakthrough Innovation
Usually done regularly Not done regularly
Add little values Add huge values
Reward is small Reward is huge
Carries no risk Carries bigger risks
Done as a response to competitors Done to beat the competitors, or to expand to another field of business
Usually related to product Related to how customer value the product as a whole, not only from its features.
Construction Destruction
Construction :• Creating new products• Creating new services• Creating new values
Destruction :• Destruction of incumbent defense• Destruction of innovator offense
How to Implant Innovation
• Stimulate internal staff to innovate
• No punishment, but rewardedTraining of Internal
Staff
• Look up for creative talents
• Human resource development actions
• Samsung
Bringing in creative talents
• Open of ideas from the lower management
• Management actions
• Toyota
Senior Management Involvement
• Question of confidentiality
• For hard to achieve creativityOutsource Ideas
Sou
rces
of
Idea
s
Internal
R & D
Employee Suggestion
Business Development Department
External
Customers
Competitors
Suppliers / Distributors
Technology
Customer as Sources of Ideas
Co-creation
• Invite customers to participate in developing new products
• Provide the tools
• Usually in B2B business
• Boeing, Lego, Harley Davidson
Lead user analysis
• Identify most advanced customers and act on it.
Crowd sourcing
• Solicit ideas from other groups
• Uses of Internet for crowd sourcing.
• Fiat, Cisco.
Methods
Customer groups
Internet
Formal innovation board
Identify
Problems
Usage
Expectation
Activator Browser Creator Developer Executor
Generation
Screening
Development and Testing
Strategy Dev.
Business Analysis
Product Development
Commercialization
Blue Ocean Strategy and Innovation
Values
Reduce
Eliminate
Raise
Create
Reduce : what values must be put under industrial standard, for example prices, turn around times, lag, etc.
Eliminate : what values that could be eliminated that is prevalent in industry
Create : what values that could be created that is none in the industry.
Raise : what values that could be put over industrial standard, such as quality, strength, etc.
Morphological Analysis
Objective
Attributes
Options
Evaluate
Objective : defines what is the objective of the innovation.
Attributes : defines the component attributes of the object, for example speed, prices, etc.
Options : defines what options we have for the attributes, and what options we would take for such attributes.
Evaluate : Evaluate the final product.
Other Methods
Lateral Marketing
• Displacing current product with the innovative products.
Visits
• Direct visit to gain ideas and new ways to solve problems
Brainstorming
• Problem solving that focus on getting no criticism when defining ideas
Synetics
• Problem solving that focus on getting little information and then expanding the scope of the problem
Benefit of Brand
•Higher price
• Better distribution channel
•More products/items
Brand Characteristics
• Strong
• Innovative
Brand Characteristics
IdentityName
Slogan
Logo
Other Elements
ImageMemorable
Meaningful
Likeable
Transferable
Adaptable
Protectable
Stages of Brand
Recognition Bonding
Advantage
Performance
Relevance
Presence
Trial / Demo
Actual Performance
Continuous Support
Advertising
Future Present
Brand Asset Valuator Model
Brand Asset Valuator Model
Differentiation
Cultural currency
Point of difference
Relevance
Consideration
Trial
Esteem
Perception of quality
Loyalty
Knowledge
Awareness
Customer experience
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