Get a certificate of completion from Tufts University, USA
What Innovation Strategy is Best for Your Product Right Now?
Learn how to identify hidden unmet customer needs
Learn how to develop disruptive vs. sustained strategies.
This workshop is part of Innovation Management Master degree program at Tufts University, Darden School of business, University of Virginia, USA
Who should attend:
CTO / R&D Head
IP Heads, Innovation Leaders
Strategic Marketing Managers/ Planners
Typically, most companies are well adept at deploying Voice of the Customer (VOC) tools to understand the things that are important to their customers. What do customers want? Simply ask them. However, we distinguish three important caveats with regard to deploying VOC data:
- It is important to distinguish between what customers say they want and what they are actually willing to pay for. Understanding this distinction is critical when allocating R&D investment funding.
- Customers cannot ask for features that they are unaware of (you don’t know, what you don’t know).
- Customers may not ask for features that they do not believe are technically feasible.
To address the second and third issues, a tool called Voice of the Product (or Voice of Technology) is used, a complementary approach to VOC aimed at surfacing unmet customer needs. By “interviewing” the product with the aid of a number of analytical tools, the goal is to uncover unmet needs that can be exploited through innovation and offer the potential to capture market share, drive growth.
Uncovering the unmet needs is only one step on the pathway to success. Once those needs are surfaced and validated, there is a way of translating these needs into the functions responsible for driving performance. And, by analytically determining the underlying physical parameters that can constrain performance, we are then well positioned to understand what type of innovation our product needs now – disruptive or sustaining.
The attendees will learn:
- how to identify potential “hidden” unmet needs of customers
- how to understand what kind of innovation our product needs: disruptive or sustain
- how to develop disruptive and sustaining innovation strategies
Day 1: S-Curve Analysis (What kind of innovation is best for your product
- Notion of MPV – Main Parameter of Value and its difference from the Voice of the Customer
- Types of MPVs:
- Strategic and Functional
- Unmet and Satisfied
- Latent and Tacit
- Introduction to tools for identifying latent MPV’s
- using Function Analysis of the product
- using Trends of Engineering System Evolution
- Hands-on Practice
Date: Nov. 15-16
Location: ITC WelcomHotel, Bengaluru
To book: write to email@example.com
Faculty profile – https://www.linkedin.com/in/sergei-ikovenko-4b538/
Day 2: Pragmatic S-Curve Analysis:
- S-Curve Analysis:
- Stages of the S curve
- Indicators and Recommendations
- Development of innovation strategies – what kind of innovation the product needs now:
- Disruptive Innovation
- Sustaining Innovation
- Building Function-Cost Diagrams