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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

Sr. /Directors

IP Heads, Innovation Leaders

Strategic Marketing Managers/ Planners

Entrepreneurs 

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:

  1.  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.
  2. Customers cannot ask for features that they are unaware of (you don’t know, what you don’t know).
  3. 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

  1. Introduction
  2. Notion of MPV – Main Parameter of Value and its difference from the Voice of the Customer
  3. Types of MPVs:
  • Strategic and Functional
  • Unmet and Satisfied
  • Latent and Tacit
  1. 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 info@proinnconsultancy.com

Day 2: Pragmatic S-Curve Analysis:

  1. S-Curve Analysis:
  • Stages of the S curve
  • Indicators and Recommendations
  1. Development of innovation strategies – what kind of innovation the product needs now:
  • Disruptive Innovation
  • Sustaining Innovation
  • Building Function-Cost Diagrams

Date: Nov. 15-16

Location: ITC WelcomHotel, Bengaluru

To book: write to info@proinnconsultancy.com

Among the companies that repeatedly conducted this workshop include:

General Electric, Intel, Procter & Gamble, Samsung, Hyundai Motor Company, ABB, Unilever, Philips, BMW, LG, General Motors, ENI, Boeing, Nestle, Alcoa, Whirlpool, Electrolux, Philip Morris, Mitsubishi Heavy Industries and many other corporations.