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