Innovation Marketing
Innovation Marketing
Innovation Marketing
Set of flashcards Details
| Flashcards | 30 |
|---|---|
| Language | Deutsch |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 22.12.2013 / 16.10.2023 |
| Weblink |
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Innovation Dimensions or characteristics of innovations
- Intensity Dimension (incremental to radical)
- Technological novelty
- Market novelty
- Environment novelty
- Organisational novelty
Different types of innovation require different strategies
- Market Innovation
- Radical Innovation
- Marginal / Incremental Innovation
- Technological Innovation
Innovation engines
- Idea driven,
- research driven
- and analysis driven
Product development as a process:
The Stage-GateTM – prozess is a five step model of product develpment from idea generation to market entry.
To determine in those examinations „what is success“ is more challenging than one would think it is on first sight. Which criteria are most relevant to you?
- Criteria to measure success on project level
- Success on the market
- Finacnial success
- Technological performance - Criteria to measure success on corporate level
-...
The competitive innovation advantage (CIA) is based on the KKV definition of Backhaus. Analysis shows that the CIA is the dominant factor for innovation success.
1-5
TechAdvance
- People
- Technology potential
- Market attractiveness
TechAdvance
- Recognition
- Preperation
- Exploitation
Challenges for Marketing?
Your challenges as entrepreneur?
You find yourself with your task rather in the role of an entrepreneur. You are creating an innovation and you have to do it on your own.Entrepreneur.
Abell described technology push and market pull innovations as follows.
- Technology Push
- Market Pull
Only a limited number of companies per industry will have the resources and/or capabilities to be “innovation leaders” and create breakthrough products.
For mostcompanies a“fast follower”strategy issufficient, whichresults in acompletelydifferent set ofrequiredcapabilities andresources
Three therories regarding the development and diffusion oftechnologies are summarized
- Network approach
- Evolutionary approach
- Theory of diffusion of innovation
Summary of adopter categories within the diffusion process.To reach the tipping point is critical to ‚win‘ the market
- Innovaters
- Early Adopters
- Early Majority
- Late Majority
- Laggards
Market Pull – customer analysis: as the product innovationsuccess factor research has shown, the CIA is the mostimportant success factor. So customer analysis is important.
- Actual needs
- Latent needs
- Future needs
Another method to examine actual needs and customer
satisfaction is the KANO-model
- Needs andrequirements areclassified in ‚basic‘,‚performance‘ and‚excitement‘ needs
- Basic needs are socalled hygiene factors.They have to befulfilled. If notcustomers are unhappy.
- Performance needsare used fordifferentiation fromcompetition.
- Factors that addressexcitement needsdelight the customer,are perceivedemotionally.
What is the difference between a company founder and anentrepreneur?
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Innovation requires change within the mind, with creativityand learning contributing to this process.
Creativity is generally defined as the production of novel, useful ideas, or solutions to problems (Amabile1988 ; Oldham and Cummings 1996 ) . It refers to both the process of idea generation or problem solvingand the actual idea or solution.
Creativity is the result of inspiration and cognition, and theapplication of talent in a nurturing and even provocativecontext. It is mostly a private and individual process.
- Creativity
- 7 Sources of Innovation by Drucker
Limbic map based on Georg Häusel. It is one of several modelto descripe the motive & emotional system of humans!
Based on the model different ‘value inclination’ or ‘motive’segments have been distinguished.
- Adventure Thrill
- Discipline Control
- Fantasy Pleasure
Neuro science results show the differences in our valueinclination between men & women as well as between culturesand as a function of time.
- Women
- Men
A business model can be described based on nine
dimensions.
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The definition of a business model is an important step in thedevelopment / implementation of an innovation. It includes ademand forecast.
The forecasting method is determined by forecasting objectives and general conditions.
Selected forecasting methods: it does not need verysophisticated tools. It is the process of estimation in unknownsituations – and based on quantitative / qualitative methods.
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The forecasting time horizon is usually linked to the methodapplied : for short term periods quantitative methods areused; longer time periods are mainly based on judgments.
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Global Innovation – R&D: Share of foreign R&D facilitiesincreased in international corporations from 46% in 1975 to66% in 2004.
Research and development
Global innovation by metanational management: the conceptuses the knowledge transfer as central instrument for themanagement of transnational companies.
Metanational management for building knowledge
The perfect launch requires interaction of several functionalunits either in cross functional projects or in the companyorganization.
- Demand
- Supply
- Product
While in closed innovation models companies develop Ideasonly internally from R&D to market launch, in open innovationmodels also external ideas are developed via cooperation.
- Closed Innovation
- Open Innovation
The different principles of closed vs. open innovation modelsare summarized in the table. To change the model a significantchange of mindset and new capabilities are required.
- Closed innovation model - Principles
- Open innovation model - Principles
There are several other open innovation tools, some of themhave been listed.
Open innovation toolkits
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