disruptive innovation - openthinking

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  • 1.Disruptive InnovationOvercoming the market with morethan just lower pricingIyad Mourtada

2. New-Product Development 3. Reasons for new product failureOverestimation of market sizePoor designIncorrect positioning Wrong timing Priced too highIneffective promotion Management influenceHigh development costsCompetition 4. New-Development Process 5. Idea Generation The systematic search for new-product ideasSources of new-product ideasInternalExternal 6. Idea ScreeningIdentify good ideas and drop poor ideasR-W-W Screening Framework: Is it real? Can we win? Is it worth doing? 7. Concept Development and Testing Product ideais an idea for a possible product that thecompany can see itself offering to the market Product conceptis a detailed version of the idea statedin meaningful consumer terms Product imageis the way consumers perceive an actualor potential product 8. Marketing Strategy Development Marketing strategy statement includes: Description of the target market Value proposition Sales and profit goalsBusiness analysis involves a review of thesales, costs, and profit projections to find out whetherthey satisfy the companys objectives 9. Types of Test Markets Standard test markets Controlled test markets Simulated test markets 10. Product Life-Cycle Strategies 11. Product Life-Cycle StrategiesFads are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity 12. Product Life-Cycle Strategies 13. How can great Firms Fail?The Reason for Failure: The Reason for Success: Listen to their customers Listen to their customers Invest in Technology Invest in Technology Satisfy their customers Satisfy their customersnext-generation needs.next-generation needs.Innovators Dilemma 14. Disruptive Innovation 15. ReinventingYour BusinessModel 16. Reinventing Your Business Model1. Articulate what makes your existing model successful. For example, what customer problem does it solve? How does it make money for your firm?2. Watch for signals that your model needs changing, such as tough new competitors on the horizon.3. Decide whether reinventing your model is worth the effort. The answers yes only if the new model changes the industry or market.Johnson, Christensen, and Kagerma 17. Understand Your Current Business model1. Customer value proposition. 18. Understand YourCurrent Business model2. Profit formula.Revenue Cost = Profit XTurnover 19. Understand Your Current Business model3. Key resources and processes. 20. Take a good technology andwrapped it in a great business model 21. Modern Business Approach (MBA 2.0)50 Innovative Ways to grow your business in the Middle EastSaturday, December 22, 2012 9:00 AM 5:30 PMDubai Knowledge Village, Building 19, Office: 208Based on the 4 most innovative business models:Price: AED 2,300 (Early Bird Price: AED 1,590)Email: learn@openthinking.ae Phone: 055 9852570 22. iyad@openthinking.ae