Non technological innovation:
How to innovate cheaply !
Sophie RACQUEZManaging Director
THE IDEA MONOPOLY ®
Why innovate ?
Context : globalized economy / crisis
More and more competitors
Gain market shares (or not lose existing ones)
Bring innovative goods to compete against low-cost production
Why non technological innovation ?
Non technologicalinnovation
Non expensive Simple Accessible for
SMEs Short time to market
vs Technological innovation
Expensive Complex SMEs need
cooperation (R&D centres, other SMEs)
Longer time to market
So how to be different ?
For us, non technological innovation isbased on the 4P's of the marketing mix
Product Price Place Promotion
1st P = PRODUCT
Design,features, packaging, qualities, etc.
A good packaging increases sales
A product based on consumer needs will sell by itself
1st P = PRODUCT
A packaging can make the difference
Distillery in Raeren, Belgium :
Thanks to a packaging relooking (with the help of a designer), sales grew of 40% in one year time
2nd P = PRICE
Be different and lower your costs : Buy cheaper raw materials Ask your customers to partly produce (Ikea)
Case study :English pottery
3rd P = PLACE
Traditional shop vs : Online shop Mail order Home meetings Specialist shops
(chemist, museum) Vending machines Social networks ...
4th P = Promotion A Good brand name is important
Do you know the multinational firmTCCC?
Technical Committee on Computer Communications?
Thai-Canadian Chamber of Commerce?
The Creative Concepts Company?
OR...
4th P = PromotionGood brand name is important
Do you know themultinational firm TCCC?
The Coca-Cola Company !
Brand name made of 3 letters = 17.576 possibilities
Brand name made of 4 letters = 456.976 possibilities
Case study : SME boat
4th P = PromotionA Good brand name is important
Is your brand name registered ?
Does your brand name belong to you ?
Will you keep it or will you be forced to change (first come first served) ?
The Idea Monopoly®markets your innovation
Your network of consumers, inventors, creative people, entrepreneurs, marketing and
innovation specialists
Ideas brokerTrendspotter
Naming & branding (companies and products names)
For any questions, please contact us at
www.ideamonopoly.com
Thank you for your attention
Place your logo here
Sophie RACQUEZManaging DirectorThe Idea Monopoly®rue de la Presse, 41000 BrusselsBelgiumwww.ideamonopoly.com
© The Idea Monopoly 2009 : Slidecast (slideshow and audio)
