What are the main stages in developing new

product & services??

Generating Ideas

It starts with search of ideas

Ideas can come from interacting with various group

Demand-First innovation & Growth

• The Demand landscape

• The opportunity space

• The strategic blueprint

Interaction with others•Customers

•Scientist•Engineers•Employee•Members •Top Management

Never

•Assume that “ready to do” ideas found outside are truly ready to go.•Underestimate the internal resource required• Launch without a mandate from CEO

Interaction with employee

Employees can be source of ideas for improving production, Products and Services.

Studying Competitions

Companies can find good ideas by research of competitor products.

Adopting Creativity Technique

• Attribute Listing

• Forced Relationship

• Morphological Analysis

• Reverse Assumption Analysis

• New Context

• Mind Mapping

Using Idea Screening

OverallProbabilityOf success

XXOverall Probability of Success

=

Probability of Technical completion

Probability of commercialization of given technical completions

X XProbability of Economic success given commercialization

Recap:• Generating Ideas

• Best new product ideas are right in front of marketer eyes

• Demand first innovation and growth

• Interaction with others

• Interaction with employees

• Studying competitions

• Adopting creativity technique

• Using Idea screening

Credits:• www.google.com

• www.flickr.com

• www.hdwallpapers.com

Created by: Ishwarkumar Teggi,

Siddaganga Institute of Technology, Tumakuru

During an Marketing Internship by

Prof. Sameer Mathur,

IIM Lucknow.(See:www.IIMInternship.com)

THANK YOU…