How can Innovation be deferantiated from Invention?
How can the Degree of ‘Newness’ of an Innovation be described?
What are typical conflicts companies experience when pushing for innovation?
What is very important when evaluating customer needs?
Dissatisfiers are weight very strongly against Delighters
What is understood as the four organic growth stragegies in the context of outcome driven innovation?
What does the SCAMPER Acronym stand for and what does it try to replace?
SCAMPER tries to be an alternative to classical brainstorming sessions.
SCAMPER stands for:
Apply SCAMPER to a product and check with the example given.
SAMPER Example:
How are the two basic ways to create willigness to pay differentiated
You can either:
Serve a need (e.g. what are furstrations of a customer —> Pain that can be solved) | (e.g. Post it/ Easy trash sacks)
Cereate a need (e.g. What does a customer need to achieve their goals —> Gain a customer can get) | (e.g. Smartphone/ Whoo - Kite Jump height measurement)
How is the development of a business model motivated?
Technology itself does bring no/ little value by itself to customer
Business models make technology accesible ot customer and can gain value from the technology
Often times a business modell innovation itself can lead to growth (up to 6% more growth)
What is described by the “not invented here syndrome”?
It describes the reluctance to use ideas/ technologies that have not been developed in the own peer group (In this sence the peer group can be understood broadly, e.g. the department, company or working group)
What are the three major challanges for Business model innovation?
1) Thinking outside of the own industry logic
2) Thinking in terms of business model rather then thechnology/ products
3) (Lack of systematic tools to create/ analyze business models)
Briefly describe the business model canvas
The business model canvas is a template to describe exisiting business models and develop new ones.
Therefore it takes into account:
The use side of things (Key Partners, Activities and Ressources
The Customer side of things (Customer Relationships, business channels and the customer itself - who?)
The motivation of purchase: The value proposition
The financial side of things: Costs and Revenue
Describe and differentiate the terms Adoption and Diffusion
Adoption: Is the individual decision made by a customer on adopting a technology
Diffusion: Describes how a new innvoations is adopted by a certain market
Market Diffusion is the result of individual decisions of Adoptiong the diffusing innovation/ product…
Why do customers often times have a high demand for information after the adoption of a product?
A high demand for information on a product after adoption indictates a post justification to reduce cognitive dissonance.
In what groups can the different Adopters in a market be differentiated?
Why do new products/ business models have to provide significantly larger gains then losses to be adopted?
Bercause the perceived value of a loss is higher then the one of a gain:
How do the needed behavioral change and the degree of product change (gain) descirbe the projected success of a product?
What are typcial examples of long hauls (High degree of product change/ novelity and high degree in behavioral change)
Snowboard —> New customer base needs to be established
Toyota Prius —> New technology trimmed to be compatible with infrastructure
What is understood as the Chasm that a new product has to cross?
The chasm to cross for new products is the jump from Early adopters as customers to an early majority.
This is due to a change in buying behavior in the different groups from risky and forgiving to cuatious and demanding.
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