Prof.B.

Dutta Gupta IIPM,Kolkata

The anti-i Phone:

You can't access the internet. And it doesn't have a camera or games you can play. In fact, this new mobile phone doesn't even let you send text messages.
The designers of 'John's Phone' have created a device that has only one function: it lets you make calls. Hailed as the world's simplest phone, it is designed to be a tongue-in-cheek 'basic backlash' by targeting users who do not want the flashy features of next-generation models.

USB Pen Drive...

Talk about a literal USB Pen Drive...Digix has unveiled their new writing instrument that comes with 1GB of integrated memory. Pretty cool if you don't mind carrying your data everywhere you go, but do be careful against lending your pen to other people even for a while as history has shown that borrowed pens rarely make their way back to the owner. Available in silver, black, red, and pearl blue colors, the Digix USB Pen Drive lacks MP3 playback or audio recording capability of other similar products.

So what makes creative people creative? If we could look into the minds of creative geniuses, what would we see?

Joy of discovery

Curiosity

Sense of challenge Inquisitiveness

Playfulness

Questioning
Positive discontent Desire to interrelate Willingness to take risks

Wonder
Desire to see things differently Desire to learn Willingness to experiment

Tolerance of ambiguity

Familiarity Matrix: Optimum Strategies for Technological Innovation: Finding others who know more about the markets or the technology
Decreasing knowledge of the market
Venture capital, , or University Relationship

Joint Venture
Internal Development, Acquisition, or Joint Venture

Venture Capital

Internal Venture or Acquisition or License

Venture Capital

Internal Development

Internal project, or Acquisition, or License

Joint Venture, Strategic Alliance or University Relationship

Decreasing knowledge of the technology

Case study : Western India Vegetable Products Limited

Premji on innovation, creativity : The Wipro Centre of Excellence, with over 500

dedicated professionals, works on 1. lean technology to software development, new ways of delivering business, and 2.is striving towards creating intellectual properties in the wireless and mobile telephony segment Wipro bagged 29 major deals in the last quarter of 2009 : a result of innovation.

So where do big ideas come from?

Premji says that

big ideas often come from customers.

Big ideas can emerge from constant interaction

with customers and several unsaid things can be elicited and developed making way for big innovations. Meaningful dialogues with customers will go along way in delivering excellent products. Services and products companies should look at this seriously, advocates Premji.

So where do big ideas come from?

2. "We also need to have the courage to hire people

who are from different work cultures and see to it that they grow in the organisation and are not pushed out in the long run. Premji cities the Chinese example where students are encouraged to go abroad to pursue courses in liberal arts. 3. However, he warns that complacency kills creativity. Complacency should be rooted out of all levels of management.

Test Yourself
Which of the following is the most accurate

definition of a product concept?

1. 2. 3. 4. 5.

Screening of new ideas. A detailed version of the new product idea stated in meaningful consumer terms. The way consumer's perceive an actual or potential product. An idea for a product that a company can see itself offering to the market. Testing of a new product with a group of targeted consumers

Test Yourself
Which of the following is the most accurate

definition of a product concept?

1. 2. 3. 4. 5.

Screening of new ideas. A detailed version of the new product idea stated in meaningful consumer terms. The way consumer's perceive an actual or potential product. An idea for a product that a company can see itself offering to the market. Testing of a new product with a group of targeted consumers

Test Yourself
The new product development process does not

incorporate which of the following? 1. Obtaining funding from venture capitalists. 2. Idea generation. 3. Test marketing. 4. Business analysis. 5. Product development. 6. Concept development and testing

Test Yourself
The new product development process does not

incorporate which of the following? 1. Obtaining funding from venture capitalists. 2. Idea generation. 3. Test marketing. 4. Business analysis. 5. Product development. 6. Concept development and testing

Test Yourself
Firms bring to market new products through two

predominant routes of new product acquisition and new product development. New products are deemed the _________ of organisations? 1. mainstay 2. life-blood 3. foundation 4. survival

Test Yourself
Firms bring to market new products through two

predominant routes of new product acquisition and new product development. New products are deemed the _________ of organisations? 1. mainstay 2. life-blood 3. foundation 4. survival

Test Yourself
Most new-product activity is devoted to ________. a) repositioning existing products b) developing new-to-the-world products c) backward innovation d) improving existing products e) none of the above

Test Yourself
Most new-product activity is devoted to ________. a) repositioning existing products b) developing new-to-the-world products c) backward innovation d) improving existing products e) none of the above

Test Yourself
Newer companies create ________ that are cheaper and more likely to alter the competitive space. Established companies can be slow to react or invest in these technologies because they threaten their investment.
a) new products b) newer markets c) newer channels of distribution d) disruptive technologies e) none of the above

Test Yourself
Newer companies create ________ that are cheaper and more likely to alter the competitive space. Established companies can be slow to react or invest in these technologies because they threaten their investment.
a) new products b) newer markets c) newer channels of distribution d) disruptive technologies e) none of the above

Test Yourself
Why do we need product innovation? a) Shorter product life cycle b) Products go through life cycles-- you need new ones coming on stream. c) Profits highest when products are new. d) All of these e) None of these

Test Yourself
Why do we need product innovation? a) Shorter product life cycle b) Products go through life cycles-- you need new ones coming on stream. c) Profits highest when products are new. d) All of these e) None of these

Test Yourself
The new-product development process starts with the search for ________.
a) production efficiency b) products that can be improved upon c) overseas products d) ideas e) strategy

Test Yourself
The new-product development process starts with the search for ________.
a) production efficiency b) products that can be improved upon c) overseas products d) ideas e) strategy

Test Yourself
The traditional company-centric approach to product innovation is giving way to ________.
a) the increasing importance of company R&D

b)
c) d) e)

departments the co-creation of products with consumers the insights of senior executives in the go/no-go stagegate decisions a more financially strict attitude toward funding newproduct development all of the above

Test Yourself
The traditional company-centric approach to product innovation is giving way to ________.
a) the increasing importance of company R&D

b)
c) d) e)

departments the co-creation of products with consumers the insights of senior executives in the go/no-go stagegate decisions a more financially strict attitude toward funding newproduct development all of the above

Test Yourself
Surgeons and ER nurses would be considered ________ for surgical equipment.
1) 2) 3) 4) 5)

venture groups social networks buzz agents lead users all of the above

Test Yourself
Surgeons and ER nurses would be considered ________ for surgical equipment.
1) 2) 3) 4) 5)

venture groups social networks buzz agents lead users all of the above

What is a lead user?

Who is a lead user?

A specific type of user of a product or service having

two characteristics: (1) They are at the leading edge of important market trends and; (2) they have a strong incentive to find solutions for the novel needs they encounter at the leading edge. Lead users often have to develop the new products and services they need for themselves - they become userinnovators; Ref : http://userinnovation.mit.edu/

Test Yourself
Company ________ and intermediaries are a particularly good source of ideas. These groups have firsthand exposure to customers and are often the first to learn about competitive developments.
a) marketing departments b) competitors c) sales representatives

d) top management
e) customers

Test Yourself
Company ________ and intermediaries are a particularly good source of ideas. These groups have firsthand exposure to customers and are often the first to learn about competitive developments.
a) marketing departments b) competitors c) sales representatives

d) top management
e) customers

Thank You