|
Services - New Product, Service
and Category Innovation
When it comes to breakthroughs, even the most
innovative companies face significant challenges. From wrestling
with the "fuzzy front end" of the innovation process, to identifying
and prioritizing opportunities, to moving concepts through the
pipeline, there's no magic formula for success.
Most companies recognize that new products and
services are the lifeblood of the future - and that it is imperative
to maintain an abundant pipeline of product and service concepts
that range from line extensions to breakthroughs. The challenge is a
formidable one: extend existing products to maximize their
contribution throughout their lifecycle while concurrently
introducing compelling new offerings that may potentially
cannibalize the existing portfolio or create new categories of
growth.
Regardless of the industry, organizations often
face common challenges related to driving new product, service and
category innovation, including:
- Identifying promising opportunity areas;
- Moving beyond massive amounts of consumer data
to gain meaningful insights;
- Translating insights into breakthrough
business concepts;
- Prioritizing and selecting the most promising
opportunities;
- Championing and defending fragile ideas
through the innovation process;
- Building the organizational alignment required
for successful execution.
|
Questions that keep you awake at night:
|
|
- How can we gain confidence around which
opportunity areas to pursue?
- How can we get bigger and better ideas
into our pipeline?
- We have great technology but how do we
successfully "productize" it?
- How can gain deeper insights into
emerging consumer and customer needs, and then integrate
these insights into the product innovation process?
- How can we develop and
institutionalize a process to continually innovate new
products, services, and even business models?
|
InnovationPoint's approach to new product, service and category innovation
takes the visionary high ground, seeking to conceptualize, develop,
test and introduce breakthrough opportunities that inspire
consumers/customers and, in some cases, spur Discontinuous Innovation.
Our approach involves:
"Industry
Foresight" - A deep understanding of
the drivers, trends, dislocations, opportunities and enablers of an
industry to establish a participation strategy that creates a
leadership position in the marketplace. Learn more about Industry Foresight
"Customer Insight" - A
non-traditional approach to consumer/customer research that seeks
understanding at a level well beyond what is articulated, and then
interprets these inputs and translates them into truly inspired
opportunities.
Learn more about Customer Insight
"Strategic Alignment" -
An approach for engaging both the leadership team and the broader
organization around a shared path for growth. This alignment enables
buy-in, accelerates decision-making and ensures rapid
implementation.
Learn more about Strategic Alignment
By tapping into the power of foresight and
insight, we help you step back, understand the broad opportunity
space, so we can innovate from a new vantage point. Unlike many
consulting firms that jump hastily to "concept-level ideation", we
then work with you to define your most promising "growth platforms".
Inspired by consumer insights and emerging trends, these growth
platforms represent powerful ideation "springboards" that lead to
the creation of multiple, product, service and solution concepts.
Our proprietary approach to new product, service
and category innovation delivers a portfolio of offerings from
incremental to breakthrough, and from short- to long-term. By aiming
high - and by seeking to identify longer-term growth platforms and
related concepts - it becomes possible to innovate strategically.
Even when our focus is new products or services, we also help
articulate the overarching strategic requirements for their ultimate
success.
Back to
Services |
|
