Ten Different Types of Innovation (cont.) 5

B. Offering (focus on an enterprise's product(s) and service(s) - 1st of 2 types)

5. Product Performance (developing distinguishing features, like value, quality, uniqueness, etc and functionality like consumer-friendly, flexibility, etc)

Using the following tactics:

- performance simplification (making it easier to use the product or service, ie user-friendly; omit superfluous details, features, interactions, etc to reduce complexity)

- customisation (tailor a product or service to an individual's specifications or requirements)

- added functionality (add new usable capabilities to an existing offering)

- conservation (design your product so that end users can reduce their use of resources like energy, material, etc)

- ease-of-use (make your product simple, intuitive, convenient to use)

- engaged functionality (exceed customers' expectations on a feature)

- environmental sensitivity (create offerings that do no harm, or relatively less harm, to the environment)

- future aggregation (by combining a number of existing features from disparate sources into a single offering)

- focus (design a product or service for a particular audience)

- safety (increase the customer's level of confidence and security)

- styling (impart a noteworthy style, fashion, image, etc to create a product that customers covet)

- superior product (develop an offering of exceptional design, quality, and/or experience, etc), etc

NB The above tactics can be used individually or in combination.

Indicators of success are when the organisation's services and products

- dominate the market and/or earn a substantial premium

- possess unique features and functionality that captivates customers

- are notably simpler and easier to use than others in the marketplace

- are uniquely styled to focus on a particular niche and audiences in ways that others cannot match

Some examples include

- Dyson

("...The Dual Cyclone technology featured in Dyson's first vacuum took 15 years - and over 5,000 prototypes - to launch. It included an innovative transparent, bag-design that show people exactly how much dirt was being sucked up from the floor. Within 22 months, it had become the bestselling vacuum in the UK..."

Larry Keeley et al, 2013)

- Mars (personalised its product, M&Ms, ie customers are allowed to add their own messages, logos or images to specific coloured M&Ms)

- Corning (developed a tough, thin and scratch-resistant form of glass used in smart phones, tablets, PCs and TVs.

"...In 2012, it was used by 33 major brands in over 1 billion devices worldwide..."

Larry Keeley et al, 2013)

 

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