Ideation – New Products and Services
Ideation is about your ability to create a leading edge products and services
roadmap for your company. The rate of change of technology and consumer preferences is orders of magnitude faster than a company’s ability to adapt. Disruption typically comes from outside an industry, so for a high level of Market Effectiveness
, the Ideation Process is quickly becoming as important as strategic planning. The revenue lifecycle of any product is dependent on the level of innovation in your product and services roadmap because change is inevitable while innovation is not. Just selling products without services is a path to irrelevance.
Your ability to differentiate your product portfolio(s) in the market place are dependent on innovations in both products and services. The most effective way to deal with disruptive technologies and disruptive business models is to be aware of them and to be ahead of them. At Group50, we work with our clients to develop a network of innovators, leading thinkers, industry experts, customers and suppliers that are capable of helping your team with the creative side of the product and service development process
. This network becomes the basis for developing and executing a robust Product Lifecycle Revenue model.
Putting a few experts in a room isn’t sufficient for developing and maintaining an innovative product and services roadmap. It requires discipline and process. Group50’s Ideation Process follows these steps:
- Define and clearly state the “problem to solve, the solution to find or the issue to resolve” in your served markets
- Gather the baseline data that will allow the session to move forward in a realistic manner
- We utilize a series of tools (Guided Thinking, Brainstorming, “6 Hat Thinking”, “It Won’t Work exercises, etc.) to create a list of potential ideas
- Converge/narrow the list to the potential best ideas while not discarding other ideas
- Apply data, benchmarking/best in class ideas and knowledge of where your company is to create an action plan to move forward
- Get feedback from the marketplace
- Develop a series of measures and metrics to track your progress
- Reiterate the process frequently
Going it alone in today’s environment is a recipe for being caught off guard in your marketplace. The hardest thing to do in an organization is to challenge existing assumptions and until you do that, innovation is out of your grasp. Group50’s New Products and Services Ideation workshop provides the first steps in setting up a sustainable and scalable process.
You can reach a Group50 Products and Services Ideation expert at (909) 949-9083, drop us a line at firstname.lastname@example.org or request more information here.