What Customers Want: Using Outcome-Driven Innovation to Create Breakthrough Products and Services: Using Outcome-Driven Innovation to Create Breakthrough ... (MarketingSalesAdvertising & Promotion) by Anthony Ulwick

Author:Anthony Ulwick [Ulwick, Anthony]
Language: eng
Format: mobi, epub
Publisher: McGraw-Hill Education
Published: 2005-09-05T16:00:00+00:00

The first four steps in the outcome-driven innovation process are aimed at uncovering all of the opportunities that exist in a market, whether they are broad-market opportunities or unique segments of opportunity. If a company does not know with certainty where the market is underserved and overserved, it is more likely to make the wrong investments in new product and service development. It is also more likely to hesitate to take any action at all because it lacks the confidence needed to move forward with con­viction. But once a company knows all the opportunities that exist in a market, it can devise a very effective targeting strategy; one that will ultimately place it in a unique and valued competitive position—a position that addresses the underserved outcomes in a market while reducing costs in those areas that are overserved. This is the fifth step in the outcome-driven innovation process. This chapter describes how companies can target the best opportunities for growth and achieve a competitive position that is both unique and valued. It is with these skills that a company translates research into a strategy for successful innovation.

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