Case Studies

Innovation

Innovation is turning an idea into a solution that adds value from a CUSTOMER 's perspective.

Viewed in this way, Innovation can take many forms & either be big or through small steps with a clear focused goal,cumulatively market changing.

Types

-  Product: this could be formulation, a change in packaging size, a  new use for the product

-  Own Invention: 

-  Adapted  Technology: applying technology that already exists such as APs

-  Disruptive: creating a new value re-thought proposition (think Uber)

-  Marketing: getting the product or service to market in a new non traditional way

 

Sources

It is unlikely that meaningful concepts will be generated by a formulated New Product Development Committee .

To be successful Innovation has to be customer facing & so is most likely to come from the marketplace or interpretation of sales data trends.

Interaction with customers & prospects is key & the ability to LISTEN paramount.

This therefore means reliance on Owner interaction with customers & prospects or the Sales Force (if such luxuries still exist) but that Cinderella 

function called the Sales Office should not be forgotten - it is in daily contact with the marketplace & with the right personnel could be a mine of

useful information.

BUT just remember quite often customers do NOT know what they want - they certainly did not articulate the need for the iPhone.

That is when the clever bit of intepretation of trends comes in.

 

Innovation Case Study 1 - Domino's Pizza Group

We have all heard of technology "Unicorns" who have applied technology to disrupt an industry with Uber & Spotify readily springing to mind.

We also widely appreciate how the advent of PCs, the Mobile Phone, 3D Printers, & the Web helped level the business playing field between obese corporates & SMEs.

Less well covered is how even the most mundane business can seize & retain competitive advantage thorugh the adoption of relevant technology advances.

Step forward Domino's Pizza Group: whilst a large PLC, its approach  to exploiting available technology  can be readily adopted by SMEs.

-  Around 80% of its orders are now made online, versus 30% 6 years ago

-  Two thirds of orders are now made on a smartphone or tablet, with its app now allowing for one click ordering & finely tuned payment options, to allow          credit card data to be saved

-  To maintain this "arms race" in technology & stay ahead of the compettion, Domino's invested heavily in technology- up 150% in 2 years

-  This extends to its Head Office staff where out of 230, no less than 85 are software engineers & technologists

-  BUT in focusing on the ultimate (eating) customer, Domino's forgot about its franchisees & sharing the increased profitabiltiy, which has soured                     relationships     

 

hell o hoq are u

 

 

 

 

 

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