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Winning At New Products 1111

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The document outlines a 4-step process for product innovation: 1) Define your brand, 2) Define your target customer, 3) Understand your target's current needs and behaviors, 4) Look for ways to improve your target's life. Some key strategies discussed include visiting new markets for inspiration, brainstorming with experts, looking at niche customer segments or unrelated categories for new ideas. The goal is to develop products and services that create real value for the customer.

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Four Steps to Product Innovation Patrick T. Howley The Howley Group
Four Steps 1. What is your brand? 2. Who is your target? 3. What is your targets current state? 4. How can you better the life of your target? The Howley Group, LLC
Olay: Skin Beauty Love the skin youre in The Howley Group, LLC
Starbucks The Third Place The Howley Group, LLC
Nike Improve the performance of serious athletes Football Soccer Baseball Track & Field Yoga Tennis Hockey Golf Cycling Running Cross-Training Skateboard The Howley Group, LLC
Who is your target? Current Size of User Opportunity Non- User, Category User Non-Category User The Howley Group, LLC
Current Users Increase Consumption New Occasions The Howley Group, LLC
Current Users Increase Consumption New Occasions The Howley Group, LLC
Competitors Users Colgate wanted Crest Tartar Control users!!! The Howley Group, LLC
Non-Users - McDonalds Current Users Kids Happy Meals Fast Food Adults Burgers & Fries Non-Users Health Conscious Adults The Howley Group, LLC
Non-users - McDonalds Early 2003 introduce salads Stock Price 60 40 20 0 2003 2009 Lose money on salads!!! The Howley Group, LLC
Line Extensions that didnt work The Howley Group, LLC
Line Extensions that didnt work The Howley Group, LLC
Line Extensions that didnt work The Howley Group, LLC
3. What is your targets current state? Walk in their shoes. Question the paradigms. The Howley Group, LLC
Walk in their shoes 3M Masking tape was invented when a 3M lab technician (Charles Drew) observed an auto-body shop worker struggling. The Howley Group, LLC
Walk in their shoes - Intuit Intuit noticed that small business were using their personal financial software for their business. QuickBooks has 85% of the market. The Howley Group, LLC
Walk In Their Shoes Dutch Boy Dutch Boy Twist and Pour increased paint sales by 35%. The Howley Group, LLC
Question the Paradigm Oral Care Customer Cosmetic Therapeutic --------------------------------------------- Whitening Cavity Protection Breath Freshening Tartar Control The Howley Group, LLC
Question the Paradigm Oral Care Customer Less Involved More Involved --------------------------------------------- Less-----------------------------------------------------------------More Whitening Less---------------------------------------------------------More Breath Freshening Less----------------------------------------------------------More Cavity Protection Less-------------------------------------------------------------More Tartar Control The Howley Group, LLC
4. How can you better the life of your target? People dont want to buy a quarter- inch drill. They want a quarter inch hole. Theodore Levitt The Howley Group, LLC
Generating Ideas 1. Visit New Markets 2. Brainstorming with Experts 3. Look Around at Niche Segments or Other Categories The Howley Group, LLC
Visit New Markets - Listerine Listerine Oral Care Strips in Asia 10 years before introduced into the US The Howley Group, LLC
Visit New Markets - Starbucks Starbucks started in 1971. The third place idea based on a trip to Milan in 1983. The Howley Group, LLC
Visit New Markets Procter & Gamble Product found in Japanese convenience store in Jan. 2001. Introduced in US in 2003. Attitude change from Not-Invented-Here to Proudly-Found-Elsewhere. The Howley Group, LLC
Brainstorming with Experts Dont ask the average consumer to tell you what they want in the future. If I had asked my customers what they wanted, they would have said a faster horse Henry Ford The Howley Group, LLC
Look Around Godiva looks to dessert categories to gain inspiration for pie-flavored chocolates: Apple Crumb Strawberry Key Lime Lemon Meringue Banana Cream Chocolate Cream Pecan The Howley Group, LLC
Look Around In 2000, a Disney executive went to check out a Disney on Ice show and found himself surrounded by little girls in princess costumes. Princess costumes that were horrors!- homemade. Princess Products 2009 sales: $4 billion. The Howley Group, LLC
Look Around Products using cocktail hour as inspiration: Avon Sheer Sangria nail polish Malin + Goetz rum and mojito candles Victoria Secret Appletini Beauty Rush Lip Gloss Demeter White Russian perfume The Howley Group, LLC
Niche Segments Gluten Free 1999 1 in 10,000 in the US had celiac disease. (medical textbook) Gluten-free products $6.3 Billion (Spins) and up 33% since 2009 (Nielsen). The Howley Group, LLC
Niche Segments Soyfoods The Howley Group, LLC
Niche Segments Gluten Free 1999 1 in 10,000 in the US had celiac disease. (medical textbook) Gluten-free products $6.3 Billion (Spins) and up 33% since 2009 (Nielsen). The Howley Group, LLC
Four Steps to Product Innovation 1. Define your brand. 2. Define your target. 3. Know your targets current state. 4. Look to better the life of your target. The Howley Group, LLC

More Related Content

Winning At New Products 1111

  • 1. Four Steps to Product Innovation Patrick T. Howley The Howley Group
  • 2. Four Steps 1. What is your brand? 2. Who is your target? 3. What is your targets current state? 4. How can you better the life of your target? The Howley Group, LLC
  • 3. Olay: Skin Beauty Love the skin youre in The Howley Group, LLC
  • 4. Starbucks The Third Place The Howley Group, LLC
  • 5. Nike Improve the performance of serious athletes Football Soccer Baseball Track & Field Yoga Tennis Hockey Golf Cycling Running Cross-Training Skateboard The Howley Group, LLC
  • 6. Who is your target? Current Size of User Opportunity Non- User, Category User Non-Category User The Howley Group, LLC
  • 7. Current Users Increase Consumption New Occasions The Howley Group, LLC
  • 8. Current Users Increase Consumption New Occasions The Howley Group, LLC
  • 9. Competitors Users Colgate wanted Crest Tartar Control users!!! The Howley Group, LLC
  • 10. Non-Users - McDonalds Current Users Kids Happy Meals Fast Food Adults Burgers & Fries Non-Users Health Conscious Adults The Howley Group, LLC
  • 11. Non-users - McDonalds Early 2003 introduce salads Stock Price 60 40 20 0 2003 2009 Lose money on salads!!! The Howley Group, LLC
  • 12. Line Extensions that didnt work The Howley Group, LLC
  • 13. Line Extensions that didnt work The Howley Group, LLC
  • 14. Line Extensions that didnt work The Howley Group, LLC
  • 15. 3. What is your targets current state? Walk in their shoes. Question the paradigms. The Howley Group, LLC
  • 16. Walk in their shoes 3M Masking tape was invented when a 3M lab technician (Charles Drew) observed an auto-body shop worker struggling. The Howley Group, LLC
  • 17. Walk in their shoes - Intuit Intuit noticed that small business were using their personal financial software for their business. QuickBooks has 85% of the market. The Howley Group, LLC
  • 18. Walk In Their Shoes Dutch Boy Dutch Boy Twist and Pour increased paint sales by 35%. The Howley Group, LLC
  • 19. Question the Paradigm Oral Care Customer Cosmetic Therapeutic --------------------------------------------- Whitening Cavity Protection Breath Freshening Tartar Control The Howley Group, LLC
  • 20. Question the Paradigm Oral Care Customer Less Involved More Involved --------------------------------------------- Less-----------------------------------------------------------------More Whitening Less---------------------------------------------------------More Breath Freshening Less----------------------------------------------------------More Cavity Protection Less-------------------------------------------------------------More Tartar Control The Howley Group, LLC
  • 21. 4. How can you better the life of your target? People dont want to buy a quarter- inch drill. They want a quarter inch hole. Theodore Levitt The Howley Group, LLC
  • 22. Generating Ideas 1. Visit New Markets 2. Brainstorming with Experts 3. Look Around at Niche Segments or Other Categories The Howley Group, LLC
  • 23. Visit New Markets - Listerine Listerine Oral Care Strips in Asia 10 years before introduced into the US The Howley Group, LLC
  • 24. Visit New Markets - Starbucks Starbucks started in 1971. The third place idea based on a trip to Milan in 1983. The Howley Group, LLC
  • 25. Visit New Markets Procter & Gamble Product found in Japanese convenience store in Jan. 2001. Introduced in US in 2003. Attitude change from Not-Invented-Here to Proudly-Found-Elsewhere. The Howley Group, LLC
  • 26. Brainstorming with Experts Dont ask the average consumer to tell you what they want in the future. If I had asked my customers what they wanted, they would have said a faster horse Henry Ford The Howley Group, LLC
  • 27. Look Around Godiva looks to dessert categories to gain inspiration for pie-flavored chocolates: Apple Crumb Strawberry Key Lime Lemon Meringue Banana Cream Chocolate Cream Pecan The Howley Group, LLC
  • 28. Look Around In 2000, a Disney executive went to check out a Disney on Ice show and found himself surrounded by little girls in princess costumes. Princess costumes that were horrors!- homemade. Princess Products 2009 sales: $4 billion. The Howley Group, LLC
  • 29. Look Around Products using cocktail hour as inspiration: Avon Sheer Sangria nail polish Malin + Goetz rum and mojito candles Victoria Secret Appletini Beauty Rush Lip Gloss Demeter White Russian perfume The Howley Group, LLC
  • 30. Niche Segments Gluten Free 1999 1 in 10,000 in the US had celiac disease. (medical textbook) Gluten-free products $6.3 Billion (Spins) and up 33% since 2009 (Nielsen). The Howley Group, LLC
  • 31. Niche Segments Soyfoods The Howley Group, LLC
  • 32. Niche Segments Gluten Free 1999 1 in 10,000 in the US had celiac disease. (medical textbook) Gluten-free products $6.3 Billion (Spins) and up 33% since 2009 (Nielsen). The Howley Group, LLC
  • 33. Four Steps to Product Innovation 1. Define your brand. 2. Define your target. 3. Know your targets current state. 4. Look to better the life of your target. The Howley Group, LLC