Professor Lydia J Price
Innovation & New Product Development
Kwaku Atuahene-Gima-若有代写英国作业需求请联系我们
Professor of Marketing & Innovation Management
Director Center for Marketing & Innovation
Chair, Department of Marketing
China Europe International Business School (CEIBS), Shanghai
Professor Lydia J Price
Can you envisage a situation in which your company may not exist in 20 years time?
Professor Lydia J Price
Theory of Evolution
It is not the strongest species that survives, nor the most intelligent, but the most responsive to change.
Charles Darwin
Theory of Business Revolution
It is not the strongest companies that survives, nor companies run by the most intelligent managers, but the most proactive to tomorrow’s conditions
KwakuAtuahene-Gima
Why?
Professor Lydia J Price
“There is only one valid definition of business purpose: to create a satisfiedcustomer …It is
the customer who determines what the business
is …Because it is its purpose to create a satisfied
customer, any business enterprise has two –and
only these two –basic functions: marketing and
innovation”
Professor Lydia J Price
“We define innovation broadly. Customers increasingly think in terms of total brand experiences, not just functional product benefits. To meettheir expectations –to deliver delightful experiences –we draw on innovation from every available source: concept innovation, design innovation, communication innovation, go-to-market innovation, supply chain innovation…and cost innovation”
Alan Lafley, Chairman & CEO P&G
Professor Lydia J Price
Lessons:
“A product offering is not a whole product”
“Product advantage does not mean competitive advantage”
Kwaku Atuahene-GimaProfessor Lydia J Price
Some common mistakes in the process of developing innovation
•Confusing product/service features with value
•Non-existent or unimportant customer problem
•Confusing innovative technology with customer value
•Confusing yourself & experts with the customer
•Confusing the building the right product with building product right
•Development process –a tunnel rather than a funnel
©Kwaku Atuahene-Gima
Professor Lydia J Price
SProfessor Lydia J Price
Products and Services are Instruments for the Customer to Perform a Job to Achieve an Outcome
“The customer does not want a quarter inch drill; the customer wants a quarter inch hole”
Theodore LeavittProfessor Lydia J Price
What is Customer Value?
A benefit or solution that removes the frustrations, difficulties, challenges or impossibilities from a customer’s life to achieve a defined goal or outcome at an affordable cost.