Characteris;cs: -Insights are not apparent immediately-Omen found in observed anomalies-Omen discovered accidently, simply by paying afen'on-Omen comes from unusual sources.-Needs to be useful, not just interes'ng-Cannot be a number, quote or fact from a customer-Your compe'tors may not see themCustomers cannot tell uswhat products to develop, nor can they provide reliable informa'on about someone they have NOT experienced or are not familiar with. Customers can tell usabout something they have experienced or are familiar with. The subset of their needs that is relevant to them, their individual problems and needs, the products they currentlyuse to meet their needs and where they fall short or excel. Sources that can generate customer Ideas and Insights-Focus groups- Lead user analysis
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-Interviews of stakeholders - Workshops-Surveys - Ethnographic study-Demographical studies - External ideas-Partners and vendors - Communi'es-Customer visit teams/site visits - Customer brainstormingEthnography is a descrip've, qualita've market research methodology for studying the customer in rela'on to their environment. Researchers spend 'me in the Yeld observing customers and their environment to acquire a deep understanding of their lifestyle or culture as a basis of understanding their needs and problems. Involves the study and descrip'on of human cultures, socie'es and interac'ons. Can be done by listening, observing, making notes, audio recording, sketching, photography, videotaping, digital technology, asking ques'ons, joining in with the lifestyle, interac'on.Netnography:Tracking customer tweets, likes, blogs and complaints to provide analy'cs on their needs and desires. Firms can access and analyse consumer’s problems, usage and develop new products based on this. Through social media, forums and blogs. WEEK 5: IDEATION & CONCEPT FORMATIONNew Product Conceptscan be generated by iden'fying certain afributes that make up a product:-BeneDt/Need:BeneYt to the customer for which they see a need or desire-Form:The physical thing created, or for a service, the set of steps which the service will be created-Technology:The source by which the form is to be afained, allowing us to develop a form providing beneYtPIC STATEMENT (Product Innova;on Chartering)The PIC statement is a document prepared by senior management designed to provide guidance to the strategic business units on the role of innova'on. It sets the NPD goals and objec'ves, explains why the team exists, charts the teams direc'on, what technologies will be used in what markets, tells the team how the game will be played. It gives the team rules and restric'ons/constraints within the NPD process as well as any other informa'on they must consider. E.G. PIC STATEMENT
MARKET? In designing the prsduct, Speeds will be fscusing sn the Health & Fitness sectsr sf the marketCONSTMER TARGET?Speeds will fscus sn csnsumers whs exercise regularly and whs want a healthy and balanced lifestyle.
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Marketing, new product development, Strategic business unit, Nico Li
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