Pixie Dust & Product Development - Invented in Utah Competition

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Information about Pixie Dust & Product Development - Invented in Utah Competition
Design

Published on February 14, 2009

Author: sproutmarketing

Source: slideshare.net

Description

As part of Sprout’s sponsorship of this year’s Invented in Utah Competition, I had the opportunity of facilitating a seminar on the product development process for inventors, entrepreneurs and investors. The presentation was entitled “Pixie Dust & Product Development.” It differentiates between invention and innovation and highlights principles of design thinking and innovation and how they’ve successfully been applied to the discovery of unmet market needs and the design and development of products, services, environments, and experiences that create new market opportunities.

Anyone can use these principles to who they want to serve and how best to do that, but few entrepreneurs do. They often assume that because they feel the pain of a perceived problem they’ve identified, others will, too. We would argue that it’s better to spend a few dollars upstream to understand these needs through the hearts and minds of the people who you hope represent potential buyers before diving right in to design and development.

The better you understand your customer early on, including end users, recommenders and decision makers, the greater your chances of success will be. It’s better to go through as many iterative cycles of refinement as you can at the rough prototype stage before trying to scale your idea because iterations become much more expensive when your company is aloft. Tuning your sense of empathy can dramatically increase your chances of success by helping you see the world from other peoples’ perspectives. It stems from a sincere desire to connect with people and improve their quality of life. Empathy can inform the soul of a brand by infusing it with inherent meaning from the beginning.

Pixie Dust and Product Development How to Make Your Idea Fly Jed Morley, VP of Marketing for Hire at Sprout Marketing 02/14/09

Invention v. Innovation. -- Dev Patnaik, Jump Associates

 

Purpose: Share principles of innovation to increase the chances of entrepreneurial success. 1. Understand the perceived constraints. 2. Observe real people in real-life situations. 3. Visualize new-to-the-world concepts and the customers who will use them. 4. Evaluate and refine the prototypes in a series of quick iterations. 5. Commercialize the new concept.

 

 

The Marketing Spectrum Focused on Ideation and Validation today

1. Understand: the market, the client, the technology, and the perceived constraints on the problem .

 

 

 

 

“ One man’s trash is another man’s stylish, contemporary coffee table.” -- www.cardboarddesign.com

2. Observe real people in real-life situations. At point(s) of sale. At point(s) of use.

 

 

 

 

Sympathy: Feel for them. Empathy: Feel with them.

 

How much does it hurt? Emoticons v. hopping on one foot.

 

“ People don’t care about banks, but they care a whole lot about money and its role in their lives.” -- Juicing the Orange , p. 26

“ Save automatically with every Check Card purchase you make. Saving is a whole lot simpler when you don’t have to think about it. That’s the idea behind Keep the Change. When you enroll, each time you buy something with your Bank of America Check Card, we’ll round up your purchase to the nearest dollar amount and transfer the difference from your checking account to your savings account. You get to keep the change – so every cup of coffee, tank of gas, or bag of groceries adds up to more savings for you. What could be easier? We’ll even match your savings We’ll match your Keep the Change savings for the first 3 months, to the penny. After that, we’ll continue matching 5% a year. The maximum total match is $250 per year. .” www.bankofamerica.com Keep the Change® from Bank of America

“ I went running with the high school cross country team.” — Dave Schenone, Nike Innovation Director

Why? x 5.

“ I want to be able to kick it down to my family members, like my Mom’s Singer machine.” “ It always looks professional.” “ This was my chocolate.” “ I have blouses in drawers with no sleeves because it was too hard.”

 

 

 

“ Ask your doctor about the little purple pill.” Recommenders. Decision makers.

Personas, not demographics.

Nu Skin ® for Men: Same Routine, More Benefits ™ Three multi-functional products deliver extra skin care benefits without extra hassle. Dividends ™ Shave Cream Dividends ™ Aftershave Balm Dividends ™ Antiperspirant Deodorant

Three multi-functional products deliver extra skin care benefits without extra hassle.

Dividends ™ Shave Cream

Dividends ™ Aftershave Balm

Dividends ™ Antiperspirant Deodorant

 

 

 

 

 

 

 

 

 

 

 

Yudu Personal Screen Printer.

 

 

 

 

 

 

 

 

Multidisciplinary teams.

Ideate. Defer judgment. Encourage wild ideas. Build on the ideas of others. One conversation at a time. Stay focused on the topic. Go for quantity. Be visual: sketch.

“ Enlightened trial and error succeeds over the planning of the lone genius.” — IDEO

Know when to diverge and converge. Headers and heelers.

3. Visualize new-to-the-world concepts and the customers who will use them.

Sell the Story.

 

Nu Skin® ProDerm™ Skin Analyzer

 

 

 

4. Evaluate and Refine

 

 

 

 

ORS Lifeport Kidney Transporter

ORS Lifeport Kidney Transporter

ORS Lifeport Kidney Transporter

Lifeport Kidney Transporter

Lifeport Kidney Transporter

ORS Lifeport Kidney Transporter

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Design Thinking Applied to Environments. Michael Fazio: www.archideas.com

Let’s Fly.

http://www.slideshare.net/sproutmarketing http://sproutmarketing.com/blogs

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