INNOVATION AND IDEA GENERATION

GROUP 1
ALEJANDRO, KIZIAH CORTEZANO, MIKO VICTOR
ARGARIN, JOSHUA DANIEL, DIVINE
BARCELON, DENISE ANN DEDICATORIA MICAH
BOLOCON, JOSHUA DIWATA, BRYAN
CAMANO, IVAN RENZ

TABLE OF CONTENTS
 What is Innovation?  Idea Selection
 Types of Innovation  Customer Needs
 The Principles of Innovation  Market Research and Validation
 Idea Presentations  The Decision Marketing Process

Learning Objectives:
At the end of this lesson, the students are expected to…
• Explain the definition of Innovation.
• Identify the types of innovation, and;
• Distinguish the principles of innovation.

WHAT IS INNOVATION?
 If we hear the word “INNOVATION” we usually come up with different definitions and
points of view.
 Innovation involves developing, creating new concepts and new ideas.
 Innovation involves developing, creating new concepts and new ideas.

BARACK OBAMA quoted in Business week’s “IN” that Innovation is the creation of something
that improves the way we live our lives.
TYPES OF INNOVATION
There are numerous types of innovation, but let us breakdown it into dimensions, technology and
Market that come up with four (4) types of innovation.

 Sustaining Innovation
Sustaining Innovation also known as routine innovation happens on as incremental basis, is
often a response to customer and market demands or improvements in technology. Most
companies that used sustaining innovation has been successful in building their businesses and
continue improving their offering to their customers and they have awareness of the market
needs. Examples of this companies are Apple, Intel and Amazon

 Disruptive Innovation
Disruptive Innovation, most companies did not pay too much attention on the smaller business
because they are most likely focus on how they will improve their product and services.
Clayton Christensen popularized the idea of disruptive innovation in the book “The Innovator’s
Dilemma” published in 1997. Christensen posited that there were two types of technologies that
businesses dealt with. A classic example of the disruptive innovation is the boost of cellular
phones or mobile phones that competed with the fixed line telephony. When the mobile phone hit
the market, people decided to buy it for their own purpose because it is more convenient to use
anywhere.

 Breakthrough Innovation
Breakthrough Innovation according to idea scale is defines as an innovation from inside a
company that pushes something to the next level. In this century, the innovation of products in
one time over the other because of competition and the demand in the market which is very fast.
One great example of a breakthrough innovation is the Apple iPhone, that generated various
units of mobile phones. It all started on January 29, 2007 when they first released the iPhone.
 Basic Search
This type of innovation begins with the discovery of some new phenomenon. Basic Research is a
key-driver to innovation as it provides information about a certain problem and derive with
possible solutions. Basic Research is often described as research without any clear goals, or
science to satisfy the curiosity of a lone scientist without anyone else even realizing that it exists.
In relation to the definitions of Basic Research, we can say that it is a process of conducting a
study about a specific problem and finding out solutions that will benefit companies and
industries in line with innovation.
THE PRINCIPLES OF INNOVATION
As an inventor, you have to be knowledgeable about the principles for a sustainable innovation.
According to the principles in the classic book “Robert’s Rule of Innovation: A 10 steps Program
for corporate Survival”, by Robert F. Brands.

Different principles that could help startup investors

1. Inspire. In innovation, there should be a leader who can inspire others.
2. No risk, no innovation. Most technopreneurs are risk taker because they are innovating
new products or service which they have no assurance if it will survive in the market.
3. New product process. Innovation starts with a vision; an innovator should understand
what they intend to develop for benefit off their consumers and undergo with a structured
process which includes idea generation, evaluation, prototyping, customer feedback and
success metrics.
4. Ownership. The business leader has all the ownership on the new products and
innovation in such a way that he/she generates the ideas and develop the appropriate
business models.
5. Value Creation. Once there’s an innovation, those new products should have a value and
will be served as a solution to real customer problems.
6. Accountability. It is a standard that the team members and leaders have the full
responsibility and obligation in the innovations. They have the commitment to
manufacture quality products and service and distribution.
7. Training and Coaching. Proper hiring and staffing of the people in the organization is a
must to make sure that they are cautious of their responsibility and right mindset to
perceive the future innovations.
8. Idea Management. In building products and rendering quality services, the organization
should value the presence of the customers and sales members in order to have a
brainstorming of what will be the best for the company.
9. Observe the Measure. It is a need to tract the results if it is already an idea ROI (Return
on Investment). That is how the company will measure their profitability whenever they
released new products.
10. Net Result and Reward. If the company achieve their ROU, incentives for their
employees is one way motivation.
IDEA PRESENTATIONS
Presentation is a big challenge to everyone because we never know if the audience will listen to
you and if they are interested about your topic.

Ten (10) Incredible Presentation Ideas that will inspire your audience authored by Annie Pilon to
Small Business Trends.

 STORYTELLING PRESENTION
If you are presenting, make sure that it is not only about the facts of your product or services but
rather you can tell a story where they will be interested to listen and focus too.
 MUSICAL PRESENTATION
It will be more inspired to try to set some captivating tune that will help your presentation to
stand out.
 VIDEO PRESENTATION
It is desirable to make presentations that will have both visuals and audio content to make it as a
video.
 PHOTO-ONLY PRESENTATION
If you will use photo-only presentation this is to make your audience or clients prone from
reading slides word by word.
 IMMERSIVE PRESENTATION
Most conferences, seminars and start-ups usually the immersive presentation where they
encourage their audience to get involve on discussions, games and open forum.
 QUESTION PRESENTATION
It is preferably advisable to ask questions to your audience in order for you to know if they are
interested.
 DEMONSTRATIVE PRESENTATION
If you are selling a specific product, the demonstrative presentation is the best wat to promote.
 HUMOROUS PRESENTATION
A speaker with a great humor will make the presentation livelier because the audience will
become active in the discussion.
  ANIMATED PRESENTATION
The animated presentation is a one way to demonstrating the product instead of using a video.
 PROPS PRESENTATION
This is not a techy presentation that you need computers because you will use visual aids to
make a creative presentation

IDEA SELECTION
An innovative leader will encounter challenges in selecting the best idea among of different
innovation process.

STEP 1 – ROUGH SELECTION

For this purpose, an “ABC analysis” can be used, where idea are divided into three classes;
● A – ideas, those that are absolutely necessary for further processing.
● B – ideas are those where you disagree about good or bad and re uncertain
● C idea that have no value and are to be rejected.
The A-ideas are definitely going into the next round, B-ideas are discussed and it is decided
together per idea whether the idea will be adopted. C idea are no longer considered.
STEP 2 – FINE SELECTION
If there are less than ten ideas, the “rating” method can be used.
Each participant gives each idea between 0 and 5 points. The points are also added up and you
get a ranking and a priority.

STEP 3 – DETAILED ANALYSIS

In the detailed analysis, ideas are qualitatively analyzed and evaluate on the basic of criteria. For
product ideas, for example, these are
● Customer benefit
● Differentiation potential and competitive factor
● Technical and economic feasibility.
CUSTOMERS NEEDS
The types of product needs can be split into two categories:
PRODUCT NEEDS
1. Functionality
- Customers need your product or service to function the way they need in order to
solve their problem or desire.
2. Price
- Customers have unique budgets with which they can purchase a product or service.
3.Convenience
-Your product or service needs to be convenient solution to the function your customers
are trying to meet.
4. Experience
The experience using your product or service needs to be easy or at least clear so as not
to create more work for your customers.
5. Design
- Along the lines of experience, the product or service needs a slick design to make
it relatively easy and intuitive to use.
6. Reliability
- The product or service needs to reliably function as advertised every time the
customer wants to use it.
7. Performance
- The product or service needs to perform correctly so the customer can achieve their
goaals.
8. Efficiency
- The product or service needs to be efficient for the customer by streamlining an
otherwise time-consuming process.
9. Compatibility
- The product or service needs to be compatible with other products your customer is
already using.
SERVICE NEEDS
10. Empathy
- When your customers get in touch with customer service, they want empathy and
understanding from the people assisting them.
11. Fairness
- From pricing to term of service to contract length, customers expect fairness from a
company.
12. Transparency
- Customers expect transparency from a company they’re doing business with.
13. Control
-Customers need to feel like they’re in control of the business interaction from the start to
finish and beyond, and customer empowerment shouldn’t end with the sale.
14. Options
- Customers needs options whey they’re getting ready to make a purchase from a
company. Offer a variety of product, subscription, and payment options to provide that freedom
of choice.
15. Information
- Customers need information, from the moment they start interacting with your brand to
days and months after making a purchase.
16. Accessibility
-Customers need to be able to access your service and support team.

HOW TO IDENTIFY CUSTOMER NEEDS

1. Use Existing Date.
2. Solicit Customer Feedback.
3. Customer Journey Mapping
4. Input from Service Team
5. Study competitors
6. Social Media Listening
 7. Keyword Research
MARKETS RESEARCH AND VALIDATION
 MARKET REASEARCH
Market research is an organized effort to gather information about target markets and customers:
know about them, starting with who they are. It is an important component of business strategy
and a major factor in maintaining competitiveness. Market research helps to identify and analyze
the needs of the market, the market size and the competition. Its techniques encompass both
qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as
quantitative techniques such as customer surveys, and analysis of secondary data.
 VALIDATION
Validation in market research is a built-in quality control measure and safeguard created for
online and mobile surveys. Validation is when a follow-up wave of research is conducted to
ensure answers from Wave 1 match those of Wave 2. A simple example of this is focus group
confirmation calls.

THE DECISIONMAKING PROCESS

Decision making is an enormous task because the success of the business relies on its process to
come up with a great solution.
 PROBLEM OR NEED RECOGNITION
As an innovative leader you must identify the different problems or need recognition of the
consumer. The needs of the consumers are the basis or foundation of creating or producing a new
product or services in the market.
 INFORMATION SEARCH
When the problem occur, there should have a solution. And to develop a solution an innovative
leader should be resourceful search a way that he or she can think of bright ideas.
 EVALUATION OF ALTERNATIVES
In determining the needs and wants of the consumer, the innovative leader should provide
different choices of products.
 SELECTION STAGE
After a thorough research and evaluation of the alternatives, an innovative leader should select
the best ideas that will be used in the decision making.
 EVALUATION OF DECISION
The goal for every marketer is not a one-time customer but a repeating lifetime customer. One
bad experience of buyer’s remorse and your branding perception could be tarnished forever.