Market Driven Innovation
Have you ever asked yourself
- How can we know we are working on the right innovations?
- What can we do to ensure that new value propositions are on target?
- How do we make best use our of our limited product development resources?
- What is the most efficient approach for new offering generation?
These are the questions underlying decisions to fund innovative growth concepts. We answer these questions for or with your growth teams using insights generated from analysis of the voices of customers you want to target.
Market Driven Innovation – A Roadmap to Success
With Market Driven Innovation, we provide clients with the roadmap to profitable growth. Our roadmaps are based on a deep understanding of specific markets, customer needs, and their desired outcomes. The map starts with the market and ends with what you have to do to deliver to the market that will drive revenue.
This market-back practice uses a set of well-defined tasks to identify, collect, analyze, and use what the market tells us to launch lucrative new offerings. Its success depends on your organization’s culture, which is an outgrowth of the leadership’s mindset, the skillset employed by your organization, and the toolset you use to make success happen.
Businesses that practice Market Driven Innovation build their organizations around the markets they have identified as best to serve. Market research provides the deep understanding of the needs and desired outcomes held by customers in targeted markets. It fuels strategic decisions to innovate products, services, technology platforms, positionings, and business models. Market Driven Innovation improves value creation and value delivery, because your new product development is what your target customers will pay for.
Lean Six Sigma for Growth
Market Facts or Leadership Gut Feelings – Which Delivers Sustainable Growth?
Many Six Sigma practitioners have demonstrated success using Lean Six Sigma to “improve” their operational, sales, and engineering processes, and these successes have resulted in enhanced business performance. Quality, process simplification, and cost avoidance benefits have all brought lower costs, but does that drive growth?
Regardless of the specific growth process your company uses, Lean Six Sigma generally contains four distinct arenas of activity:
- Idea generation and selection
- Market validation
- Business case development
- Targeted commercialization
Research shows that market validation issues rank the highest among all reasons for growth project failures. Breakthrough advises, teaches, and coaches clients in the use of Lean Six Sigma to make their application of the marketing process (including market research and analysis) more effective.
Application of Lean Six Sigma
We apply Lean Six Sigma tools and methodologies to better
- Define the market opportunity
- Describe the forces that could impact your concept
- Develop the value proposition
- Build the value-price strategy
- Measure customer perceived value
- Generate product positioning and motivating messages(s)
We have developed a full complement of coursework specifically for marketers – in their language and applicable to the work that they do. Our coaching insures that real learning and business improvement take place.