Ideation for the innovation process

The difference between same-old / same-old in product innovation and creating new markets through more complete, more relevant market perspectives. Learn what to include and how to set it up.

 

The frustration about lost opportunities left and right

The term ideation was coined from combining the two words idea and generation. Ideas are being produced all the time. However, much potential is lost because great ideas vanish without being properly pursued.

A company’s innovation process also produces many viable ideas. Some before the process is activated, some during and some as a result of the innovation process.

If there is a proper process that is!

Ask your friends and acquaintances in your network for their innovation process and you might get as many different and varying answers as for the question for innovation definition.

The number of companies who do not entertain a proper innovation process and disagree even internally for their innovation definition is staggering. Especially because almost none of them offer truly novel innovations and inventions to their chosen markets.

Others employ a Chief Technology Officer or Chief Innovation Officer and leave the rest to this appointment. Or the innovation process resides within the R&D department and management asks the chief scientist for new inventions every once in a while.

This might work well for portfolio and product improvement which has a lot potential for innovation, especially improvement innovation (to improve effectiveness and value in use) and business innovation (to improve processes and efficiency). 

Or in short: serving existing markets.

However, it hardly taps into the much more attractive potential to innovate something extraordinary, something nobody else will and can offer to the market place for quite some time. 

Other than serving existing markets this exciting potential is all about creating new markets. 

These are products and services most consumers and end users don’t even know they might need or want. Business books and biographies are packed with some such examples and most companies seem to envy the market inventors without being able to follow their lead.

If things are not failing, you are not innovating enough.
— Elon Musk (CEO/CTO of SpaceX, CEO/Product Architect of Tesla Motors, Chairman of SolarCity, Co-chairman of OpenAI)


Comment

Marketing EffectivenessMarketing Mix StrategyMarketing Strategy & PlanningNew Market Offering & InnovationIdeation & Concept Generation