The lifeblood of successful companies stems from a sustained stream of commercially viable innovations, both incremental and breakthrough. Customer satisfaction and loyalty result from delivery of novel solutions to new problems, and shareholders demand a constantly refreshed product portfolio promising robust market returns.
In this program, we will examine how firms can successfully navigate critical decisions that face them in the pursuit of successfully commercializing an innovation in the marketplace. Specifically, we will examine how to develop powerful value propositions for innovations, ROI estimates for really new products, market prices for innovations, and communicating innovations. We will also study best practices for re-launching and revitalizing stagnant products in mature markets, and explore skills and structures for managing a portfolio of incremental and breakthrough products.
- Competencies for successful innovation
- The role of innovation in product and brand strategy
- Managing incremental and disruptive innovation
- Enabling marketplace success of innovations through powerful value propositions
- Commercializing and pricing innovations
- Commercializing innovations: Shaping customers, markets and partners
- Working around challenges in pricing innovations and deriving ROI estimates; Work through detailed examples of price development
- Innovations challenges for market leaders
- Case discussion: Synthes
- Dealing with the innovation challenges of being a market leader
- First-mover versus first-mover advantage
- Managing a portfolio of incremental and breakthrough innovations
- Revitalizing innovations
As a result of attending this program, participants will:
- Learn how to develop powerful value propositions for product innovations that enhance and leverage core product value, differentiate from competitive technologies, and establish a market presence
- Develop hands-on experience in developing pricing for innovative products and services, and understand best practices and challenges involved in developing market share and ROI estimates for innovations
- Examine challenges involved in being first movers, particularly for established firms with successful product portfolios, and examine the benefits and challenges posed by established brand positions
- Learn best practices for re-innovating stagnant products and services in mature markets
Who Should Attend
Product managers and developers, marketing professionals, and contributors to strategic planning and implementation.
Individual Participants: $645
Package Pricing: 1 class day per participant