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• Breakthrough innovations strongly drive a company’s future growth.• Innovation satisfaction leaves room for improvement.• “Company culture” and “consumer understanding” best drive innovation
performance.• Understanding “consumers’ needs and desires” best helps to improve
consumer understanding.• Companies are largely unaware of newer market research methods.• Employees represent the best source for innovative ideas.• Companies believe to train their own employees is the best way to increase
consumer understanding.• Employee training is the least risky investment to increase consumer
understanding.• A partnership with a university seems ideal for experimental research projects.• A university partnership can also provide “company workshops” and
“employee education” for companies.
Quick Facts
Executive Innovation Survey.
• more than 150 participants
• more than 50% of the participants work in large companies (more than 1,000 employees)
• 2/3 men, 1/3 women
• 47% of the respondents are between 26 - 34 years of age, 33% are between 35 and 44 years.
• 2/3 have a management related job position
Demographics of the research.
Survey Participants.
26%
7%6%
8% 11%15%
28%
Consumer GoodsIndustrial GoodsMediaTelecommunicationsRetailFinancial ServicesOther
11%3%4%
5%
20%57%
GermanyUSAEnglandSwitzerlandAustriaOther
Industries Countries
The consumer goods industry represents the strongest industry in the survey
Germany and the USA are the two countries most represented in the survey
Industries and countries represented.
Survey Participants.
very important
important
moderate
less important
not important
0% 17.5% 35.0% 52.5% 70.0%totalconsumer goods industry
More than 80% believe that breakthrough innovations are either important or very important for their companies future growth. Consumer goods companies tend to value innovation some more than the total of all other industries.
Breakthrough innovations strongly drive a company’s future growth.
How important are breakthrough innovations for your company’s future growth?
industry leader
improved
average
less than average
0% 12.5% 25.0% 37.5% 50.0%totalconsumer goods industry
More than 1/3 rate their company performance as “average” or “less than average”.
Innovation satisfaction leaves room for improvement.
Rate your innovation performance compared to competitors.
“Company culture” and “consumer understanding” best drive innovation performance.
Companies can best improve their innovation performance by improving its “company culture”, and “consumer understanding”.
strongly
disagree
disagree
neither agree
nor disagree
agreestro
ngly
agree
totalconsumer goods industry
better consumer understanding
external partnerships
innovative company culture
better structured R&D processes
knowledge management system
outsourcing of R&D
cross-functional teams
What is needed to improve your innovation performance?
Understanding “consumers’ needs and desires” best helps to improve consumer understanding.
Companies see the most potential for creating better innovations in gaining additional knowledge about “consumers’ needs and desires”, “trends”, and “the decision making process”.
strongly
disagree
disagree
neither agree
nor disagree
agreestro
ngly
agree
brand experience
decision making process
product usage
possible influencers
lead users
consumers’ needs and desires
advertising effectiveness
How much consumer understanding is present?How to improve consumer understanding?
trendsstatus quoscenario w/ est. better consumer understanding
surveysinterviews
focus group interviewsconsumer panels
in-depth interviewseyewitness testimony interviews
responce latency interviewsneuroimaging
metaphor elicitation techniqueconsensus maps
ethnographic analysis
0% 25% 50% 75% 100%
knownunknown
Most of the more recent market research methods are hardly known. More than 1/3 of the respondents was not aware of “neuroimaging”, “consensus maps”, or “ethnographic analysis”.
Companies are largely unaware of newer market research methods.
Which market research methods are you aware of?
Employees represent the best source for innovative ideas.
For most companies their own employees are the best source for innovative ideas. Companies see most potential in improving customer and business partner relationships.
strongly
disagree
disagree
neither agree
nor disagree
agreestro
ngly
agree
business partners
R&D department
customers
academia
consultants
employees
competitors
Where do you get most innovative ideas from?I see most potential for getting innovative ideas in the future through...
current source for ideaspotential source for ideas
Companies believe to train their own employees is the best way to increase consumer understanding.
Companies would rather build consumer knowledge within their own company.
strongly
disagree
disagree
neither agree
nor disagree
agreestro
ngly
agree
employee training
hiring an external marketresearch company
Our company would best increase consumer understanding by...
partnering with a university consumer competence center
Employee training is the least risky investment to increase consumer understanding.
Companies would rather spend money for training their own employees than for external help.
strongly
disagree
disagree
neither agree
nor disagree
agreestro
ngly
agree
employee training
hiring an external marketresearch company
The most risky investment seems to be...
partnering with a university consumer competence center
much more expensive
more expensive
about the same
less expensive
far less expensive
0% 15% 30% 45% 60%
Two out of three companies believe that a collaboration with a university is less expensive than hiring a market research company. This fact leads to the conclusion that a university partnership seems perfect for experimental research projects.
A partnership with a university seems ideal for experimental research projects. Compared with hiring a company, partnering with a university is probably...
A university partnership can also provide “company workshops” and “employee education” for companies.
Besides specific research projects, companies are especially interested in “employee education” and “company workshops” provided by a university collaboration.
strongly
disagree
disagree
neither agree
nor disagree
agreestro
ngly
agree
employee education
company workshops
recruitment
exchange of research advances with other companies
laboratory research projects
Besides improved consumer intelligence a university partnership could provide additional benefits. How interested would you be in gaining special access to...
This survey found that there are two key sources of innovation. Participants clearly believe that their companies will get most innovative ideas in the future from employees as well as consumers. Employees represent a rich source of innovative ideas, which companies need to benefit from. Being exposed to a company’s products day in and day out, employees deploy a deep functional understanding that can bring many ideas for improvement. Understanding the consumer is equally important, since goods are produced to meet the consumer’s needs. Understanding these needs will directly translate into products that are more successful.
Two key sources of innovation.
Executive Innovation Survey.
Today a great mismatch exists between the way consumers experience and think about their world and how marketers use methods to collect this information. This is also demonstrated by the fact, that companies are largely unaware of newer market research methods (slide 11). Companies that improve learning on how people think by employing more recent market research tools, will be able to generate more successful innovative products.
Companies need to understand how people think and feel, instead of simply asking them about their needs and wants.Executive Innovation Survey.
available at
Read more about how to create breakthrough innovations
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