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Fendi : best known for its "baguette" handbags. Symbol of Fine craftsmanship. Project Ideation and Opportunity Mapping. By- Rahul Jain. Creative Inspiration. I PLAY, I CREATE, I SUCCEED. BEST CREATIVE IDEAS WILL COME When we are delighted and relaxed. Searching New Ideas. - PowerPoint PPT Presentation
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Fendi : best known for its "baguette" handbags.
Symbol of Fine craftsmanship.
Project Ideation and Opportunity Mapping
By- Rahul Jain
I PLAY, I CREATE, I SUCCEED .
Creative Inspiration
BEST CREATIVE IDEAS WILL COME When we are delighted and relaxed.
Searching New Ideas
Guided by Your Broad Objectives/ Passion/Skills/Experience
Affected by External Opportunities/ TrendsBrainstorm to generate solutions(Environmental Analysis)Shortlist Ideas for detailed scrutiny
1. Business Landscaping2. Other constraints
YOU HAVE TO PLAY BOTH
“The one real object of education is to leave a man in the condition of continually asking questions.”
Bishop Creighton
RecapProject management- Meaning &
ImportanceArt & ScienceImplementation toolConnected with our Mission/PassionPassion CollageProject Management CycleGoal settingSMART
Video - Passion
YOUR BEST SELFThis exercise involves thinking back to a
time when you were at your best.
Write: What were your doing ? Did you have a boss or you were self directed
?
If you had one year left to live how would you spend it ?
Why Creative Intuition?
MOTHER-IN-LAW: (not mine!)
When you rearrange the letters:
WOMAN HITLER !!!!!!!!!!!!!!
Right Brain Project IdeationCreativity and Project Ideation go hand in
hand.
YOU ARE Invited to embrace your creative nature in the realm of Business
Your Gift of Imagination and Intuition will help you find fresh solutions to your Business challenges.
VIDEOVideo on Lincoln
Project IdeationAllow yourself to Dream Big and Connect emotionally with your Vision/Mission &
Passion. Understand the relevant Business
Landscape. ( See Business Landscape Play Sheet)
Scanning the EnvironmentOpportunitiesBarriersTrends ( Social, economic, technological
Buzz)CompetitorsCustomers YourSelf ( Strengths & Challenges)
CASE STUDY OF IML
TIPSFocus on Most relevant clues
Don’t believe in perfection
Trust your instincts
Make assumptions & Refine
Detective Bulletin Board
Articles about the EnvironmentMarketing Material of your competitorsTrends Information about MarketsInformation about Consumers ( Target
Market)
Sources of New Opportunities
Burberry VIDEO
Sources of New OpportunitiesCustomer-route: When customer
dissatisfaction is high; appropriate also
when investment in technology
development/application not yet made. E.g.
Demand of Image Makeover for Men: Men’s
apparel segment growing
Check Video
Product-route: Appropriate when product or
process developed and attractive application
required. Ex. BMW – X1 ( low priced )
Sources of New Opportunities
TrendsGreen Movement is becoming more commercial
Interest in comfort, travel and leisure
Ex. Online Luxury Portals .
Lagerfeld Launches Economy Fashion Line – Online
Video.
Do you agree that basically we are….
And
Any product/service that helps us achieve these needs have potential
• Lazy
• Pleasure seeking
• Comfort seeking
Some places to track trendsGood Old LibraryGoogle “ Guru”Books, Mags, TV etc.Ted.com, trendwatching.comIndustry magazines, Annual reports of
competitorsCompetitors are your “VIRTUAL MENTORS”
Competitors: VIRTUAL MENTORS
Detective Field workBlogs, Social Media SitesWebsite, Online stores, Price lists,Product description, Service offeringsBlog comments, TestimonialsNetworking, MeetingRetailers, Expos, Training.
Creative ReflectionWhat themes do you notice ?What is your target market ?What are the competitor’s challenges ?What issues are your potential customers
concerned about ?What new insights you have gained ?
Factors for Industry attractiveness Market growth rate
Market size
Demand variability
Industry profitability
Industry rivalry
Global opportunities
Macro-environmental factors
Self-Opportunity Match
Self
Previous Experience (knowledge, skills)
Access to new knowledge, skills
Customer
Problems (existing, emerging)
Level of dissatisfaction (criticality, discontentment)
Solution to Customer Dissatisfaction
Financial Attractiveness Strategy (source, cost, availability, adequacy)
Marketing Attractiveness Strategy (size, Entry, Sustenance)
Entrepreneurial Capability Strategy (Attitude, Skills, Knowledge pool/network – individual/group)
Technical Attractiveness Strategy (Existing/new technology and products/services)
Criteria in Selecting IdeasInvestmentRate of returnImplementationMarket SizeRiskUniquenessExpected Life FlexibilityEnvironment considerationsEffectivenessTotal Score on Each parameter ( 1 to 5 – Poor to
Good)
Screening Ideas: Are they Opportunities?5 Questions
1. What important customer problem can you solve?
2. How are you going to do it?3. How many customers are there that are willing
to buy from you?4. Why can only you provide the solution?5. How can you defend against others?
Ask these questions BEFORE somebody else does!
Screening an Opportunity:5 Questions
1. What important customer problem can you solve?
How valuable?How painful?Remember, you need to change
somebody’s behavior to buy your product.
Screening an Opportunity:5 Questions
2. How are you going to do it?
Business model:Product
Distribution
Location
Technology/Innovation
Service
Brand
Screening an Opportunity:5 Questions
3. How many customers are there that are willing to buy from you?
How many customers are there? (Market size)
How many will buy from you? (Market share)
Who will be your first customer (besides your Mom)?
Who will be your 100th?
Screening an Opportunity:5 Questions
4. Why can only you provide the solution?
How are you unique? What do you provide that nobody else can?
Screening an Opportunity:5 Questions
5. How can you defend against others?
Location, brand, patent (or other IP), great service, great taste, great fashion sense….
Referenceshttp://blog.euromonitor.com/luxury-goods/p
age/2/http://euromonitor.typepad.com/files/luxury
-goods-overview-for-the-giveaway-v2.pdf
Individual Assignment related to End term
Market Trends Play sheet
Business Landscaping