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Access to Customerchannelbrandexisting customers
Identification of Need Creation/Discovery ofTechnology
The Textbook Model
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Access to Customerchannelbrand
Identification of NeedCreation of Technology
Technology Push
via partner, OEM customer, or (rarely) on own
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Product Development Process
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Concept Development Process
IdentifyCustomer Needs
EstablishTarget
Specifications
GenerateProduct
Concepts
TestProduct
Concept(s)
SetFinal
Specifications
PlanDownstreamDevelopment
DevelopmenPlan
MissionStatement Select
ProductConcept(s)
Perform Economic Analysis
Benchmark Competitive Products
Build and Test Models and Prototypes
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#66 2 Location Reporting Fish Tape
Fish tape with tip that tells you where it is Uses RF Exterior
hand held sensor like stud finder
locates it Could have sensor on second fish tape and
auditory feedback that tells you when oneapproaches the
other
$
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Initial Concepts Best Ten Best Three Final Name
AstroPong Catapong
Catapulooza Experipult FlingThing Fooz Funpult Hurlicane
Hurlitzer LearningLever PennPong Physazz PingFling Pongit Slingcat
Swish TheCatapult
Varipult Xpult
Catapong Catapulooza
Experipult FlingThing Funpult Hurlicane PingFling Slingcat
Varipult Xpult
Catapong Varipult
Xpult
Xpult
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The Statistical View of Opportunities
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Expected Quality of Bes t Idea as Function of Number of
Ideas
Source: Approximation based on calculations from distribution
of247 venture ideas from 47 individuals.
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Quality ofOutput
qqq
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West Philadelphia X-Prize Team
http://www.rollingstone.com/news/story/24044267/boyz_under_the_hood
http://www.rollingstone.com/news/story/24044267/boyz_under_the_hoodhttp://www.rollingstone.com/news/story/24044267/boyz_under_the_hood
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N Fractionof Ideas
Singletons 197 68%
Pairs 22 8%
Triples 12 4%
Clusters of 4 16 6%
Clusters of 5 5 2%
Clusters>5 38 13%
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Fraction of Opportunities Identical (50% threshold)
New Ventures Web-Based
Products New Products I New Products II Classroom
Technologies
N Fractionof Ideas
N Fractionof Ideas
N Fractionof Ideas
N Fractionof Ideas
N Fractionof Ideas
Singletons 139 60% 175 70% 197 68% 165 58% 78 25%
Pairs 30 13% 40 16% 22 8% 40 14% 6 2%
Triples 12 5% 12 5% 12 4% 27 9% 6 2%
Clusters of 4 12 5% 12 5% 16 6% 4 1% 0 0%
Clusters of 5 0 0% 10 4% 5 2% 5 2% 0 0%
Clusters>5 39 17% 0 0% 38 13% 45 16% 221 71%
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What should be the shape of the funnel?
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Cascades and Whirlpools
Calendar time is critical.
Raw opportunities are abundant andinexpensive.
Learning. The process of developing
opportunities leads to an increasedability to identify good
opportunities.
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How Important is the Raw Idea?
A hot-shot race-car named Lightning McQueen getswaylaid in
Radiator Springs, where he finds the truemeaning of friendship and
family.
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Project Mission Statement
Some existing products:
Assume you work within a company with a strong focus on selling
and marketing to college students. Your senior managementhas asked
your team to develop a new product to address a product category in
the college student market.
The constraints on your project are: The product is highly
likely to require fewer than 10 custom components.
The product is highly likely to be sold to the end consumer for
less than $49.99. The product could be sold through a specialty
retail channel near the Penn Campus (EMS, The Bookstore, Urban
Outfitters) The product is a physical good and not software or a
service.
(shoelace clip)
(clip-on fender)
iPod case
Urban Cart
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Urban CartThe cart hauls gear efficiently in urban settings.
Market Urban dwellers who transport stuff on streets and
sidewalks via foot and/or bicycle. Suburban dwellers who
transport stuff more than 50
meters from the car. 100% of Penn Students (N=20,000) engage
in
transporting stuff.
Unmet Needs the cart is the one device I need for all my
hauling. the cart hauls my groceries over tough urban
terrain. I can use my cart with my bike.
1. Bin Cart 2. Tray Cart 3. Convertible gear/bag cart
stackable/nesting binsminimal cart frame
300mm pneumatic tiretray contains all cart partsstores under
bed
convertible from hand to bike modehangs shopping bags
Three Possible Concept Directions
Some Existing Solutions
I ti P OPIM/MEAM/IPD 415/515
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Innovation Process OPIM/MEAM/IPD 415/515
~600 opportunitiesidentified by individuals
~60 opportunitiesdeveloped by individuals
~30 teams of 2
~15 products
offered for sale atDesign Fair
opportunity pitches and
multivoteDarwinatorsystem
~15 teams of 4
N (?) profitable products
concept prototypes
and purchase-intent survey
~300 opportunitiessubmitted by individuals
