Blue Mine Grouptag:typepad.com,2003:weblog-13464602009-11-13T07:16:52-08:00Maximizing the value of innovationTypePadRoot cause of short-term challengestag:typepad.com,2003:post-6a00e008d1a6d0883401287596acf0970c2009-11-13T07:16:52-08:002009-11-13T07:16:52-08:00In our experience, the root cause of all of these of issues is a fundamental flaw in the answers to one or more of three simple but profound questions: Which products do we offer to which markets? How do we...Michael LurieThe business model as root cause of short-term challengestag:typepad.com,2003:post-6a00e008d1a6d088340120a6ac6023970c2009-11-05T08:38:47-08:002009-11-05T08:38:47-08:00What are your biggest short-term challenges? How can you address them effectively to ensure the survival and growth of your venture? Critical short-term challenges In today’s precarious economic conditions, most ventures are facing major short-term challenges in addition to their...Michael LurieProduct Marketingtag:typepad.com,2003:post-6a00e008d1a6d088340120a635412a970b2009-10-29T11:49:52-07:002009-10-29T11:49:52-07:00Product marketing focuses on attracting and winning customers as effectively as possible. The primary responsibilities of the product marketing role comprise: Clearly defining the target markets, customers, needs and buying cycles, and working with both the marketing and sales disciplines...Michael LurieProduct developmenttag:typepad.com,2003:post-6a00e008d1a6d088340120a66a4525970c2009-10-22T10:15:25-07:002009-10-22T10:15:25-07:00Product development focuses on building and delivering products as efficiently as possible. The primary responsibilities of the product development role comprise: Developing clear and detailed “whole” product definitions – the total set of product features and benefits, together with target...Michael LurieProduct strategytag:typepad.com,2003:post-6a00e008d1a6d088340115724b8ac6970b2009-07-30T17:59:58-07:002009-07-30T17:59:58-07:00Product strategy focuses on planning and managing the product business model over its lifecycle. The main components of the product business model are: Product market definition – defining the target markets and customers, the urgent customer needs to address, and...Michael LurieStrategic product management (Continued)tag:typepad.com,2003:post-6a00e008d1a6d088340115713d5374970c2009-07-24T17:50:49-07:002009-07-24T17:51:05-07:00However, for many ventures, product management is a weakness, not a strength. Common issues include the following: There is a lack of understanding of the true nature of product management as a holistic, strategic discipline. Product management is only partially...Michael LurieMaximizing the value of innovation through strategic product managementtag:typepad.com,2003:post-668485632009-05-15T15:44:27-07:002009-05-15T15:44:27-07:00Successfully creating, commercializing and realizing value from innovation is challenging. Most new product and service innovations either fail to earn a positive return on investment at all, or fail to realize their full economic potential. There are many reasons for...Michael LurieGenerating high potential new product and service ideas: a practical guidetag:typepad.com,2003:post-665128012009-05-07T13:32:57-07:002009-05-07T13:32:57-07:00Generating ideas externally In addition to generating ideas internally, it is critical to look externally for new product and service ideas. While this has long been done by successful innovators, it remains relatively rare – the “not invented here” syndrome...Michael LurieGenerating high potential new product and service ideas: a practical guidetag:typepad.com,2003:post-662207032009-04-30T14:22:45-07:002009-04-30T14:26:31-07:00Generating ideas internally: With a clear innovation strategy in place to guide your idea generation activities, turn next to generating ideas internally. There are many tactics you can use to do so, we present seven below. Like with most new...Michael LurieDeveloping an innovation strategytag:typepad.com,2003:post-658983972009-04-22T15:32:14-07:002009-04-22T15:32:14-07:00The first element is to define and communicate your innovation strategy for your business. Your innovation strategy sets the direction and parameters to guide your idea generation efforts. These should allow for breakthrough, out-of–the box ideas, yet give sufficient guidance...Michael Lurie