~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Innovation Series: Part Six, Segment Two
You Become President of Designer Desks USA!September 2007
In this issue
-- Questions You Should Ask Yourself
-- How Do Your Benefits Rate?
-- Test Your Creative and Innovative Powers
-- Which Benefits Should You Eliminate, Shrink. Improve, or Create?
-- Analysis of Ratings
This is the continuation of the previous newsletter titled Innovation is About Benefits. There's one big difference in this issue -- YOU GET TO BE THE INNOVATOR!!! You will be President of Designer Desks USA, which is in the process of developing a new desk model.
Questions You Should Ask Yourself
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~In the previous issue, we explored evaluating the benefits of your products and services. Of course, you should ask your customers to provide their evaluation of those benefits. In addition to that, you should ask yourself these questions:
In this issue, we will address what to do with the answers to the above questions. With the information derived from the answers to those questions, you can now evaluate the relative value of benefits. You and your competitors offer many of the same benefits to customers -- but often in varying degrees.
How Do Your Benefits Rate?
Test Your Creative and Innovative Powers
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Test your creative and innovative powers. As president of Designer Desks USA, you are conducting an analysis of the benefits of the desks you manufacture. Here's how customers rated your desks in each of the key feature and benefit areas:
Which Benefits Should You Eliminate, Shrink. Improve, or Create?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~From the above matrix, it becomes readily apparent that customers look for comfort first when purchasing a desk. Starting with height feature and the corresponding comfort benefit, let's see how customers rate the various brands. On a scale of one to ten, with ten being the best, this is how customers rated the height and corresponding comfort of the various competitors.
For the purpose of this comparison, assume that your
company is Brand B. Obviously, for a benefit that
customers value as a 10, Designer Desks USA has
plenty room for improvement. From the analysis of
the above data, you must ask yourself the following
Analysis of Ratings
If you find this problem interesting enough to actually work your way through the new desk design problem, send a copy of your solution to firstname.lastname@example.org , and we will include it in the next issue.
In the next issue of Global Profit Builders, we will tell you how Designer Desks USA actually met the challenge of developing a new desk model that would embody the customers' high-rated innovative improvements and savings.
If you have been following the Innovation Series in
Global Profit Builders, and like what you have
date, please forward a copy of this newsletter to at
least three people -- or more -- who you believe
would be interested in the topic.
Creativity and Innovation are not a one time process;
build them into the daily thinking and doing in your
business. Start the ball rolling! Develop creative and
innovative thinking in your organization! To schedule
a keynote or seminar on INNOVATION with Michael
Wynne, or to request
a free consultation, call (630) 420 2605, or e-mail
Michael@mikewynne.com . For more
information, visit Michael's website at
Creativity and Innovation are not a one time process; build them into the daily thinking and doing in your business. Start the ball rolling! Develop creative and innovative thinking in your organization! To schedule a keynote or seminar on INNOVATION with Michael Wynne, or to request a free consultation, call (630) 420 2605, or e-mail Michael@mikewynne.com . For more information, visit Michael's website at www.FreeProfitTips.com
phone: (630) 420 2605