Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection Paul Byron Jersey Womens , development and commercialisation.
There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success Joel Armia Jersey Womens , these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.
One of the useful methods of valuing ideas is to analyse whether the firm, team or individual responsible for turning an idea into a commercial success has the required fit.
Fit with the firm can be measured in a number of ways:
a) Does the idea have a strategic fit with the company? It may be a great idea but if lacks strategic fit, its development and commercialisation may cause long term problems. In this case there are three choices: drop it, license it or create a joint venture.
b) Does the firm have the technical expertise to make it work? If not where can it be found? What is the cost of importing the technical expertise?
c) Does the organisation have the business competencies to make it work? These include competencies in marketing Mike Reilly Jersey Womens , new product development, the ability to manage widely diverse and scattered employees and facilities. Again, is the idea big enough to justify the expense?
These topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit Karl Alzner Jersey Womens , Good Idea Generator Software and Power Point Presentation) from .
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Kal Bishop, MBA
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You are free to reproduce this article as long as no changes are made and the author''s name and site URL are retained.
Kal Bishop is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv Jeff Petry Jersey Womens , creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on . 5 Key Marketing Questions Marketing Articles | December 16, 2002 5 KEY MARKETING QUESTIONSCopyright 2003 Bob LeducWhen you know the answers to these 5 key marketing questions Phillip Danault Jersey Womens , you can create effective web pages, sales letters and other sales generating communicatio...
5 KEY MARKETING QUESTIONS Copyright 2003 Bob Leduc
When you know the answers to these 5 key marketing questions, you can create effective web pages, sales letters and other sales generating communications. The answers to these 5 questions reveal how you can get your prospect''s attention and motivate them to take the action you want.
1. WHO DO I WANT TO REACH?
Describe detailed characteristics of your ideal prospect. Be very specific.
Once you clearly define the characteristics your ideal prospect you can develop a powerful sales message appealing directly to their unique interests and needs. Prospects are more likely to respond when they feel you are talking directly to them about their individual needs.
2. WHAT ACTION DO I WANT TO GENERATE?
Decide in advance what action you are trying to stimulate. Do you want to get inquiries for your product or service? Do you want to produce sales directly from your promotion? Or do you want to build a list of qualified prospects willing to receive frequent offers from you?
You can develop an effective promotion in a short time when you have a clear understanding of the action you are trying to generate.
3. WHAT IS MY COMPETITIVE ADVANTAGE?
Identify why prospects should do business with you instead of with a competitor selling a similar product or service. For example Max Domi Jersey Womens , do you provide faster results, easier procedures, personal attention or a better guarantee? If you cannot think of a reason - create one. Add something to your business you are not already doing.
Your competitive advantage can be responsible for fifty percent or more of your sales. Make sure you have one - and don''t lose it. Keep checking on your competition and make any changes necessary to keep your competitive advantage.
4. HOW WILL I PROVE MY CLAIMS?
Don''t expect prospects to believe what you say. Make sure you provide proof of any claim you make.
For example, collect and use testimonials from satisfied customers. Provide research data supporting your claims. Get endorsements from experts your prospects are likely to recognize.
5. HOW WILL I CREATE URGENCY?
Most prospects do not respond the first time they see your promotion. Instead Jonathan Drouin Jersey Womens , they delay making any response - then often forget about you.
You can convert many of these procrastinators into buyers by giving them a compelling reason to respond immediately. For example, give them a special price if they order now - or include a valuable bonus if they order by a specific deadline.
TIP: Develop a series of 4 or 5 different special offers. Use them one at a time with an expiration deadline. When one offer expires, replace it with the next offer and a new deadline. Continuously recycle through the same series of offers. This enables you to create urgency using special offers without taking time to create new ones.