Innovation Workout Assessing the Potential of an Innovation Quiz, Consumption Chain Analyze and Feature Map an Innovation
Pharmaceutical Innovation • The Blockbuster drugs ($1 billion or more in annual sales) of the past 15 years have all been “lifestyle” drugs • Mood adjusters (Prozac) • Performance enhancers (like Viagra) • Recreational (MDMA, a.k.a. Ecstasy)
Your Task • Design (i.e., identify the major features of) a new Blockbuster Drug by • Quizzing your teammates • Use a Mind Map to find the main feature sets of a hypothetical blockbuster drug • Constructing your consumers (a.k.a. teammates’) Consumption Chain • Identifying the discriminators and energizers • (Feature-Attribute Map) for the significant steps of the Consumption Chain
ToolsetsQuiz & Organize with a Mind Map Ask Questions: Customer Experience is dynamic • So are the questions in quizzing Who? • … is with customers while hey use the product • How much influence do they have • If we could arrange it, who would we want the customer to be with … • What? • … Do our customers experience when the use the product • … needs provoked our offering • What else? … might customers have on their minds • When? … do our customers use this .. • Where? … are our customers when they use this • How? … do customers learn to use the product .
ToolsetsOverview of Feature Set Prioritize and choose the major features of your innovation from the main branches of the Mind Map Review the main innovation features with a feature-attribute map for the entire innovation
ToolsetsConsumption Chain Analysis • Determine the main steps in consumption • Each step on the consumption chain has an attribute map • You should only list the 3 or 4 most important steps • These will determine whether the potential customer proceeds to the next step (good) • Or leaves the consumption process (not good)
ToolsetsFeature-Attribute Map the 3-4 Key Steps in the Consumption and Manage those 3-4 Steps • Identify Discriminators and Energizers • Describe how you will manage each of these features of the consumption process
What to Present • Mind Map of Feature Sets for the Drug • Consumption Chain with key steps containing discriminators and energizers • Tell how you will manage each discriminator or energizer to encourage consumers to move to the next step of the Consumption Chain • Identify existing ‘substitutes’ for your new drug • Identify other potential barriers to entry for the drug