Innovation

Term

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ways to think about innovation

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Terms in this set (5)

ways to think about innovation

*Adjacencies
*Focus on strengths
*Manage risk

*Blue Ocean
*Focus on customer experience
*Create new markets

*Disruptive Innovation
*Simple Low Cost Alternatives
*Focused on the technology field

value innovation

Offer the customer a unique set of values that are not currently in the market.

By doing this you create a unique market niche where others are not competing.

Image: value innovation

Elements of blue ocean strategy

•Focus on a target audience
•Families with children from 3-10 years old

•Engage the imagination
•Creative and continuous theming

•Do something unique
•The world has too much sameness

•Sell the experience
•Its about adventure, not gallons of chlorinated water

examples of disruptive innovations (simple low cost alternatives, focused on technology)

Image: examples of disruptive innovations (simple low cost alternatives, focused on technology)

Innovation happens at many levels (Big I / little i)

Image: Innovation happens at many levels (Big I / little i)