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Value Opportunity Analysis – Innovation Management

Value Opportunity Analysis: 

Translating Marketplace Insights into Product Specifications

June 8, 2017

CEOs and Presidents of EDGE member companies joined their colleagues in the innovation realm as part of the InnoQuest series at Tarkett North America headquarters location in Solon. Dr. Peter Boatwright, author of “Built to Love: Creating Products that Captivate Customers” and co-Director of the Integrated Innovation Institute at Carnegie Mellon University shared what really drives consumer behavior and how to apply that to your company’s innovation pipeline.

The Tarkett team shared their story of co-creation and customer-centric innovation and how their approach to innovation is helping to differentiate them in the flooring industry. Tarkett is a global leader in innovative solutions for flooring and sports surfaces. They offer a wide range of flooring products including vinyl, carpet, rubber and laminate for installation in a variety of spaces including hospitals, schools, housing, hotels, offices and retail stores.

Dr. Boatwright is a professor of marketing and new product development and teaches courses on pricing strategies, data analytics, and project management. He is a scholar and practitioner, and his work has been integrated into companies such as Apple, Nissan, Whirlpool, Bayer MaterialScience (Covestro), and Alcoa.

Key Takeaways:

  • Focus on the consumer experience perspective.
  • Market Driving (creating demand) vs. Market Driven (responding)
  • Innovation process for stage gate is more circular than straight.
  • Using Value Opportunity Analysis – predict success/failure by focusing on the user’s point of view

 

 

 

 

Next InnoQuest Innovation Management Session:

About the InnoQuest Innovation Management Program:

A collaborative forum offered bi-monthly to leaders and innovation practitioners of mid- to large-sized companies in Northeast Ohio. Participants gain best practices in managing and guiding the innovation process, new working relations with peer companies & leading practitioners and actionable steps to improve a company’s innovation practices. Program content has included: Additive Manufacturing (3D Printing), Lean Start-Up Principles, Design Thinking and Creativity in Leadership. Each session is held at a location of interest throughout the region; past locations have included; Sherwin Williams, The Technology House, NASA Glenn Research Center, Baldwin Wallace Center for Innovation and Growth, Parker Hannifin’s New Innovation Center and the Cleveland Institute of Art.

To participate in the InnoQuest Innovation Management program contact:

Chris Keller (Chris@edgef.org; 216-346-6300) or Grant Marquit (Grant@edgef.org; 216-215-5058)