Creativity & the Business Idea

PROF. DV SHIRBHATE PRINCIPAL,VIKRAMSHILA POLYTECHNIC DARAPUR www.vikramshiladarapur.org

Sources of New Ideas

Consumers Existing Products Distribution Channel Federal Government Research & Development

Methods of Generating Ideas

Focus groups Brainstorming

Freewheeling ideas Match problems with products

Problem Inventory Analysis

Methods of Generating Ideas

Creative Problem-solving

Brainstorming Reverse Brainstorming

Focus on the negative

Written generation of ideas Ideas Concept Problem Solutions

Brainwriting

Gordon Method

Methods of Generating Ideas

Creative Problem-Solving

Checklist Method

List of related issues Generate words which relate to the problem Look at product combinations Consider problem and write down solutions as they come to you

Free Association

Forced Relationships

Collective Notebook Method

Methods of Generating Ideas

Creative Problem-solving

Attribute Listing

Look at positives and negatives to form new idea Thinking without constraints

Big Dream Approach

Parameter Analysis

Focus on parameter identification and creative synthesis

Opportunity Recognition

What can you personally use to develop new ideas? Product Planning & Development Process

Evaluations
Market opportunity Competition Marketing system Financial Production

Product Planning and Development Process

Idea Stage

List ideas, check for viability

What is need for customers? What is the value to the firm?

Concept Stage

Get reactions to concepts

Physical attributes of product Comparisons to existing products

Marketing mix

Product Planning and Development Process

Product Development Stage

Small sample Consumer panel

E-commerce and Business Start-up

Growing importance

E-commerce is up 78% from 2001-02 What is spurring this growth?

Using E-Commerce Creatively

Old and new companies Who creates the e-commerce part of a business? Front-end operations v. Back-end operations

Websites

Considerations in web design?

Audience Objectives Updating Consumer benefits Speed Customization?

Websites

Factors in going on-line

Products deliverable economically and conveniently Must be interesting to market and ready to be shipped anywhere Must be more cost effective than brick-and-mortar Must be able to draw customers to site economically

Conflict??