Creativity & the Business Idea

Sources of New Ideas Consumers Existing Products Distribution Channel Federal Government Research & Development

Methods of Generating Ideas Focus groups Brainstorming “Freewheeling ideas” Problem Inventory Analysis Match problems with products

Methods of Generating Ideas Creative Problem-solving Brainstorming Reverse Brainstorming Focus on the negative Brainwriting Written generation of ideas Gordon Method Ideas Concept Problem Solutions

Methods of Generating Ideas Creative Problem-Solving Checklist Method List of related issues Free Association Generate words which relate to the problem Forced Relationships Look at product combinations Collective Notebook Method Consider problem and write down solutions as they come to you

Methods of Generating Ideas Creative Problem-solving Attribute Listing Look at positives and negatives to form new idea Big Dream Approach Thinking without constraints 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 Conflict?? 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??