1. Global Innovation Mangement Final Project
VeMBA 2018

2. The Project in Brief Projects will be graded by group
For your target customers and product / service
Prepare a 25 minute presentation summarizing your innovations, business model and why investors should invest.

3. Describe your Customer
Business is about creating a customer (Peter Drucker)
Describe the target customer for the company’s product (age, income, medical history, and other demographics
What will differentiate your product from competitors’ in the customer’s minds?
List the three features that are important to the target customer, and rank them from most to least important.

4. Quizzing
Detailed look at target customer usage and decision making regarding your product
Who, What, When, Where, How ….
Looks for ideas to Change the Customer’s Experience (i.e., redifferentiate your product)
Remember: Experience is dynamic
So are the questions in quizzing
Over a time period prior to the first time customer is exposed to the product
To a time well after the customer has stopped using it

5. Design a Product or Service
Select a Product or Service that you are interested in turning into a business
You can choose any product or service that might interest you, whether it innovates on an existing product or is something entirely new.
You can get ideas for the innovations, presentation and ‘investibility’ from

6. Overview of Feature Set Demanded by Customers
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
Basic
Discriminator
Energizer
Positive
Nonnegotiable
Differentiator
Exciter
Negative
Tolerable
Dissatisfier
Enrager
Neutral
So What?
Parallel

7. Define your Market and Logistic Channels
Determine the main steps in marketing and logistics
Each step on the consumption chain has a fixed annual cost of operation … you need to estimate this.
You should only list the 3 or 4 most important steps

8. Profitable Business Model
Tell a good story
Part of selling your strategy / investment
Tying Narrative to Financial Numbers
Strategy becomes less philosophy
More performance and outcome
When business models don’t work
It’s because the fail either
The ‘Financial Narrative’ test
Or the ‘Story’ test
Your financial statements should be summarized in terms of:
Revenues (what is the marginal revenue from each of your 2-3 discriminators)
Minus Variable Costs (landed CGS … where will you make this + labor?)
Minus Fixed Costs ( from the consumption chain)
For the next 5 years (quarterly or annually)

9. Market Entry
Define how you will measure the usefulness or attractiveness of each of these features to the target customer.
This performance metric should be a numerical measure
Define your product’s top competitor in each of these 3 features
A company marketing a competitive product or service
Are these companies profitable?
How big (approximately) is their business?
How will you compete with these companies?