The Evolving Marketspace: The Case of ATM and Voice Messaging Service

2008-08-19

One of the profound consequences of the ongoing information revolution is its influence on how economic value is created and extracted. Specifically, when buyer-seller transactions occur in an information defined arena, information is accessed and absorbed more easily, and arranged and priced in different ways. Information-defined transactions - value creation and extraction in the marketspace - are creating new ways of thinking about making money and are thus recasting the value proposition. To learn more about the new ways, consider two examples of industries that have entered the marketspace. One has not yet learned how to identify opportunity and sustain margins in this new realm of economic activity; the other has realized the profit potential of emerging trends. This post is excerpted from Jeffrey F. Rayport, John J. Sviokla paper “Managing in the marketspace” published in Harvard Business Review.

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Customer Inputs Needed to Master the Innovation Process: Jobs to Be Done

2008-08-18

To execute their innovation processes successfully, companies must obtain three distinct types of data. One of these types is information relating to jobs their customers are trying to get done (that is, the tasks or activities customers are trying to carry out). According to Anthony Ulwick, knowing what job a product or service is designed to perform is fundamental to the company’s and the product’s success—not to mention the customer’s success at getting the job done.This post is excerpted from “What Customers Want: Using Outcome-Driven Innovation to Create Breakthrough Products and Services” by Anthony Ulwick

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Five Ways To Draw New Product Ideas Out Of Current Products

This post, excerpted from “finding your innovation sweet spot” by Jacob Goldenberg; Roni Horowitz; Amnon Levav; and David Mazursky, presents five ways to draw new product ideas out of current product, including Substraction; Multiplication; Division; Task Unification and Attribute Dependency Change

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Jean-Marie Dru on Why Advertising Has to Change: The Emergence of The New Audience

The advertising professional is now faced with a progressive reversal of the roles between the advertiser and the audience, between the sender and the receiver. He/she is confronted with the so-called My Media Generation, who are rapidly demanding that all media be personalized and tailored to their needs, moods, and desires. This generation has also been referred to as “Me Inc.” But this unplanned initiative eventually allows us to have an entire library to the extraordinary opportunities that are opening up to us today, opportunities even the most observant among us could scarcely have predicted ten years ago. (This post is excerpted from Chapter 2 of TBWA CEO Jean-Marie Dru’s How Disruption Brought Order)

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Common Characteristics of Successful ICT-Driven Innovators

This post, excerpted from Creativity is not enough: ICT-enabled strategic innovation by Constantinos C. Markides and Jamie Anderson, presents four Common Characteristics of Successful ICT-Driven Innovators: (i) Successful innovators focused on technology as a driver of value, not just as a tool for operational efficiency; (ii) Successful innovators are early adopters of lCT in their industry, even if the technology is already dispersed in other industries; (iii) Successful innovators do not wait for complete technology solutions to fit their customer requirements - if needed, they develop technologies themselves and (iv) Successful innovators have CEOs that act as technology evangelists.

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Domains of Differentiation: Product Differentiation

The most common form of differentiation is based on unique product features and innovations or on the suite of product features being offered. Generally, this is the most fleeting form of differentiation because it is easiest to copy unless the product has some form of copyright, trademark, or patent protection or unless the product is truly uncopyable. Products that exemplify this form of differentiation include Microsoft Windows, the Wall Street Journal, Intel Pentium chips, CIPRO®, and Julia Roberts. Each “product” is unique in some way. (This post is excerpted from Chapter 2 of “winning behavior - What the Smartest Most Successful Companies Do Differently”, by Terry R. Bacon and David G. Pugh)

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The AUCNET system and the Birth of the Marketspace

2008-08-17

One of the profound consequences of the ongoing information revolution is its influence on how economic value is created and extracted. Specifically, when buyer-seller transactions occur in an information defined arena, information is accessed and absorbed more easily, and arranged and priced in different ways. Most important, the information about a product or service can be separated from the product or service itself. In some cases, it can become as critical as the actual product or service it terms of its effect on a company’s profits. (This post is excerpted from “Managing in the marketspace”, a HBR article by Jeffrey F. Rayport, John J. Sviokla)

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