Creativity & the Business Idea

1
Creativity the Business Idea
2
Sources of New Ideas

• Consumers
• Existing Products
• Distribution Channel
• Federal Government
• Research Development

3
Methods of Generating Ideas

• Focus groups
• Brainstorming
• Freewheeling ideas
• Problem Inventory Analysis
• Match problems with products

4
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

5
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

6
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

7
Opportunity Recognition

• What can you personally use to develop new ideas?
• Product Planning Development Process
• Evaluations
• Market opportunity
• Competition
• Marketing system
• Financial
• Production

8
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

9
Product Planning and Development Process

• Product Development Stage
• Small sample
• Consumer panel

10
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

11
Websites

• Considerations in web design?
• Audience
• Objectives
• Updating
• Consumer benefits
• Speed
• Customization?

12
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??