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Filling a Need

Filling a Need. Product/Service Innovation. Today’s Agenda. Gap Analysis: Filling a consumer need/want Complete Product Innovation ThinkSheet on Schoolwires Modeling Software. Gap Analysis. Analyze a “Gap” in the market of Consumers Needs and Wants Need=absolute necessity

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Filling a Need

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  1. Filling a Need Product/Service Innovation

  2. Today’s Agenda • Gap Analysis: Filling a consumer need/want • Complete Product Innovation ThinkSheet on Schoolwires • Modeling Software

  3. Gap Analysis • Analyze a “Gap” in the market of Consumers Needs and Wants • Need=absolute necessity • Basic food, water, clothing, shelter • Want=anything more than this • Example: we need fats, carbs, protein but we don’t need Subway or KFC. • We need water but don’t need Evian • We need clothing but don’t need Jordans

  4. Gap Analysis Example • Can take many forms. Think of two characteristics of your market that can be compared? • Fast Food: Taste vs. Convenience • Electronics: Durability vs. Price • Cars: Speed vs. Luxury Let’s see an example!

  5. Gap Analysis Example The Gap Taste Convenience What does this graphic show us?

  6. What’s next? • Items to complete today: • Product/Innovation ThinkSheet • Innovation tool: • Google SketchUp tutorial

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