Fendi : best known for its "baguette" handbags. Symbol of Fine craftsmanship.

2. Fendi : best known for its "baguette" handbags. Symbol of Fine craftsmanship.

3. Project Ideation and Opportunity Mapping By- Rahul Jain

4. Creative Inspiration I PLAY, I CREATE, I SUCCEED .

5. BEST CREATIVE IDEAS WILL COME When we are delighted and relaxed.

6. Searching New Ideas • Guided by Your Broad Objectives/ Passion/Skills/Experience • Affected by External Opportunities/ Trends • Brainstorm to generate solutions (Environmental Analysis) • Shortlist Ideas for detailed scrutiny • Business Landscaping • Other constraints

7. YOU HAVE TO PLAY BOTH

8. “The one real object of education is to leave a man in the condition of continually asking questions.” Bishop Creighton

9. Recap • Project management- Meaning & Importance • Art & Science • Implementation tool • Connected with our Mission/Passion • Passion Collage • Project Management Cycle • Goal setting • SMART

10. Video - Passion

11. YOUR BEST SELF • This exercise involves thinking back to a time when you were at your best. Write: What were your doing ? Did you have a boss or you were self directed ? • If you had one year left to live how would you spend it ?

12. Why Creative Intuition?

13. MOTHER-IN-LAW: (not mine!)When you rearrange the letters:

14. WOMAN HITLER !!!!!!!!!!!!!!

15. Right Brain Project Ideation • Creativity and Project Ideation go hand in hand. • YOU ARE Invited to embrace your creative nature in the realm of Business • Your Gift of Imagination and Intuition will help you find fresh solutions to your Business challenges.

16. VIDEO • Video on Lincoln

17. Project Ideation • Allow yourself to Dream Big and Connect emotionally with your Vision/Mission & Passion. • Understand the relevant Business Landscape. ( See Business Landscape Play Sheet)

18. Scanning the Environment • Opportunities • Barriers • Trends ( Social, economic, technological Buzz) • Competitors • Customers • YourSelf ( Strengths & Challenges)

20. CASE STUDY OF IML

21. TIPS • Focus on Most relevant clues • Don’t believe in perfection • Trust your instincts • Make assumptions & Refine

22. Detective Bulletin Board • Articles about the Environment • Marketing Material of your competitors • Trends • Information about Markets • Information about Consumers ( Target Market)

26. Sources of New Opportunities • Burberry VIDEO

27. Sources of New Opportunities • Customer-route: When customer dissatisfaction is high; appropriate also when investment in technology development/application not yet made. E.g. Demand of Image Makeover for Men: Men’s apparel segment growing Check Video • Product-route: Appropriate when product or process developed and attractive application required. Ex. BMW – X1 ( low priced )

28. Sources of New Opportunities • Trends • Green Movement is becoming more commercial • Interest in comfort, travel and leisure Ex. Online Luxury Portals . Lagerfeld Launches Economy Fashion Line – Online Video.

29. Do you agree that basically we are…. And Any product/service that helps us achieve these needs have potential • Lazy • Pleasure seeking • Comfort seeking

30. Some places to track trends • Good Old Library • Google “ Guru” • Books, Mags, TV etc. • Ted.com, trendwatching.com • Industry magazines, Annual reports of competitors • Competitors are your “VIRTUAL MENTORS”

31. Competitors: VIRTUAL MENTORS

32. Detective Field work • Blogs, Social Media Sites • Website, Online stores, Price lists, • Product description, Service offerings • Blog comments, Testimonials • Networking, Meeting • Retailers, Expos, Training.

33. Creative Reflection • What themes do you notice ? • What is your target market ? • What are the competitor’s challenges ? • What issues are your potential customers concerned about ? • What new insights you have gained ?

34. Factors for Industry attractiveness • Market growth rate • Market size • Demand variability • Industry profitability • Industry rivalry • Global opportunities • Macro-environmental factors

35. Self-Opportunity Match • Previous Experience (knowledge, skills) • Problems (existing, emerging) • Self • Customer • Access to new knowledge, skills • Level of dissatisfaction (criticality, discontentment)

36. Financial Attractiveness Strategy (source, cost, availability, adequacy) • Solution to Customer • Dissatisfaction • Marketing Attractiveness Strategy (size, Entry, Sustenance) • Technical Attractiveness Strategy (Existing/new technology and products/services) • Entrepreneurial Capability Strategy (Attitude, Skills, Knowledge pool/network – individual/group)

37. Criteria in Selecting Ideas • Investment • Rate of return • Implementation • Market Size • Risk • Uniqueness • Expected Life • Flexibility • Environment considerations • Effectiveness Total Score on Each parameter ( 1 to 5 – Poor to Good)

38. Screening Ideas: Are they Opportunities?5 Questions • What important customer problem can you solve? • How are you going to do it? • How many customers are there that are willing to buy from you? • Why can only you provide the solution? • How can you defend against others? Ask these questions BEFORE somebody else does!

39. Screening an Opportunity:5 Questions • What important customer problem can you solve? How valuable? How painful? Remember, you need to change somebody’s behavior to buy your product.

40. Screening an Opportunity:5 Questions • How are you going to do it? Business model: Product Distribution Location Technology/Innovation Service Brand

41. Screening an Opportunity:5 Questions • How many customers are there that are willing to buy from you? How many customers are there? (Market size) How many will buy from you? (Market share) Who will be your first customer (besides your Mom)? Who will be your 100th?

42. Screening an Opportunity:5 Questions • Why can only you provide the solution? How are you unique? What do you provide that nobody else can?

43. Screening an Opportunity:5 Questions • How can you defend against others? Location, brand, patent (or other IP), great service, great taste, great fashion sense….

44. References • http://blog.euromonitor.com/luxury-goods/page/2/ • http://euromonitor.typepad.com/files/luxury-goods-overview-for-the-giveaway-v2.pdf

45. Individual Assignment related to End term • Market Trends Play sheet • Business Landscaping