Creating & Marketing Innovation: From Concept to Commercialisation

Synopsis

It is becoming increasingly obvious that innovation is the key to business success in the knowledge economy. The ever-increasing rate of technological change is resulting in shorter and shorter product cycles, which drives companies toward continuous innovation. But innovation is not something that just happens on its own. It requires special expertise, work practices and methodologies that are yet to be widely adopted. Generating the next new ideas is difficult enough, but then choosing the ideas that are most likely to succeed in the marketplace is also extremely challenging. Once the most promising ideas have been identified, the process of commercializing those ideas is fraught with decisions, risks and pitfalls that will help to determine the success or failure of new technologies. 
A key to the successful commercialization of innovations is in how the new innovations are marketed.  In innovation-driven economy, marketing cannot be left only to the marketing department. Everyone in the organization must have a market focus in order to successfully align the company and its products with the needs of the marketplace. 

When most people think of marketing, they think in terms of the four Ps (product, price, promotion, and place). To create sustainable competitive advantage, marketing must integrate market analysis, strategic marketing, marketing mix decisions, and marketing implementation into the overall market plan.

Objectives

Participants will be introduced to the world of high-tech marketing, and how to successfully bring disruptive technology products to market. They will also learn state-of-art lateral marketing techniques and processes, increasingly critical to bring innovative products and services to market.
In this workshop, participants will learn how to:

• Generate innovations
• Evaluate innovations
• Commercialize innovation
• Manage the risks in commercializing innovation
• Marketing innovations

Course Outline

• Understanding change
• Developing innovative products
• Creating great products and services
• Creating an innovation culture
• Identifying and evaluating new ideas
• Using trends and mega trends for idea generation
• Managing risks in innovation
• The commercialization process
• Developing and implementing a marketing strategy
• Selecting target markets and customers
• Developing a product that suits customer's needs
• Conveying a product’s value proposition to customers
• Positioning and differentiating one's products and services from the competition
• Understanding the nature of technological discontinuities and their impact on markets

Strategy for converting new technologies into the mainstream market products

Methodology

This workshop combines practical experience, expertise, real world examples, state-of-the-art theory, experiential exercises and case studies.

Prerequisites

Eg. have prior knowledge of the topic / bring laptop or calculator.