Scribd Logo
Upload

Welcome to Scribd!

  • Opportunity Recognition (ICB2) : A Mental Process To Evaluate Value of An Idea For Its Current or Potential Customer

    Uploaded by

    SRIJAN GARODIA 2123545
    6 views8 pages
    Opportunity recognition is the mental process of evaluating the value of an idea for current or potential customers. It is an unfolding process, as recognized opportunities may initially seem small but have large potential, as seen with inventions by Motorola and 3M. A buyer utility map indicates the likelihood customers will be attracted to a new idea, helping innovators consider how to deliver utility to customers at different stages of the buyer experience cycle. To use the map, an idea is mapped to where it provides utility, then its position versus competition is evaluated based on which utility is biggest and most important to customers, and how the product could be redesigned to offer greatest utility. A rough cut evaluation qualitatively assesses an idea based on strategic fit

    Original Description:

    Original Title

    Untitled

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Opportunity recognition is the mental process of evaluating the value of an idea for current or potential customers. It is an unfolding process, as recognized opportunities may initially seem small but have large potential, as seen with inventions by Motorola and 3M. A buyer utility map indicates the likelihood customers will be attracted to a new idea, helping innovators consider how to deliver utility to customers at different stages of the buyer experience cycle. To use the map, an idea is mapped to where it provides utility, then its position versus competition is evaluated based on which utility is biggest and most important to customers, and how the product could be redesigned to offer greatest utility. A rough cut evaluation qualitatively assesses an idea based on strategic fit

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views8 pages

    Opportunity Recognition (ICB2) : A Mental Process To Evaluate Value of An Idea For Its Current or Potential Customer

    Uploaded by

    SRIJAN GARODIA 2123545
    Opportunity recognition is the mental process of evaluating the value of an idea for current or potential customers. It is an unfolding process, as recognized opportunities may initially seem small but have large potential, as seen with inventions by Motorola and 3M. A buyer utility map indicates the likelihood customers will be attracted to a new idea, helping innovators consider how to deliver utility to customers at different stages of the buyer experience cycle. To use the map, an idea is mapped to where it provides utility, then its position versus competition is evaluated based on which utility is biggest and most important to customers, and how the product could be redesigned to offer greatest utility. A rough cut evaluation qualitatively assesses an idea based on strategic fit

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 8

    Opportunity Recognition (ICB2)

    A mental process to evaluate value of


    an idea for its current or potential
    customer
    Is every idea a business opportunity? (ICB2)

    Motorola and 3M
    • Recognized opportunity can be small in
    comparison to the invention’s potential
    • It is an unfolding process

    Marconi invention of wireless telegraphy


    Method
    of
    Opportunity Recognition
    Buyer Utility Map
    Indicates the likelihood that the customers will be
    attracted to a new idea or a product.

    It helps innovators to think about two dimensions:


    1. The levers they can pull in delivering utility to customers
    2. The various stages in ‘buyer experience cycle’

    The map helps in identifying the utility offered by various


    products or service at various stages of buyer experience
    cycle
    How to use Buyer utility map?
    • First map your idea in different quadrant where it can
    provide utility
    Evaluate different utilities on the basis of:
    1. Which one is the biggest utility? Does your idea fit in that
    utility?
    2. What is your position relative to competition in that utility?
    3. Which utility matters most to the customer
    4. How the product can be redesigned in order to offer
    greatest utility to customers in the areas that matters most
    to them?
    Rough cut evaluation
    • Qualitative evaluation of idea

    Evaluate from three perspectives:

    1. Strategic fit
    2. Technical competencies
    3. Business competencies

    You might also like