Dr. Vishal Chavan Associate Professor Sanjivani Rural Education Society College of Engineering and MBA Background – Human Civilization What is life? Uncertainty or Certainty
What is lifestyle? Answer- Maslow’s Hierarchy
needs
What we value in life- we pay for it and marketers strive
to create value by bringing new solution i.e. Product, Services-experiences and Processes to our life or lifestyle Background – Major early Inventions Background – Invention Timeline Invention- Innovation and Discovery
• Invention: the action of inventing something – Light bulb by _____
Car___ Aero plane_____
• Innovation: Innovation is the practical implementation of ideas that
result in the introduction of new goods or services or improvement in offering goods or services. Smart Lighting____ Tesla____ Multi mode Car (road, air and water)
• Discovery: the act of finding something for the first time
Background
• Occasionally, a new way of organizing work leads to extraordinary
improvements. • Total quality management- 1980 kanban cards, quality circles, and so on – social technology • Just in Time -1970 Toyota • Six Sigma (6σ) – Bill Smit 1986 – Motorola • Kaizen – 1986- Masaaki Imai from Japan Types of Innovation
• Process Innovation – Minimizing TAT • Marketing Innovation – adding more value (extended p’s) • Business Model Innovation - Dell • Open Innovation – CRM, Competitions etc • Close Innovation – RnD, Defense Projects etc • Radical Innovation – Blue ocean strategy • Incremental Innovation – Read ocean or purple ocean strategy Why these terminologies important in delivering value to stakeholders
• Value- Product, Services, Process
• Co-creation through CRM • From Down stream to Upstream (from RnD, Factory to Market- Customer) • All this need Creative Thinking, Critical Thinking, Design Thinking and Innovation Design Design Thinking • Design thinking is a process for solving problems by prioritizing the consumer's needs above all else. It relies on observing, with empathy, how people interact with their environments, and employs an iterative, hands- on approach to creating innovative solutions. • Tim Brown coined the word that became a buzzword. ... Design thinking is created because big corporation lack the ability to be creative and on extreme cases, aren't able to create new products and services that meet unmet needs of their customers. Design Thinking Design Thinking Creative Thinking, Critical Thinking and Design Thinking for Innovation
• Creative Thinking: Creative thinking refers to using abilities and
soft skills to come up with new solutions to problems. Creative thinking skills are techniques used to look at the issue from different and creative angles, using the right tools to assess it and develop a plan. Critical Thinking • Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action. Design Innovation • Design Innovation, as you can infer, is a process used to create innovation. It focuses on addressing people's needs with what is technologically feasible and devising a viable business strategy to derive value from this market opportunity. Design Thinking Design Thinking Design Thinking