How to identify product needs and gaps Dr. Jim Hershauer

james.hershauer@asu.edu

1 16 2008

Strategy Choices

• What Business Are We In?

• Who Is the Primary Customer?

• What Are Limited Resources?

• What is Our Specialty/Strength?

• What Processes Do We Excel At?

• What Partnerships Make Sense?

james.hershauer@asu.edu

1 16 2008

Entrepreneurship

A process of applying innovation to meet an opportunity in the marketplace james.hershauer@asu.edu

1 16 2008

What is the nature of the marketplace?

• Markets – Global – Unpredictable • Competitors – Changing – Unforeseen • Customers – Changing – Reach & Richness of Information

james.hershauer@asu.edu

1 16 2008

What is the Process?

1. Observation

& documentation

2. Idea generation

& screening 3. Evaluation of product/service bundles

4. Innovative

technology or

business model 5. Prototype

& business plan 6. Implementation strategies &

metrics

7. Commit resources &

create value

8. Execute tactics & operations to

capture value

james.hershauer@asu.edu

1 16 2008

Choosing a Value Discipline

Treacy & Wiersema • Process Excellence • Market Leadership • Customer Intimacy And now a fourth alternative?

• Environmental Innovation

james.hershauer@asu.edu

1 16 2008

Value Proposition

• Speed Benefits • Quality Benefits • Flexibility Benefits • Environmental Benefits • Costs james.hershauer@asu.edu

1 16 2008

Environmental Benefits • Award of contracts • Coverage by insurance companies • Receipt of financial needs • Stock prices and stockholder satisfaction • Market order qualifier • Consumer perceptions – order winner • Contribution to future • Product/service bundle life-cycle benefits

james.hershauer@asu.edu

1 16 2008

Esty and Winston www.eco-advantage.com

• Eco-efficiency • Value chain eco-efficiency • Eco-risk control • Eco-design • Eco-sales and marketing • Eco-defined new market space • Intangible value james.hershauer@asu.edu

1 16 2008

Mindset Principles

• Systems thinking on net value-added • Do the right thing • Meet customer needs and environmental goals • Understand stakeholders’ feelings • Leader commitment james.hershauer@asu.edu

1 16 2008

Eco-tracking Tools

• Life cycle assessment (LCA) • Metrics • Trace footprint • Product/service delivery and use • Materials database • Management systems (ISO 14000) • Partnering (including NGOs and communities) • Supply chain models james.hershauer@asu.edu

1 16 2008

Design Tools

• • • • • • • • • • • • • DfE (Design for Environment) AUDIO (aspects, upstream, downstream, issues, opportunities) p. 62 Stakeholder analysis p. 97 LEED (Leadership in Energy and Environmental Design) LOHAS (Lifestyle of Health and Sustainability) Closed loop models Supply chain audits EPA guides EPEAT and other industry standards Mayors and University Presidents initiatives NGOs and other rating systems Eco-labeling The Equator Principles james.hershauer@asu.edu

1 16 2008