Technological Innovation and Leadership – The Guide to Successful Innovations. An Overview of ‘Generic Benefits’
Well, its been a long series – and its hard to keep track with everything so I’ve decided to refresh your memory and increase take back. This post will try and cover the macro generic benefits and the 8 major generic benefits that they lead to. This will also give you links to relevant topics that you may be interested in if you haven’t read them already or if you may be looking to refresh your mind.
So the three Macro ‘Generic Benefits’ are:
1) Freedom of Choice – Create your own, choices will be infintite
2) Conservation of Resources – The brand will have to do all the “thinking”, make it easier for customers to try and use products is the key trend
3) Help – Adoption of an innovation is the key to market success, the final nail in the coffin!
These 3 Macro ‘Generic Benefits’ further lead to Other Benefits Benefits:
i) Customization – Customers want to have exactly what they want, and brands will have to provide that. The key is to create an interface where customers can self customize and yet look cool.
ii) Convenience – One product, additional functionality. The Convergence wave. There will be specialists, but the specialists MUST generalize as well,
iii) Participation – Involve customers to “work” with the firm and also participate with other customers. Both are essential.
iv) Anticipation – Read the minds of customers and read them well. Research and insight as always are key.
v) Compatibility – Make a new innovation work with the customers existing behaviour and skill set – and also the existing products he owns.
vi) Ease of Use – Make it easy to use the product and make it easy for the customers to create a relationship with the brand.
vii) Ease of Trial – Let the customer “test drive”
viii) Observability of Benefits – Let the customer interact with the brand in an insightful way before he takes a decision. Or generate social acceptance and a buzz through social media marketing.
Hope that helped in Generating an Overview.
Here are the Links to the Other Parts in the Series:
I have enjoyed this series greatly. It’s been rewarding in terms of perspective and insights. I hope some of you can share some of your insights!
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