Customer-Centric Innovation Strategies

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Questions and Answers

What is the main purpose of ideation in the current market conditions?

To create a competitive advantage through value-added ideas. (correct)

To eliminate online shopping as a business opportunity.

To reduce operational costs without any innovation.

To maintain traditional business models and practices.

Which element of generating an idea involves assessing personal abilities for potential business ventures?

Current events

Personal skill set (correct)

Product improvement

Invention

How did the COVID-19 pandemic influence online shopping trends?

It accelerated the transition to online selling for businesses. (correct)

It caused a complete shutdown of e-commerce platforms.

It eliminated interest in direct-to-consumer sales.

It diminished the need for digital presence in businesses.

What innovative solution did a TV manufacturer create based on a common consumer issue?

A remote-control finder button integrated into the TV. Signup and view all the answers

Which method of ideation is best for generating a high volume of creative ideas?

Brainstorming. Signup and view all the answers

What type of innovation involves combining existing products to create added value?

Product improvement. Signup and view all the answers

What role does a moderator play in the brainstorming process?

They encourage creativity and focus on solutions. Signup and view all the answers

Which of the following is NOT a part of the ideation process as described?

Elimination of unfeasible ideas. Signup and view all the answers

What is emphasized as essential for successful brainstorming?

Quality through quantity Signup and view all the answers

How should ideas be approached during a brainstorming session?

With a willingness to combine and adapt Signup and view all the answers

What is the primary purpose of the co-creation workshop?

To stimulate creativity and collaboration Signup and view all the answers

When is the Menu of Ideas most beneficial?

In project presentations and collaborative meetings Signup and view all the answers

What does the Decision Matrix facilitate in the brainstorming process?

Evaluating how ideas meet project criteria Signup and view all the answers

What is the suggested approach regarding criticism during brainstorming?

Criticism should be minimized to maintain creativity Signup and view all the answers

Which of the following statements reflects the importance of idea quantity in brainstorming?

Generating numerous ideas increases the likelihood of innovative solutions Signup and view all the answers

What is a core feature of combining and embellishing ideas during brainstorming?

All team members are encouraged to modify ideas collaboratively Signup and view all the answers

Study Notes

Ideation Overview

Current market conditions (COVID-19, e-commerce, digitalization) make innovation crucial.
Ideation is a tool for adding value to ideas, products, and services.
Online shopping increased, brick-and-mortar stores declined during the pandemic.
Companies must adapt with new business models and solutions.
Personal skills (like cooking) can be applied to generate business ventures.
Current events (like lockdowns) can reveal opportunities for businesses.
Identify market needs for product or service development.
Existing products can be improved by adding features, combining with others, or offering additional services.

Devising Customer-Centric Innovation

Four brainstorming methods:
Brainstorming: Used for generating a large volume of ideas, focusing on creative solutions, moderated sessions, prioritizing quality over quantity, refraining from judgment, and encouraging bold ideas.
Combining and Embellishing Ideas: Collaborative process where ideas are combined, adapted, transformed, and split into new ones.
Co-creation Workshop: Group activities for creative solutions, collaboration with experts, and addressing data & knowledge needs.
Menu of Ideas: Creates tangible ideas, for better visualization of decision making, used for project presentations or co-creation.
Decision Matrix: Listing similar ideas and criteria for evaluation.

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Description

This quiz explores innovative strategies that businesses can adopt in the current market conditions influenced by the COVID-19 pandemic. It delves into ideation methods, understanding market needs, and devising customer-centric innovations. Challenge your knowledge on how businesses can adapt and thrive during these transformative times.