“If I had asked my customers what they wanted, they would have said faster horses.” (Henry Ford)
Traditionally, companies use methods such as focus groups or brainstorming to come up with new product ideas. In reality, however, these methods don’t work very well when we’re looking for new blockbuster products. Incremental innovations perhaps, but not truly unique products that people don’t even realise they want until they have them.
Traditional market research doesn’t help either. Most companies conduct market research to gain insights into their customers and their needs. However, most market research doesn't achieve this aim, and in fact can lead to dangerous conclusions. To create a new blockbuster product, a different approach is required.
A different approach
In this talk, we explore some new methods which attack the challenge from an unusual angle. For example, working with the product itself as the source for inspiration. And we show that generating new product ideas need not be assigned to the “creative people” – by applying a specific and objective framework, even left-brained, analytical people can come up with ideas for new blockbuster products. The approach is both practical and effective.