oct 30, 2008copyright © 2008 excelsior bonifico company from invention to start-up product...
TRANSCRIPT
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
From Invention to Start-Up
“Product Positioning”
October 30, 2008
James Robarts
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
James O. Robarts
30 yrs – technologist & entrepreneur16 yrs – patented inventor11 yrs – consulting IP strategist 7 yrs – teacher IP management 6 yrs – current startup, location-enabled games for mobile
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
“Product Positioning…
…is the term used to distinguish one product from its competitors in the market.
Step one in the process is a basic assessment of what you have: • Is this a feature for an existing technology or a separate
product that could generate a platform of products? • Is it a technology that you could license to an existing
company or does it have the potential to become a start-up that dominates a market?”
– today’s topic description
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Basic Assessment
A grid that relates• Target market – Business Development• Technical innovation – Scientists & Engineers• Patent rights – Attorneys
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
“Product Positioning…
…is the term used to distinguish one product from its competitors in the market.
Step one in the process is a basic assessment of what you have: • Is this a feature for an existing technology or a separate
product that could generate a platform of products? • Is it a technology that you could license to an existing
company or does it have the potential to become a start-up that dominates a market?”
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Technology
Technology mechanical, chemical, electrical, nuclear, algorithmic components & processes
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
“Product Positioning…
…is the term used to distinguish one product from its competitors in the market.
Step one in the process is a basic assessment of what you have: • Is this a feature for an existing technology or a separate
product that could generate a platform of products? • Is it a technology that you could license to an existing
company or does it have the potential to become a start-up that dominates a market?”
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Feature – Function – Tech
Definition
Feature User experience, usually associated with specific task or experience
Function Collection of technologies used to solve a customer problem
Technology …mechanical, chemical, electrical, nuclear, algorithmic components & processes
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Feature – Function – Tech
Definition Value-generating Mechanism
Feature User experience, usually associated with specific task or experience
What does the product do, that the user recognizes as beneficial?
Function Collection of technologies used to solve a customer problem
Conceptually, how does the technology provide the feature?
Technology …mechanical, chemical, electrical, nuclear, algorithmic components & processes
Precisely, how is the function accomplished?
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
“Product Positioning…
…is the term used to distinguish one product from its competitors in the market.
Step one in the process is a basic assessment of what you have: • Is this a feature for an existing technology or a separate
product that could generate a platform of products? • Is it a technology that you could license to an existing
company or does it have the potential to become a start-up that dominates a market?”
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Product – Feature – Function – Tech
Product Package of features, functions, and messages
How does the product provide benefit?
Feature User experience, usually associated with specific task or experience
How does the product provide benefit?
Function Collection of technologies used to solve a problem
Conceptually, how does technology provide the feature?
Technology mechanical, chemical, electrical, nuclear, algorithmic components & processes
Precisely, how is the function accomplished?
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
“Product Positioning…
…is the term used to distinguish one product from its competitors in the market.
Step one in the process is a basic assessment of what you have: • Is this a feature for an existing technology or a separate
product that could generate a platform of products? • Is it a technology that you could license to an existing
company or does it have the potential to become a start-up that dominates a market?”
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Benefit – Feature – Function – Tech
Benefit Why buy product?
What is the marketing message?
Customer expectations
Feature User experience How does the product provide benefit?
Function Collection of technologies used to solve a problem
Conceptually, how does product provide the feature?
Technology mechanical, chemical, electrical, nuclear, algorithmic components & processes
Precisely, how is the function accomplished?
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Perceivable Benefits
The most valuable technologies have clear customer-perceivable sources of value• Benefits that can be articulated in customer messages• Customer experience when using distinguishing features
Correlate these with the underlying technology
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Sources of Value
For each target market and customer perspective (purchaser vs. user)What are the benefits?
Comfort (physical, psychological)SafetyHealthCost (purchase, use, maintenance)ConvenienceSpeedAccuracySocial statusFailure mitigationRisk reduction or sharingEase of Use, LearnabilityAesthetics
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Mazda Example
Benefit “Zoom Zoom!”
Feature Rapid Acceleration
Function Lighter chassis Reduced weight & friction
Technology Improved stress modeling Integrated oil pump & cam shaft
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
“Product Positioning…
…is the term used to distinguish one product from its competitors in the market.
Step one in the process is a basic assessment of what you have: • Is this a feature for an existing technology or a separate
product that could generate a platform of products? • Is it a technology that you could license to an existing
company or does it have the potential to become a start-up that dominates a market?”
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Benefit – Feature – Function – Tech – Rights
Benefit Why buy product?
What is the marketing message?
“Zoom Zoom!”
Feature User experience Rapid Acceleration
Function Collection of technologies used to solve a problem
Lighter chassis
Technology mechanical, chemical, electrical, nuclear, algorithmic components & processes
Improved stress modeling
Rights Which claims cover the tech?
Patent application XXX, claim #’s
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
So Which Is It?
“Is this a feature for an existing technology or a separate product that could generate a platform of products?”
“Is it a technology that you could license to an existing company or does it have the potential to become a start-up that dominates a market?”
With our new layered innovation manifestation model we can relate specific technologies and their associated rights to benefits (and valuations) for each product configuration, for each target market.
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
Levels of Innovation Manifestation
Benefits – why buy product? Features – what does it do? (customer) Functions – what does it do? (technically) Technologies – how does it do it? Rights – what do patent claims reserve?
Oct 30, 2008 Copyright © 2008 Excelsior Bonifico Company
From Invention to Start-Up
“Product Positioning”October 30, 2008
James Robarts