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|Description / paper instructions
Follow the PPT example do one page Root Cause Analysis and Customer Profiles
Now that your team has decided on your one idea and has worked on identifying three customer problems/ pains, your assignment focuses on doing:
CONFIRM YOUR COMPANY NAME FOR YOUR INNOVATION (You could still change later if necessary but at this point we need one working company name to use for each Team):
(1) Root cause analysis, consulting chapter (4), diagramming several levels of “asking questions” to get to root causes of problems/ pains
(2) Customer profiles/ types—use your root causes toward identifying 3 types of your customers and explaining briefly (in about 1 sentence or more if you would like) about each customer type—TEAMS started thinking about “who are your customers” in the previous assignment and now each team should aim toward even greater specificity and definition of the customer segments.
(3) Each Team Create 3 Detailed Customer Profiles with detailed information similar to the example shown in class + PLEASE BE SURE TO INCLUDE A PHOTO OR IMAGE WITH EACH CUSTOMER PROFILE
Each customer profile should be one page or one PPTX slide + photo for a total of 3 PPTX slides in one document PPTX format file.
Upload the completed total document one per team to our course blackboard.
The example can be found in Lecture 4 slides under “Lectures” and also here are the guidelines:
Example Customer Profile for Your Team Innovation
• Buyer Persona:
• Innovation Profile: (e.g. Adventurous early adopter, Technologically adept user, Later adopter, etc)
• Aspirations: (What is a one-sentence statement of the personal goals and objectives of this customer—see example)
• Professional experience:
• Yearly Income:
Q: What are three ideas for new products, services or business models for your team project? What type of industries do your ideas relate to?
(1): Free Copy/Printing Kiosk – Advertising Industry
Flyers are always being posted on wire poles, bulletin boards or walls so they are designed to be printed on one side. This results in paper wasting and influences the flowability of information printed on the flyers. We want to start a free copy/printing kiosk to allow customers printing without paying but have to accept ads being printed on the back of their less important documents. By doing so, for advertisers, their ads will be seen by more people, and the forest resources will be preserved by saving paper. For customers they will save money on printing less important documents. Of course, the advertiser will pay for the printed works – with spending their every penny in a more proficient, accurate and environment friendly way.
Q:Narrowing down to one main idea for your Team Innovation Project and beginning to build on that idea:
Idea you have selected and brief description
Uncertainty: demand, technological, and environmental
Problems to be solved/ Pains/ Job-To-Be-Done • Adopt a customer-centered orientation
(1) What is your one idea selected for your team innovation project?
We would like to select the Free Copy and Printing corporation as our innovation project, which is designed aiming at improving the environment protection activities and increase the liquidity of printed ads. Also, at the same time we could save money for customers.
(2) What are three customer “problems” or “pains” that your innovation idea addresses?
In most cases, traditional advertisers will print their ads on one side of one sheet of paper and leave the other side blank for pasting purpose. Printed ads are usually being posted on a wire pole, a bulletin, or even just being left on a public table (see pictures below). By doing so, the information on the ads are restricted to stand in one place, waiting people for reading. The efficiency of passing the useful commercial information is relatively low. In other words, the inefficient liquidity for passing the information is the pain for advertisers. At the same time, some people such as high school or college students who have significant needs for printing reading materials, or less important documents, spent quite a fortune on printing during their studies and research period. Most of them are not making money. Although it is not expensive printing for a single page, it is still quite a lot of money cumulatively for a substantial period of time. This is the second problem we would like to address – providing free copy and printing service to those who have littleor even zero income. Last but not least, during this process, paper will be used in the utmost way. It will preserve tons of woods and making our planet a better place.
(3) Who are your customers?
Our main customers are advertisers who want their ads being more efficiently spread, and people who needs to print for free. This business model includes both B2B and B2C.
(4) What are the demand-technological-and-environmental uncertainty factors for your innovation?
The biggest uncertainty for this business model is how to persuade the advertisers to invest in this project, because this method could increase their cost on ads by times. The difficult part is to let them know along with the spread ranges enlarges, the potential customers who will probably see the ads are increasing exponential at the same time.
(5) What are your preliminary ideas for your company name and logo?
Our preliminary ideas company name is Flip It. This name comes from the idea of double using the paper as much as possible. Our logo is designed as indicated in the picture below.