Products & Services Module

Products & Services Module

When most people talk about “innovation,” they’re really referring to Products & Services Innovation. This type of innovation focuses on Creating Game-Changing Offers that will win market share and unleash an avalanche of profits.

This track of Innovation@Work 3.0, like the Business Process Innovation and the Sales & Marketing In­novation tracks that follow, can be used by your team as a stand-alone course in a specific area of innova­tion.  However, to gain the full benefit of the synergies among the various tracks, we suggest that, wherever possible, you use it within the context of business model innovation that we’ve developed over the three previous tracks.

If you have already designed a “to be” business model using Track 3, you will find it easier to innovate because you will understand your organization’s Customer Segments, Value Propositions, and strategic business context much better than someone who has not been through this process.

If you are following the Innovation@Work 3.0 process sequentially, you’ve either validated your existing “as is” business model at this point, or you’ve designed a new “to be” business model.  In either case, the goal of Products & Services Innovation is to enhance your business model’s Value Proposition.

As discussed earlier, the Value Propositions building block of a business model focuses on the products and services that the company offers in order to create value for a Customer Segment.  The Value Proposition is the reason why customers buy from one company instead of another.

The key to Products and Services Innovation is creating offers that help each of your most profitable Cus­tomer Segments get their most important “jobs” done.  The concept of the “Job To Be Done,” or JTBD, is explained more fully in the Marketing Innovation track.  Note that a JTBD is not a product or a service; nor is it a solution.  It’s the reason why customers buy products, services, and solutions.