Synopsis of an article from Visual Capitalist by Jeff Desjardins Published 1st July 2020
This article is built around an excellent infographic built on years of in depth research from innovation firm Doblin (owned by Deloitte). They have observed that there are 10 types of innovation that can be categorised with specific dimensions, which can then be used to analyse competition and test for product vulnerability using their strategic framework.
10 Types of Innovation
- Profit Model – How you make money
- Network – Connections with others to create value
- Structure – Alignment of your talent and assets
- Process – Signature of superior methods for doing your work
- Product Performance – Distinguishing features and functionality
- Product System – Complementary Products and Services
- Service – Support and enhancements that surround your offerings
- Channel – How your offerings are delivered to customers and users
- Brand – Representation of your offerings and business
- Customer Engagement – Distinctive interactions you foster
The Doblin model groups the first 4 categories up into configuration of the company and all the non customer facing aspects of the business.
The Product Performance #5 and Product System #6 are grouped into the offering category, which is about making improvements to the product.
The rest of the list above are grouped into the experience category and are directly related to how your customers interact with you.
There are some more great infographics explaining these models so do go ahead and check out the Visual Capitalist site
Visual Capitalist Article
Doblin Ten Types of Innovation – Tactics Overview