Customer-Centric Innovation: Generating Business Ideas

An intermediate-level course by RWTHx

Course Description

"Customer-Centric Innovation: Generating Business Ideas" is an intermediate-level course offered by RWTHx, focusing on the essential skills needed to manage innovation successfully. This comprehensive course delves into the critical first stages of an innovation project, often referred to as the "fuzzy" frontend. You'll learn how to structure the innovation process, generate customer-centric business ideas, and develop innovative concepts that address your customers' needs effectively.

What You'll Learn

  • The nature of successful innovation processes
  • Management techniques for the "fuzzy" Frontend of Innovation
  • Methods to transfer trends and insights into your business
  • Techniques to understand customers' latent needs and wants
  • Key concepts for generating customer-centric business ideas
  • Strategies for structuring and managing innovation projects
  • Important methods of Trend Analysis and Opportunity Recognition
  • Techniques for gaining crucial Market Insights
  • Co-Creation activities for idea generation
  • Evaluation methods based on concept testing and rapid experimentation

Prerequisites

While there are no mandatory prerequisites, successful completion of the course "Managing Disruptive Change" (MTI001x) is beneficial.

Course Content

  • Structuring the Innovation Process & The Frontend of Innovation
  • Starting an Innovation Project
  • Market Insights, Co-Creation & Evaluation methods
  • Real-life case studies and examples from companies
  • Individual and group exercises to deepen understanding

Who This Course Is For

This course is ideal for professionals in various roles, including:

  • Product Managers
  • Engineers
  • Process Managers
  • Marketing Managers
  • Consultants
  • Entrepreneurs

It's also suitable for individuals working in industries such as Product Management, Engineering, Innovation Management, and Customer Relationship Management.

Real-World Applications

Learners will be able to:

  • Implement structured approaches to innovation in their organizations
  • Identify and capitalize on market trends and opportunities
  • Develop customer-centric products and services
  • Improve decision-making in the early stages of innovation projects
  • Conduct effective market research and concept testing
  • Engage in successful co-creation activities with customers and stakeholders
  • Evaluate and refine innovative concepts more efficiently

Syllabus

I. Structuring the Innovation Process & The Frontend of Innovation

  • Different perspectives on structuring the innovation process
  • Managing the "fuzzy" Frontend of Innovation
  • Methods of Trend Analysis and Opportunity Recognition

II. Starting an Innovation Project

  • The Strategy Phase
  • Successfully initiating an innovation project

III. Market Insights, Co-Creation & Evaluation methods

  • Key methods for gaining Market Insights
  • Engaging in Co-Creation activities for idea generation
  • Evaluating concepts through customer testing and rapid experimentation

Throughout the course, students will engage in online lectures, individual and group exercises, and real-life case studies to reinforce their learning and prepare for real-world applications.

This course is part of the "Managing Technology & Innovation: How to deal with disruptive change" MicroMasters program. To earn the MicroMasters Credential, learners must obtain a Verified Certificate in each of the six courses in the RWTHx MicroMasters program.