IDEA GENERATION AND IDEA SCREENING

GROUP MEMBERS

RITESH NAIR MBAAVI014004

SHIVKUMAR VISHWAKARMA MBACORE014166

CONTENTS

What does Idea Means ?

Components of Idea

Idea Generation

How are Ideas shaped ?

Idea Shaping Tools

Idea Screening

The question to look for ?

Risk in screening

Screening Options

Conclusion

WHAT DOES IDEA MEANS ?

“Idea is Before any copy is written or artwork began”.

• This process is called conceptualization.

• According to Bernbach, “The idea often emerges from the intangible , indefinable

intuition that reaches out towards what is new”.

COMPONENTS OF A GREAT IDEA

Demand People must want it

€conomics It must make a profit

Qualified

Plan

For sustainability

IDEA GENERATION

“Think openly and let your imagination ruin yourself”.

Idea generation is knowledgeable, creative and systematic. It develops from

knowledge of the consumer, the market, the technology and the general environment,

and it creates newness in product, production and marketing.

HOW ARE IDEAS SHAPED?

There are number of methods by which we can get ‘big idea’:

1. Chance encounter: A creative writer, while studying the project or brief, can

suddenly get an inspiration and hit upon the idea. For example: For a beer

company, a copywriter insisted that he wanted to see the process on the shop floor.

While on the floor he saw that before the beer is filled into bottles, each bottle was

vacuum-cleaned. And he hit on this ‘big idea’. The campaign said, ‘Our bottels are

vacuum cleaned’.

IDEA SHAPING TOOLS

The company was first to exploit idea, although vacuum cleaning is the mandatory

process for all companies.

2. Competitor’s Advertising Appeal: Many times, the brand was in the marketplace

give rise to ideas that could be rejoinders to a competitor’s advertisement. For

example: Coke’s punch line

“ Coke, the official drink” was coke’s slogan for WILLS WORLD CUP cricket series in

1996; whereas Pepsi’s slogan “ Nothing official about it, Enjoy Pepsi”.

IDEA SHAPING TOOLS

3. Brainstorming :- Brainstorming is a group or individual creativity technique by

which efforts are made to find a conclusion for a specific problem by gathering a list

of ideas spontaneously contributed by its member.

• It is introduced in 1989 by Osborn, an advertising professional working in

advertising agency. The technique is now widely used by the corporate, the govt. and

armed forces.

EXAMPLE: FORMULA TOOTHPASTE

EXAMPLE: BERGER PAINT

IDEA SCREENING

It is a process which is used to evaluate innovative product ideas, strategies and

marketing trends.

Idea screening criteria are used to determine compatibility with overall business

objectives and whether the idea would offer a viable ROI.

The main objective of Idea screening is to eliminate unsound concepts prior to

devoting resources to them.

THE QUESTION TO LOOK FOR ?

Will the customer in the target market benefit from the product?

What is the size and growth forecasts of the market segment/ target market?

What are the industry sales and market trends the product idea is based on?

Is it technically feasible to manufacture the product?

Will the product be profitable at the target price?

RISK IN SCREENING

Dropping ideas too early means missed opportunities.

Developing the ‘wrong’ ideas means wasted resources, in terms of time and financial

investment, and may put the activities in your current portfolio at risk.

SCREENING OPTIONS

OPTION 1

Give the attributes an important score from 1-10 (10=most important)

Rate each idea from 1-10 (10=good score)

The ideas with the highest scores are chosen.

SCREENING OPTIONS

OPTION 2

Define outcomes and rate them for profitability and importance.

Give each idea a score on probability for the outcome, and importance if it happens.

The ideas with the highest scores are selected.

CONCLUSION

Idea generation is knowledgeable, creative and systematic. It develops from

knowledge of the consumer, the market, the technology and the general

environment, and it creates newness in product, production and marketing. It

systematically develops product ideas to satisfy the aim of the project and therefore

the business strategy.

In screening, the many ideas are reduced to smaller numbers and eventually to the

one product concept, prototype product, processing method and advertising plan.

The screening begins qualitatively and gradually develops, as more information is

obtained, to a quantitative evaluation of the predicted outcomes for the product,

production, market and finance