Innovating in Existing Markets: Reviving Mature Products and Services


There is considerable buzz around disruptive, revolutionary innovation—we’re constantly told we need to do more of it, in every part of our business. But what do you do when you have an existing product in an existing market that is being challenged? How do you revive those products and restart growth? This new program is designed to help you innovate around your existing products to make them more compelling, useful, and valuable.

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Innovating in Existing Markets: Reviving Mature Products and Services
Certificate Track: Strategy and Innovation
Location: Cambridge, Massachusetts
Tuition: $4,300 (excluding accommodations)
Program Days (for ACE Credit) 2

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How do you innovate and improve existing products or services? If all you create is incremental improvements, you’ll quickly become a low-cost commodity. But revolutionary, disruptive innovation is often expensive, difficult, and prone to failure.

This program focuses on a third type of innovation that is neither incremental nor disruptive. It’s an approach that many successful companies such as USAA, Sherwin-Williams, LEGO, Victoria’s Secret, Novo Nordisk, Gatorade, and Logitech have used in mature markets to revive challenged products and boost growth. This low-risk, high-reward strategy is an approach to innovation that all company leaders should understand so that they can recognize it when their competitors practice it and apply it when it will give them a competitive advantage. The program combines this “Third Way” innovation framework with Sloan’s Three Perspectives on Organizational Change framework to generate implementation plans for the solutions you create.

Through lectures, case studies, hands-on activities, and conversations with senior practitioners, you’ll learn a set of tried-and-true tools and techniques for mastering this approach to innovation. You’ll also learn an innovative new method for prototyping those solutions using Lego Serious Play, a hands-on technique for generating creative solutions to organizational challenges.

This program is designed for executives and senior managers with leadership responsibility as well as teams.


Innovating Around the Box: The Power of Little Ideas with David Robertson

Managers today are constantly told they need to do more than just incrementally improve current products for current customers - that to excel, they need to disrupt themselves before someone else does. But there's a third way to innovate that's not incremental improvement nor revolutionary disruption. In this webcast, David Robertson, Senior Lecturer at MIT Sloan, will talk about this approach using examples and key elements from his new book, "The Power of Little Ideas: A Low-Risk, High-Reward Approach to Innovation."