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Ideas
Unlike invention which is radical and revolutionary, innovation is incremental and evolutionary Innovative ideas of new products and services have often originated at unexpected places banks did not come out with credit cards Entrepreneurs are innovators, not necessarily opportunists People have innovated for scores of reasons, the notable are:
To face competition To survive To stand out in a clutter To solve major problems
Idea Generation
Evaluation
Growth and stability Marketability Company position and production
Service Development
Service idea is analyzed at four levels: Customer benefit concept (expectation and the perceived benefit) Service concept (bundle of benefits to the customer and its relative importance to him)
General service concept Specific service concept
Service offer (giving detailed shape to the service concept) Delivery systems (people, equipment, processes, facilities, interface, time, controls)