Example 1: Large strategic innovation project

COMPANY

Philips DAP (Domestic Appliances), Groningen, Netherlands

LINE OF BUSINESS

Male Grooming in area of Beard Trimming

PROJECT TARGET

Clear differentiation and accordingly breakthrough in the market with innovative solutions and based on customer needs

OUTCOME

1. Product: Innovative breakthrough in the existing market (collection of cut hair) – vacuum beard trimmer

2. Product: completely new product – precision trimmer for trendy beards

3. Product: for global market in the low price segment – multi-purpose device

FINANCIAL OUTCOME

Turnover €150+ Million only for the first product (Vacuum Bard Trimmer) in first generation

PROJECT IMPLEMENTED IN TIMELINE

Dec. 2000 till July 2001 (up to the principle and business decision)

METHOD

Structured Idea Management