The athletic footwear market is maturing, so it will need sustained innovation to keep growing. "Performance footwear" emerged with the ancient Greeks and has since grown to a $50 billion global industry. Innovations such as vulcanized rubber, high tops, arch support, specialized functions, endorsements, and branding have kept the industry vibrant and growing, especially for the dominant three players: Nike, Adidas, and Reebok. Now it's crunch time!
For this month's LAB, we will use the corporate innovation method, S.I.T., to create new athletic shoe concepts. The method works by taking one of the five patterns (subtraction, task unification, division, multiplication, and attribute dependency) and applying it to an existing product or service. This morphs it into a "virtual product," which is an abstract, ambiguous notion with no clear purpose. We then work backwards (Function Follows Form) to find new and useful benefits or markets for the virtual product.
Here are five innovations created by graduate students at the University of Cincinnati as part of their graded requirements in the innovation tools course.
How does a company cope with change? It’s a question that looms large for many executives who are struggling to keep up with the breakneck pace of business. Those who fail to answer it may face loss of market share, or, in extreme cases, financial ruin. All too often, companies respond to these pressures by fixating on the future, not realizing that their greatest strength could be hidden in their past.