Innovation in Practice Blog

September 15, 2020

Process Innovation: Unlocking New Value in What You Do Everyday

The Systematic Inventive Thinking or SIT method is not only applicable to products, it’s also highly valuable in innovating services and processes.  Here are two ways […]
September 8, 2020

Innovation Dream Teams: The Secret Formula to Drive Team Success

When you’re talking about innovation, a traditional brainstorming approach doesn’t work. If you want to generate better ideas, you have to be able to create your […]
September 1, 2020

Why People Resist Our Innovative Ideas and How To Overcome It

With innovation comes resistance. They define each other. An idea simply cannot be innovative unless it’s met with resistance. Because of this, we should see resistance […]
August 25, 2020

How to Use the Closed World Principle of Creativity

Creative thinking can be systematic and routine. All you have to do is learn how to use your brain and learn a new way to generate […]
August 18, 2020

Divide and Conquer – How to Use the Division Technique

A common misconception is that creativity is a gift you are born with. People believe that if they don’t have it right from birth, they have […]
August 11, 2020

A Path to More Creative Thinking

Innovation is a skill. It’s not a gift. It’s not something you’re born with. But you can actually learn to be creative like you could learn […]
August 10, 2020

Task Unification – The Go-To Innovation Tool to Break Functional Fixedness

Mankind has used patterns for thousands of years to solve everyday problems. Those patterns are now embedded into the products and services you see around you […]
December 9, 2019

How to Enhance Innovation with Learning and Development Training

by Max Maccarone Innovation is an inescapable fact of being in business in today’s market. Advancements and developments in technology mean that nearly every industry has […]
August 13, 2019

Moms Who Dominate the Closed World Principle

If you’re remotely familiar with “mom life” you know that unpredictable needs arise at a moment’s notice. BuzzFeed recently highlighted these daily realities by capturing the […]
August 5, 2019

What is a Diaper Worth? An Example of Value and Pricing

When it comes to pricing a product, one principle rises above the rest.  A price is inextricably linked to the value a customer places on that […]
November 14, 2011

The LAB: Innovating the Pricing Process (November 2011)

Setting prices on new products and services is one of the most challenging roles in marketing. Pricing mistakes are costly, yet it's one of the most tempting tools to use when trying to generate revenues. Fortunately, methods like Value Based Pricing and frameworks like The Big Picture make the job easier. What if you wanted to explore more innovative ways to set prices? Applying the SIT innovation patterns would create new insights and options. The SIT patterns help break fixedness - the tendency to limit the way we see things to what we know. These patterns are innate to all of us. We just need to "extract" them from within and deploy them in a systematic way. For this month's LAB, we will apply SIT to pricing. While there are many methods and schools of thought around pricing, the SIT templates should apply to any of them. I would do the following.