EVENTS
LUX FORUM SILICON VALLEY
Breaking Through the Hype in Consumer Products Innovation
Location: Sheraton Palo Alto Hotel, 625 El Camino Real, Palo Alto, CA 94301
Date:ย Tuesday, December 10, 2024
Time:ย 8:00am โ 12:30pm PST
ย
Breakfast will be provided.
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LUX FORUM SILICON VALLEY
Breaking Through the Hype in Consumer Products Innovation
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About the Event
Building innovation ecosystems that create value consistently is difficult, especially when driven by hype-centric innovation investment trends and a failure to proactively identify core consumer needs to create differentiation. Most companies fail to create value and miss out on opportunities because of uncertainty, thus becoming followers of innovation in high-competition sectors. Innovators must therefore make better early internal stage-gate decisions and sift through innovations to identify technologies or strategies that can be applied today or directed for long-term opportunities.ย ย
This forum evaluates the hype cycles of cell-based meat, autonomous driving, and informatics to 1) define core and emerging consumer needs, 2) evaluate technology availability and scalability to satisfy those consumer needs, and 3) provide primary perspectives on how to shift an organization from innovation follower to innovation driver.ย
Attendees will gain:ย
- Practical guidance on how to separate consumer needs from hype trends to confidently identify innovation opportunities.ย
- An understanding of how to access value from innovations built on the back of hype cycles without being trapped into inaccurate narratives.ย
- First-hand industry insights about how to drive innovation forward.ย
Event Details
- Location: Sheraton Palo Alto Hotel, 625 El Camino Real, Palo Alto, CA 94301
- Date: Tuesday, December 10, 2024
- Time: 8:00am โ 12:30pm PST
- ย
Breakfast will be provided.
| Time (PST) | Description | Presenter(s) |
|---|---|---|
|
8:00 AM โ 9:00 AM |
Networking Breakfast |
|
|
9:00 AM โ 9:50 AM |
Breaking Through the Hype in Consumer Product Innovationย Hype cycles drive innovation; however, misalignment between innovation investment and its consumer impact frequently occurs because the hype cycles, rather than core consumer needs, dictate innovation investment. While many companies target fads during these trends, this strategy doesnโt create a sustained business or align with innovation risk. The result is that most companies either fail to innovate successfully or become followers of high-competition sectors, especially when innovation financing is expensive. Therefore, innovators must make better early stage-gate decisions or sift through the innovation results of hype cycles to identify technologies that can be applied today or directed for future opportunities. This presentation aligns the status of unmet needs or product differentiation, technology availability, and the state of scalability and cost to provide a means to identify the minutia that matter hidden within hype cycles and weed out the winners from the losers. |
Cheryl Auger Joshua Haslun, Ph.D. |
|
9:50 AM โ 10:30 AM |
The Minutia Matter: Defining the Core Jobs-to-be-Done Within Hype Cycles There is always a grain of truth contained within hype cycles and the fleeting fads created, but the minutia matter. Innovation teams need tools and partners to capture long-term consumer opportunities amid the low signal-to-noise ratio successfully. Lux applies a jobs-to-be-done framework to provide contextual analysis of consumer product reviews and identify pain points, joy points, or unmet needs associated with something that people are trying to achieve (e.g., a task, goal, or problem). We will uncover the most dominant jobs in three key hype areas: 1) using the senses to create experiences, 2) autonomous vehicles, and 3) holistic body health and then analyze them for tensions, occasions associated with a job, steps taken to solve the job, and the types of products hired and fired. |
Derek Gingrich Lauren Gilhooly |
|
10:30 AM โ 11:00 AM |
Networking Break |
|
|
11:00 AM โ 11:40 AM |
Accelerating the Right Technologies Through Human-Centric Innovation with Lux Research Innovation leaders must move quickly, be on the cutting edge, and avoid the gravity of hype to meet consumers’ needs. In this session, we evaluate the availability and scalability of technologies capable of overcoming the core unmet needs identified from three hype cycles. You will learn how to use the Virtual Research Assistant Luxer, built on research methodologies refined over the last 20 years, to rapidly surface insights and connect the human-centric minutia that matter to innovation activity that directly targets consumers as well as the adjacent manufacturing innovation ecosystem. Attendees will leave with a strong understanding of how to bridge the results from the jobs-to-be-done framework to innovation ecosystem scouting and accelerate the innovation journey by improving alignment to unmet needs. |
Ian Rinehart Maxwell Barry Kaitlyn Cullen |
|
11:40 AM โ 12:15 PM |
Fireside Chat: Moving from Innovation Follower to Innovation Driver โ Insights from Industry Leaders Growing an innovation team that leads rather than follows its competitors requires human-centric innovation. This innovation relies on learning new technologies, skills, frameworks, and methodologies to deliver incremental advances and create transformational opportunities. An esteemed executive within Luxโs network will discuss how they are transforming their team and their approach to consumer insights and innovation โ and how they are using Lux to do so. |
Moderator: Josh Haslun, Ph.D. Guest Speaker: Raymond Zheng |
|
12:15 PM โ 12:30 PM |
Wrap-Up and Next Steps |
Cheryl Auger Joshua Haslun, Ph.D. |
Expert Speakers
Senior Managing Director of Corporate Venturing and Open Innovation at Honda Innovations Silicon Valley
Client Research Delivery Lead
Business Development Representative
Client Experience Manager
Product Manager
Senior Director of Research
Senior Director
Associate Research Director
About the Lux Forums
At the Lux Forum, subject matter experts will provide meaningful insights relevant to oil and gas, utilities, industrials, chemicals, and consumer products innovation leaders. In this exclusive setting, attendees will make connections with executive-level industry counterparts through networking sessions and will take in cutting-edge research from the leading provider of sustainable innovation research and advisory services, Lux Research. These forums will deliver the thinking you need to accelerate the pace of innovation at your company.
