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Navigate to the New with the Product Reinvention Grid

In their new book, Reinventing the Product, Eric Schaeffer and Dave Sovie have built a new framework to help scale and revive sluggish growth of the core business. This is called the Product Reinvention Grid.

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Navigate to the New with the Product Reinvention Grid

  1. 1. REINVENTYOURPRODUCT- REINVENTYOURBUSINESS
  2. 2. NAVIGATINGTHEPATHTO PRODUCTREINVENTION The Product Reinvention Grid is a systematic map on which each product’s path to a smart connected future can be charted. It outlines the evolution of the product on two key axis of the grid, the (Product) Intelligence Quotient (IQ) and the (Product) Experience Quotient (EQ), and describes changing traits as products evolve on each axis. The combinatorial effect of both changes leads to what we call the Product Reinvention Quotient (PRQ) measuring the magnitude of transformation required for any product or product company. The grid also identifies Future Value Spaces for every product company. Copyright © 2019 Accenture All rights reserved. 2
  3. 3. THEPRODUCT REINVENTIONFORMULA Product Reinvention Quotient Experience Quotient (EQ) Intelligence Quotient (IQ) New Value Spaces/ New Business Models Copyright © 2019 Accenture All rights reserved. 3
  4. 4. THEPRODUCT REINVENTIONGRIDANDQUOTIENT 4 Experience Quotient (EQ) measures the degree of sophistication achieved in terms of services levels Intelligence Quotient (IQ) measures product’s degree of technical sophistication Product Reinvention Quotient (PRQ) measures the magnitude of transformation required by combining IQ and EQ changes EXPERIENCE OUTCOMEOUTPUT PLATFORM EQ–EXPERIENCECONTINUUM IQ – INTELLIGENCE CONTINUUM PRQ=220 140 180 160 TRADITIONAL PRODUCT TRADITIONAL PRODUCT 70 CONNECTED PRODUCT 90 INTELLIGENT PRODUCT 120 AUTONOMOUS PRODUCT 140 CLOSED 70 OPEN 80 PRODUCT AS-A- SERVICE 60 PRODUCT + SERVICE 30 PRODUCT 20 Copyright © 2019 Accenture All rights reserved.
  5. 5. THEPRODUCT NEWVALUESPACESFORMANUFACTURERS Copyright © 2019 Accenture All rights reserved. 5 Experience Quotient (EQ) measures the degree of sophistication achieved in terms of services levels Intelligence Quotient (IQ) measures product’s degree of technical sophistication EXPERIENCE OUTCOMEOUTPUT PLATFORM EQ–EXPERIENCECONTINUUM IQ – INTELLIGENCE CONTINUUM TRADITIONAL PRODUCT ECOSYSTEM PLATFORM LIVING SERVICES LIVING PRODUCTS CONNECTED PRODUCTS CONNECTED PRODUCT AS-A-SERVICE 5 3 4 1 2 TRADITIONAL PRODUCT 70 CONNECTED PRODUCT 90 INTELLIGENT PRODUCT 120 AUTONOMOUS PRODUCT 140 CLOSED 70 OPEN 80 PRODUCT AS-A- SERVICE 60 PRODUCT + SERVICE 30 PRODUCT 20
  6. 6. Each business has to decide how far they want to go and what the right time is to reinvent their product. The Product Reinvention Grid will always serve as your overall compass. It helps you to decide the best path for your smart connected product. Copyright © 2019 Accenture All rights reserved. 6 Order now on Amazon

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