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The Innovation Value Canvas: A Guide To Defining Value Propositions And Target Customers For Commercialization Of Technological Innovations

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  • HOSSEIN MAHDAVIMAZDEH

    (University of Calgary, 2500 University Drive NW, Calgary, AB T2N 1N4, Canada)

  • LOREN FALKENBERG

    (University of Calgary, 2500 University Drive NW, Calgary, AB T2N 1N4, Canada)

  • MADELYNN STACKHOUSE

    (#x2020;Bryan School of Business and Economics, University of North Carolina, 1400 Spring Garden Road, North Carolina 27412, US)

Abstract

Many innovations result from firms following theories and models of innovation such as disruptive innovation, blue ocean innovation, etc. Yet, there are many other innovations that are not developed through these models and rather stem from technological pushes and research and development efforts. The commercial success of these innovations is contingent upon existence of a good fit between the technological innovation and the accompanying business model. To date, this fit has been mostly sought through trials and errors. In this paper, we develop a framework for analytically choosing and aligning two important components of the business model — value proposition and target market — to fit the technological innovations. We illustrate the framework using case examples of products in the market.

Suggested Citation

  • Hossein Mahdavimazdeh & Loren Falkenberg & Madelynn Stackhouse, 2019. "The Innovation Value Canvas: A Guide To Defining Value Propositions And Target Customers For Commercialization Of Technological Innovations," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 24(02), pages 1-29, February.
    • Handle: RePEc:wsi:ijimxx:v:24:y:2019:i:02:n:s1363919620500127
    DOI: 10.1142/S1363919620500127
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