Porter's Double Diamond model is a framework developed by Michael Porter that helps businesses understand and navigate the process of innovation. It consists of four stages: Discover, Diverge, Converge, and Deliver.
The first stage, Discover, is all about gathering information and understanding the needs of the market. It involves conducting market research, identifying customer pain points, and gathering insights about the competition.
The second stage, Diverge, is about generating ideas and exploring different options. This is the stage where businesses can think outside the box and come up with creative solutions to address the problems identified in the Discover stage.
The third stage, Converge, is about narrowing down the options and choosing the most viable solution. It involves evaluating the pros and cons of each option and making a decision about which one to pursue.
The final stage, Deliver, is about bringing the chosen solution to market. This involves developing and launching the product or service, as well as marketing it to the target audience.
Porter's Double Diamond model is a useful tool for businesses looking to innovate and bring new products or services to market. By following this framework, businesses can ensure that they are taking a structured and strategic approach to innovation, rather than simply reacting to the latest trends or fads.
Overall, Porter's Double Diamond model is a valuable tool for businesses of all sizes looking to innovate and stay ahead of the competition in today's fast-paced and constantly changing market.