...Introduction Today more than ever before, marketing is the steward of the entire customer journey and building a bond with customers wherever they are. Marketing is in the driver’s seat but with that power comes responsibility and pressure for marketers to be exceptional. But, in a crowded space it’s harder and harder to be exceptional. In today’s world marketing is crowded and your audience is constantly bombarded with marketing messages. You find yourself facing the challenge of how you can break through the noise. To accept the challenge and excel in marketing you need to embrace the shift from talking at people to engaging with people, and work to build meaningful, life-long and personal relationships. In order to build those relationships you will have to shift how you think about and how you do your marketing. You need to be innovative. This ebook explores innovation in today’s marketing world. It will show you how marketers think about, foster, and deploy innovation in their organizations and are making the shift from mass marketing to the new era of engagement marketing. “Times have already changed; customer engagement is the new battle ground on which we will be measured.” — REW NICHOLSON, CEO, D OGILVYONE DNX 01 Key Take-Aways As part of Marketo’s 2014 Marketing Nation Roadshow Tour, we surveyed the attendees at the London stop about innovation in marketing and the state of innovation in their organization. Survey participants were...
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...Assignment #3 List five innovations. Label each innovation as continuous, dynamically continuous, or discontinuous. Defend your selection of type of innovation. Do not used the same examples as used in the text. McDonald's Snack Wrap: This is an example of a continuous innovation. The ingredients and taste might be slightly different from typical wraps( e.g wraps from Taco Bell) but we still eat the wrap in the same manner that we would eat any other wrap. It's a modification of an existing product. Venus Water Shaving Razors: This is another example of a continuous innovation. In the past we would need to use shaving cream/gel before shaving, but with the new shaver, all you have to do is dip the blades in water and it'll work like a shaving cream/gel. It's a modification and improvement of an existing product. Bella and Birch Textured Paints: These can be applied like a wallpaper without the use of glue. It's a dynamically continuous innovation as it can exert a degree of influence on usage and behavior patterns. This doesn’t really change the demeanor/behavior of the applicator. Norplant Contraceptive: This is an example of a discontinuous innovation as this innovation required significant changes in behavior of significant importance to the individual. This kind of contraceptive is made of six small silicone capsules and becomes implanted in the upper arm of the female and stays effective for five years This requires the female to completely step...
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...C1213447Q COURSE SERVICES MARKETING COURSE CODE CUHT 402 LEVEL 4.1 PROGRAMME BACHELOR OF SCIENCE HONOURS IN TOURISM AND HOSPITALITY DUE DATE 31 AUGUST 2015 QUESTION: Innovate or die. Explore the central role played by innovation in achieving sustainability and competitiveness of Zimbabwe’s hospitality and tourism sector. Innovate or die. Explore the central role played by innovation in achieving sustainability and competitiveness of Zimbabwe’s hospitality and tourism sector. Innovation is a new idea, more effective device or process. It is an inbred human quality that has ensured mankind survives the harsh reality of the world that he lives in and thrives despite all the negatives and challenges of his existence. According to the latest statistics from World Economic Forum (2015) Zimbabwe was ranked 115 out of 141 countries in terms of travel and tourism competitiveness. Without innovation Zimbabwe could easily sink further in the rankings. New idea injection and implementation is of an urgent need in Zimbabwe at the moment in order for it to compete both regionally and internationally. Innovation in sustainable tourism practices is a double edged sword in this endevour as well...
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...CHAPTER 1 COMPANY PROFILE 1.1 COMPANY DESCRIPTION Smart-Tech Product Technology SDN BHD was incorporated under the Companies Act, 1965 on 30th June 2015. Smart-Tech Product Technology SDN BHD performance has stepped forward to increase the supply of its expertise in the field of kitchen equipment innovation. With a leading of board of directors skill in business field, Smart Product Technology SDN BHD now aims to diversify its activities to participate in the field of industrial and service sectors and field of business thrive. Smart Product aims to make a company successful in the rural sector as well as create a more dynamic, attractive and profitable operation in line with the strategy of the program orientation profit and social obligations of the program. Smart-Tech Product Technology SDN BHD also have confidence in building a reputation and image of their own business to ensure quality of product provided are effective and provide best product to customers. The company is confident with the capability to continue taking an active and growing a business, thereby the quality of the company will continue to provide quality work to gain the trust of any parties involved. The company also takes about competition that exists in this sector. However, with the dedication of all staff and workers in the production of a quality standard, the company felt that this creates a healthy competition in the development of this industry. Healthy competition will soon provide...
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...Marketing, Strategy and Enterprise 13 Marketing Design and Innovation Customer Name Marketing, Strategy and Enterprise 13 Marketing Design and Innovation Customer Name Contents Acknowledgement: 3 Reflective Essay 4 The Apple IPhone line 5 The Introduction of the IOS Operating System 6 The IPhone 1 matches up to expectations 7 The Marketing Genius of IPhone 1 7 The Benefits of the IPhone series and how the customers take advantage from them: 8 The Uniqueness of the Apple IPhone Line 10 The Brand Appeal of Apple IPhone Series 11 Conclusion: 13 Bibliography 14 Acknowledgement: I would like to start this document by thanking all my instructors who played a vital role in ensuring that I had the necessary knowledge to attempt this assignment successfully. I would also like to thank my fellow students who not only supported me morally throughout the course of this assignment but also took on the duty of completing the proof reading process of this assignment and pointing out small typing errors and general grammatical deficiencies. I would also like to thank my parents who supported me entirely in the course of this assignment. Reflective Essay The company that I have chosen for this assignment is Apple. Apple is one of the largest technological giants of the world with products ranging from LED televisions to Smart Phones. In this particular assignment, we will be focusing on the Smart Phone line of Apple. Apple is embroiled in a...
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...Marketing and Innovation, the same fate. Sandor Luis Miranda. Student Number: 20145716003 ABSTRAC In this paper a literature review on the development of the innovation process in the course of the years and the importance of SMEs for the same is made. Turn reference to the relevance of the innovation process presented in the marketing strategy of companies to succeed in an increasingly dynamic, demanding and competitive market is. The article also different classifications of innovation are explained according to their degree of implementation, degree origin effect of innovation and its origin, as well as generations or models that have characterized the process of innovation over time. Key words: Innovation, Marketing, Management INTRODUCTION. In an era of globalization and high competitiveness of products, as it is in the changing world of marketing you need to be alert to the demands and expectations of the market, it is vitally important innovation factor. Competitiveness and the need to innovate to continue and grow in the current and future market are concepts used daily in many institutions. The marketing of innovation is a novel approach to technology management to solve the problem of linking research, technological development and the world of new business efficiently. Innovation and marketing are, in competitive markets today, two fundamental tools for business differentiation. Two tools capable of supporting a company as a market leader. The...
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...more substantial affair, and it has begun to get to grips with some of the difficulties involved in the greening of companies rather than just focusing on the necessities and the opportunities. So new chapters covering ‘The Secret to Avoiding Backlash’ and how to ‘Work from the Inside Out’ deal with some of the implementational issues that those who rushed off enthusiastically clutching the first edition may have encountered. There are other changes too. The book’s emphasis has changed to reflect the evolution of the green agenda. It deals with the change in environmental concern to become less explicitly ‘top of mind’ among many consumers and managers, instead becoming more of a central core value influencing consumption and marketing decisions. The chapter on dealing with different stakeholders is now entitled ‘Teaming Up for Success’ reflecting the trend towards collaborative solutions for environmental problems. It is a pity that these developments in the book have not really been matched by a more sophisticated approach to the characterisation of green consumers. The book has a very useful discussion of green consumer psychology, but it still classifies consumers according to the Roper Organisation’s ‘True Blues’ to ‘Basic Browns’ framework which is very simplistic and perhaps too American to be very useful...
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...Praxis II: Marketing in the 21st Century Marketing: Strategic Innovation in Globally Diverse Markets December 23, 2012 Abstract This paper will explore the potential evolution of the role of consumer marketing. I will examine the role of the retailer and the consumer on the Internet and the vital changes retailers must incorporate to stay competitive in the marketplace. In addition, I will discuss the role of personalized marketing, traditional advertising versus online advertising, changes in the marketplace attributable to globalization, the implications of interpersonal communications, and management of the 5Ps. Personalized Marketing Personalized marketing (sometimes referred to as one-to-one marketing) is the marketer attempt to provide the customer individual attention through a variation of methods. Personalized marketing is a strategic approach which involves tailoring products differently for each and every consumer while retaining the principles of mass production. One-to-one marketing is attributable to two converging phenomena: the interactive flow of information made possible by robots and just-in-time inventory (Lampel & Mintzer, 1996, p. 21). In order for a company to be effective in personalized marketing, the company must be able to gather information on the target individual. Today, with the power of technology this is a widespread practice on the Internet. The Internet provides a medium to make one-on-one personalization practical for...
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...Questions: (1) Evaluate product innovation at Gillette throughout its history. Has Gillette been a victim of its own success? Has product innovation in the wet-shaving market come to an end? Explain. Gillette had dominated the personal shaving market for quite a long time. They did not focus on product innovation very much, and when it did, it focused on acquiring existing product lines. In 1962, when Wilkinson Sword launched its stainless-steel blade, Gillette finally had competition. Wilkinson Sword could not exploit the niche it had created and Gillette was able to purchase much of their existing blade business. However, the damage was done and the competition dropped their market share to an all-time low. Gillette continued to diversify their product line, but was met with mixed success. It was at that time that Gillette gained even more dominance in its market by their product development. It began continuously attacking its own products. From the Trac II to Atra to Sensor to Mach3 to Fusion, Gillette kept on innovating and attacking it own products. It revolutionized the wet-shaving market throughout the world through continuous evolution in their product line since its inception. In many ways Gillette has been a victim of its own success - when they were being innovative, they were "cannibalizing" their own successful products. While their new inventions drove up their sales, it often took away from the sales of its previous products and did not increase...
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...Discussion 2: Shared Practice: How Can Technology Innovations Affect Marketing Strategies? The vast development of technology has a tremendous effect on marketing strategies. More and more business are getting on board in fear of being left out and eventually not being able to keep up. This rapid change has increase collaboration through effective communications within organization and also consumers and businesses. The companies that have effectively integrated innovation technologies into their prospective marketing strategies are Xpress GRTA, Georgia United Credit Union and Department of Human Resources. Xpress is a transportation services that serves the metro Atlanta region with valuable transportation. Also known as (GRTA) Georgia Regional Transportation Authority, (GRTA) provides reliable and stress-free commutes for workers to get to and fro their places of employment. Earlier this month Xpress has incorporated some major changes that will provide more efficiency service to their consumers. More buses, more schedules, and more stops. (GRTA) has effectively integrated innovative technologies by providing an app where consumers can track their track the status of their bus. Where is my bus? Schedule and locate me. Consumers are able to know what time the next bus is...
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...Group 16 Innovation in Product Submission #2 Anant Jain B15131 Ankit Goel B15132 Anshul Jain B15134 2015 1. Introduction Innovation is refinement in a product, process, method, or a part thereof. Innovation has become a buzz-word in recent years, with increasing relevance of ‘innovation-centred business models’, and ‘innovation-led-entrepreneurism’. In fact, the success stories of Industrial America, technological Silicon Valley, American financial market, etc., are tales of constant innovations. ‘Digitization’ has shifted access to knowledge and information from a privilege to convenience: anyone who is willing and able to pay, has an access. Also, sharing of information and flow of payments and tenders through internet has changes businesses like never before. 1.1 What is Product Innovation? Product Innovation can be defined as creating a new product, or making changes in the existing product, or creating a differentiation in terms of utility or features of the product. Light Bulb, telephone, microprocessors, digital displays were great innovation in terms of making of new products, i-pods, cell phone, integrated circuits were innovations in terms of modification in existing products. Not all product innovations are technological breakthroughs- take a safety pin for example. Even candle, fountain pen, and scissors are examples of path-breaking revolution, that didn’t require significant technology, or invention capabilities. On the other...
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...4 The Development and Implementation of Marketing Information System Within Innovation: The Increasing of Innovative Performance Ondrej Zizlavsky Brno University of Technology Czech Republic 1. Introduction In his work, a prominent Czech expert on innovations, (Valenta, 2001), reached the conclusion that current tougher and tougher competition, globalization of production and markets, as well as implementation of new technologies mean that the success of businesses is dependent on effectiveness and intensity of innovation activities. Innovation is a process that is created via interactions between various actors, e.g. (Dolourex, 2004) and represents an important element of a company's future success. Each innovation is unique and specific for every entrepreneurship. American authors warn that innovation is more than just an idea or thought. It is bringing an idea to life (Tidd & Bessant, 2009). Currently, innovation is considered a decisive condition of a competitive advantage in entrepreneurship. This is stressed by prominent Czech, as well as foreign experts; e.g. (Hamel & Green, 2007; Kislingerova, 2008; Kosturiak & Chal, 2008; Skarzynski & Gibson, 2008). The course of the fading economic crisis that negatively impacted operation of current business unambiguously supports the inevitability of innovations. A company that strives to maintain and strengthen its position on the market has to implement a suitable innovation policy that would enable it to achieve a more advantageous...
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...Chapter 15—Marketing Performance Measurement MULTIPLE CHOICE 1. The balanced scorecard measures the performance of a business unit from: |a. |a customer perspective. | |b. |a financial perspective. | |c. |a learning and growth perspective. | |d. |all of the above. | |e. |(a) and (b) only. | ANS: D PTS: 1 NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Managing strategy & innovation 2. The level of marketing control that examines whether the strategy is being implemented as planned and whether it produces the intended results is termed: |a. |strategic control. | |b. |annual plan control. | |c. |strategic component control. | |d. |profitability control. ...
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...planned innovation and new product development to manage its technology life cycle, i.e., product life cycle The ways in which BMW has planned innovation, and new product development, to manage their technology life cycle and product life cycle, has been accomplished through consistent innovation. In consideration of the life cycle of BMW, there are many factors taken into account when developing a marketing strategy. Life Cycle Value Assessment (LCVA), or life cycle analysis, is a tool used to determine environmental, economic, and other various determining factors which can influence the entire life cycle of a given product. It also serves to influence important business decisions. The continued growth and success of BMW can be defined by the way in which they focus on culture as a company. According to the article, Innovation: A Strategic HR Imperative, “For example, BMW’s continued success is its strategic focus on developing customer-friendly innovations, coupled with an approach to innovation management that is unique within the automotive industry” (Stanleigh, 2012). BMW sets themselves apart because they prescribe to the philosophy of a company knowing what it stands for, and capitalizing on its strengths; by doing so it can more easily develop and implement a clear strategy. While some companies put their primary focus on manufacturing, BMW also incorporates innovation throughout every department within the organization, including sales and marketing, human resources...
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...Customer Clusters as Sources of Innovation-Based Competitive Advantage Vishal Bindroo, Babu John Mariadoss, and Rajani Ganesh Pillai ABSTRACT The authors examine the effect of customer clusters on a firm’s innovation. They argue that knowledge leveraged from customer clusters can help the firm develop innovations. The authors specifically concentrate on the effect of a firm’s geographical proximity and diversity of customer clusters on innovation outcomes. In addition to showing the importance of customer cluster proximity on firm innovation, they explore the effect of customer cluster heterogeneity on innovation in an international marketing environment. They test the theoretical model using multicountry data (N = 288) drawn from the U.K. innovation survey implemented by the Economic and Social Research Council, which collected the data across five European countries. Theoretical constructs operate largely as hypothesized and explain a substantial proportion of the variation in the different innovation outcomes tested. Keywords: radical innovation, customer cluster, cluster heterogeneity, proximity, innovation speed I nnovation is frequently acknowledged as the source of organizational renewal and growth, the primary source of competitive advantage (Porter 1990), and central to marketing strategy (Varadarajan and Jayachandran 1999). Because innovation is linked to superior financial performance and survival ability of firms (Agarwal, Cockburn, and McHale 2006), creating...
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