...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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...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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...Analysis MZD 5 4.1.2 Analysis HEMA 7 4.2 Advantages of Co-Creation 8 4.3 Disadvantages of Co-Creation 9 5. Conclusion 10 6. Managerial implications and further research 10 References 11 Appendices 12 Appendix A: Transcription interview MZD (In overleg met docent) 12 Appendix B: Transcription Interview Price Winner Design competition HEMA 13 Appendix C: E-mail correspondence HEMA 18 Appendix D: Transcription symbols 20 1. Introduction Nowadays, there is an increasing demand for innovative products. Innovative products have several benefits. One of these is that it facilitates the enhancement of an organisation’s market orientation. Besides, it is needed in order to differentiate itself from their competitors. Lastly, innovation is required in order to achieve long-term performance which ultimately leads to the survival of an organisation (Lecture 1, 2015). Due to this increasing demand, organisations choose more frequently to involve their consumers in the new product development (also known as co-creating). In this report, co-creation was defined as: ‘Any collaborative activity in which one or more customers actively contribute to a new product development process’ (O’Hern and Rindfleisch 2009, p. 4). This analysis looks at products as the total of products and services offered in current society, instead of focusing on a limited range of tangible consumer products. Involving consumers in this new product development has benefits and drawbacks. Some state...
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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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...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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...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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...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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...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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...That is, the learning will include both listening, watching and doing. It would probably be a good idea to arrange with your other group members to participate in the online lecture together; that will ensure that there is somebody else that you know completing the online exercises at the same time that you will be. Furthermore, what you will also find is that the lecture does use a lot of what is covered in the textbook; so it may be a good idea to have the textbook open as you go through this online lecture. I hope that you find these online lectures engaging and that there is a positive learning outcome by participating. Start of Online Lecture on Innovation and Change . Overview A good starting point for this online lecture should be to understand that we have a fair way to go in terms of really knowing what innovation is and how it provides...
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...How to foster innovation in your business Presentation on the occasion of the Credit Suisse event 7th September 2013, Zurich Dr. Reto Müller Chairman of the Board of Directors Helbling Holding AG Helbling - a Leader in Technological Innovation and Business Consulting Helbling Group Key figures 2012 We are unique through our ability to integrate a spectrum of professional know-how, experience and skills. 458 employees Our ability to link technological expertise with business competence results in entrepreneurial success for our clients. Companies in Switzerland, Germany, USA and China Revenues CHF 110.9m International Network Offices (Corporate Finance International) Owned by 25 managing partners 2 Examples of innovations at Helbling Extract out of some thousand innovation projects in more than 50 countries Innovation leaders collaborating with Helbling: Nestlé, Roche, ABB, Airbus, Siemens, Medtronic, Schindler, Pfizer, Novartis, Sonova, Google, BSH, Geberit, Sika, V-Zug, Source: Helbling Qiagen, Tecan and many others 3 Strategic innovation management – selected Helbling references Companies Why Helbling? We measure ourselves - e.g. on the increase of the value of your innovation pipeline We are senior experts with over 15 years consulting experience and a focus on the topics "Increasing innovation success and increasing the power of innovation» We use self-developed tools and instruments ...
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...Incremental Innovation in Technology, Advantages and Disadvantages. Introduction: The objective of this paper is to examine the techniques related to incremental technological innovation in light of its advantages and disadvantages. Many studies focus on techniques of speeding up the cycle of product design. However, the fastest and most effective way to speed up the introduction of a product is to execute an incremental improvement – to an existing produce - that could serve a new and particular need. On the other side of the spectrum, there is what is called the megaproject. A project that starts out with over-the-top ambitious objectives, it requires almost extraordinary effort to accomplish, it demands enormous financial budgets, it typically runs over time and misses many deadlines, and at the end, few examples make a splash and many are written as “tax deductions”. While these heroic projects make good news stories, they do not always make money. They can fail very dramatically and expensively. Since these failures do not make such good new stories, we hear less about them, and overestimate the success rate of megaprojects. We underestimate the importance and value of incremental programs and mislead ourselves about the true risk of the megaproject. We need to look more carefully at these two approaches. Therefore, the opinion expressed here is that the incremental innovators are in fact the unsung heroes of product development. In examining the advantages...
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...compatibility between adopted innovations and the selection of a business action by a small –medium enterprise? In other words innovations implemented in company, a) make the desired grade of change at company level and/or b) produce the value desired in the environment? The actions that a business selects are always dependable on the potential of the company. Before a business plans how to proceed with a new action, it has to research its potential and the already adopted innovations so as to find a way to break new ground. In doing that, it makes the desired grade of change at a company level and produce the value desired in the environment. * P. Drucker supports: In order to be able to innovate, a company should separately organize the new from the old and existing. Do you agree or not and why? The above statement suggests that in the process of innovating, the company should act independently of what it used to do. Drucker suggests that in trying to implement a new form of things in a company, either this is a product or service, they should not take into consideration the old form and the existing one. Whether acting on a totally new platform is beneficial or not depends on several factors, the most important one being the potential of the company. Implementing an innovation needs the necessary promoting strategies which in turn depend on strong financial resources. Large enterprises can rely on it for their innovation to succeed. They do that firstly...
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