Product Innovation
The Kellogg Company is a producer of cereal and convenience foods with a number of brands. The company is located in Battle Creek, Michigan, and was founded in 1906. Kellogg's posted earnings of almost $13 billion in 2010 and employs about 31,000 people. Facing global sales stagnation and decline, Kellogg promoted Carlos Gutierrez, who had risen in the company from the ground up since 1975, as CEO. Gutierrez believed in the strategy of "Volume to Value," a way to increase sales by focusing resources on Kellogg's highest margin products like Special K, kasha, and Nutri-Grain. This extra income would fund advertising, promotion and R&D, which would also encourage high-margin sales growth. "Volume is a means to an end -- not an end. What counts is dollars" (Boyle, 2004).
PIC Analysis for Rice Kipsies:
Rice Krispies, also known as Rice Bubbles in Australia and New Zealand, is one of the prime breakfast…...
MAKET ANALYSIS & PODUCT INNOVATION
Market Analysis and Product Innovation: Facebook Inc.
In an increasingly competitive environment, business organizations must remain innovative. They must deliver offerings that resonate with the ever changing needs of the consumer and the operating environment (Akbar & Tzokas, 2013). This often calls for product innovation, which has been marked as a crucial driver of competitive advantage in the contemporary marketplace (Song & Chen, 2014). Nonetheless, product innovation is often not a straightforward undertaking. An organization must have comprehensive understanding of the environment in which it operates, especially in terms of the threats and opportunities it presents, for its products to succeed in the marketplace (Bart, 2002). The organization must also effectively utilize its resources and capabilities to overcome those threats and take advantage of the opportunities (Holahan, Sullivan & Markham, 2014).
One organization that is an epitome of innovation in today's business environment is Facebook Inc., whose social…...
mlaReferences
Akbar, H., & Tzokas, N. (2013). An exploration of new product development's front-end knowledge conceptualization process in discontinuous innovations. Journal of British Management, 24, 245-263.
Bart, C. (2002). Product innovation charters: mission statements for new products. R&D Management, 32(1), 23-34.
Facebook (2015). Annual Report 2015. Retrieved 28 September 2016 from: Report.pdfhttps://s21.q4cdn.com/399680738/files/doc_financials/annual_reports/2015-Annual-
Holahan, P., Sullivan, Z., & Markham, S. (2014). Product development as core competence: how formal product development practices differ for radical, more innovative and incremental product innovations. 31(2), 329-345.
Individual Product Innovation Proposal Assume organization, familiar, made a strategic decision innovative. (Mcdonald's product line) Identify unknown problems unmet opportunities develop innovative strategy address .
McDonald's has lately decided to become more innovative by adding a healthier product line that includes fruit, salad and vegetables. It has not only added this new product line, but has consistently encouraged customers to purchase them, including by allowing them to add such products to value meals instead of the traditional fries
This paper aims to use the IDM five-step roadmap to address the creation of an innovative business product, namely the new product line at McDonalds.
Assessing the situation
During the last years, McDonald's has been under considerable pressure from groups and individuals that argued that the products that the company sells are not healthy and encourage obesity. The arguments these groups used included the nature of the products (meat, fries, sweet products, Coca Cola) and some…...
mlaBibliography
1. Langley, Lacy. McDonald's announces big menu changes. September 2013. On the Internet at Last retrieved on September 30, 2013http://www.webpronews.com/mcdonalds-announces-big-menu-changes-2013-09 .
Langley, Lacy. McDonald's announces big menu changes. September 2013. On the Internet at
product market that interests you, and come up with a new product for that market. Select a market that you know something about so that you will have the most domain specific knowledge. Be sure to include the following steps:
Describe the current product market. This includes the nature of the product, the target markets, competitors, and their product lines.
Your problem definition is to come up with a valuable new product for your product/market (See the slide on types of new products).
Go through the Product Innovation Slides, and use the 6 ideation techniques to come up with at 6-10 new product ideas.
Evaluate the ideas, select the best one, and justify your choice.
Flesh out your new product idea, including target market, benefits and features, etc. Explain why you think this idea is likely to be a commercial success.
I would like to develop a new design for stereo headphones that are corded…...
Moreover, CoPs develop their practice through improving the diffusion of innovation within their active networks; the benefits of such interactions are countless especially in the field of healthcare. One can assume that specialty doctors' communities would present the perfect example for CoPs because they share the same practice, interest and professionalism. It would be interesting to study if those CoP networks exist in United Arab Emirates, whether they are active or not and whether leaders can be identified. Collecting such data will enable this project to measure if the rate of diffusion of new innovation can be improved and hence be used by pharmaceutical companies in UAE to improve their resource allocation; all within healthcares' ethical framework.
Overview of Study
This dissertation used a five-chapter format to achieve the above-stated research purpose. To this end, chapter one introduced the topic under consideration, a statement of the problem, the purpose and importance of…...
Innovation
In a single day, the average person comes into contact with a range of services, products, and processes that can be categorized as forms of innovation. Furthermore, most of these innovations will differ in degree, some being radical innovations and others being merely incremental; some sustaining, others breakout, and still others viewed as disruptive innovations. This paper will analyze the different examples of innovation with which I come into contact on a daily basis, show how they are innovative, what generic lessons can be derived from them, and under what form of innovation they would be categorized.
The water purifier is a perfect form of process innovation that is often applied to product innovation: for example, it may be found within the mechanism of the refrigerator, attached to the kitchen faucet, or even inside a portable water bottle. All three provide purified water and illustrate how process innovation can be adapted…...
Innovations in Marketing Services Innovation
Innovation of services
According to Chang (2010), service-based concepts have traditionally lent themselves less easily to innovation than tangible products (Chang 2010:113). Service-based enterprises are said to suffer from the problem of immediate exposure or the fact, that unlike the launch of a new, technical device, there is no 'build-up' or secrecy regarding the released service. However, clearly innovative services have been generated. For example, the innovation of providing supermarket shoppers with home-based deliveries, ordered online, has recently begun to be a popular service. Service sectors have been identified as existing in the Wholesale and etail, Business and Professional, Education, Government, and Finance sectors. The Goods Sector encompasses Manufacturing, Construction, Agriculture and Extraction services (Omachonu & Einspruch 2010: 110).
Services have been defined as deeds, processes, and performances after which no material object is generated (Omachonu & Einspruch 2010: 111). However, there is a clear grey area in…...
mlaReferences
Chang, C.M. (2011). The creation of novel and marketable service ideas. International Journal
of Innovation and Technology Management, 8 (1) 113 -- 133.
Omachonu, Vincent K. & Norman Einspruch. (2010). Innovation: Implications for goods and services. International Journal of Innovation and Technology Management, 7 (2) 109 -- 127.
Product Invention
New products and services are being developed almost continually based on technological changes, consumer choice and demand, and available materials and other new inventions. For instance, computer technology and miniaturization might make it possible for a product to have additional innovation enough to constitute a new niche or an extension. According to most research, however, it is more important to spend time and money selling inventions as opposed to protecting the rights. Patent Pending, for instance, is usually less than a few hundred dollars and provides some level of protection while the item is coming to market (Tozzi, 2007).
In the product management side, there are numerous types of innovation that occur when it comes to managing new or ancillary products. The two most popular types, however, are incremental and radical innovation. In essence, incremental innovation tends to exploit, improve, or otherwise change some existing technology. This innovation improves by…...
mlaREFERENCES
Arons, M. (March 17, 2010). Five Key Drivers of Global Marketing Effectiveness.
Forbes.com. Retrieved from: http://www.forbes.com/2010/03/17/branding-gillette-glaxosmithkline-cmo-network-marc-de-swaan-arons.html
Coe, N., Wrigley, N. (1990). The Globalization of Retailing. London: Edward Elgar
Publishing.
In the middle of the 20th century, a single exercise enthusiast who would later become nationally known as Jack LaLane single-handedly revolutionized weightlifting by virtue of an original inspiration that Drucker would likely regard as being attributable to genius and as functions of process needs, industry market changes, and new knowledge. Specifically, Jack LaLane was (probably the first modern) professional fitness trainer in American history. As a young man, he was a fitness enthusiast who, before becoming famous, earned a living teaching others how to build their bodies through resistance training.
At the time, there were very few weightlifting gyms and those that existed were not particularly welcoming to novices or to recreational users; they were dingy, dirty, and frequented more by competitive athletes like boxers and wrestlers than by ordinary people hoping to change the way they looked. Jack LaLane recognized that there was a demand for an accessible gym,…...
mlaReferences
Drucker, Peter, F. "The Discipline of Innovation." 1985 in The Innovative Enterprise,
Chapter Three: "Types and Patterns of Innovation"
Product: Xperia Z1 Twist plus ear
Enrolling a product in the market attracts subsequent challenges that seek to examine its validity. Therefore, it is inopportune that modern companies develop products that will seek to minimize issues related to the incorporation. The impetus behind this approach is in the knowledge that a good product might fail because of implementation because of the ever-increasing incorporation problems. This becomes challenging if the product in question is affecting several markets. This report will present a product; Xperia Z1 twist plus ear owned by the Sony roup. The report will specify on considerate techniques on how to enroll the product in the market. The report is segmented into three main sections; firstly, the generation of a new idea. Secondly, this report will second an argument of innovation through the democratizing process. Finally, the report will present brief changes that are instrumental in customizing the product…...
mlaGuellec, Dominique, and Bruno Van Pottelsberghe De La Potterie. "The Value of Patents and Patenting Strategies: Countries and Technology Areas Patterns." Economics of Innovation and New Technology 11.2 (2002): 133-148. Print.
McMillan, G. Steven, Alfredo Mauri, and Robert D. Halmilton. "The Impact of Publishing and Patenting Activities on New Product Development and Firm Performance: The Case of the U.S. Pharmaceutical Industry." International Journal of Innovation Management 07.02
(2003): 213-221. Print.
Additionally, aside financial resources, they also used their assets. The most relevant example in this sense is the selling of part of its interests in Mazda. It as such transformed its assets into liquidities -- the 20% shares in Mazda were converted into $540 million (Murphy) -- that better allowed them to pursue their innovation objectives.
The matter of technological innovation is not only a core focus of Ford's, but of all players within the American automobile industry. The reasons for the rivalry in terms of &D are numerous, the most outstanding however being constituted by the desire to attract and satisfy as many customers as possible, managing as such to increase organizational revenues. "&D efforts in the U.S. Auto industry are channeled into a variety of processes such as stamping, casting, machining, and assembling. Within the time-frame of our investigation, &D efforts had to embrace sudden changes in taste…...
mlaReferences:
Brighton, G., July 17, 2006, Ford to Drive Revolution with £1bn R&D Project, PSFK, last accessed on May 6, 2009http://www.psfk.com/2006/07/ford_to_drive_g.html
Murphy, J., November 18, 2008, Ford Cuts Mazda Stake, The Wall Street Journal
Ramrattan, L.B., 1998, R&D Rivalry in the U.S. Automobile Industry: A Simultaneous Equation Model Approach to Bain's Hypothesis, American Economist, Vol. 42
Ramsey, J., October 7, 2007, Ford is Biggest Spender on R&D, AutoBlog, / last accessed on May 6, 2009http://www.autoblog.com/2007/10/07/ford-is-biggest-spender-on-randd
Describe the problem your innovation targets. What is the scope of the problem and which stakeholders, both within the organization and without, does it impact?
The organization that I work in is Dana Incorporated. Dana is a global leader in the supply of significantly engineered drivetrain, sealing, in addition to thermal-management technologies that augment the efficacy and performance of vehicles with conventional and powertrains using alternative energy. The auto industry has had a past account of innovation and a great deal of turbulence. However, the level of innovation in the contemporary is unmatched. Brand reputation together with high product quality continues to be significant but have lost their gleam as consumer selling points. Notably, at the present moment, technology innovation and transparent cost of ownership have swiftly shifted to the top of what consumers desire and demand from a vehicle (Gnamm, Kalmbach, and Burgin, 2018).
By analyzing the internal processes and strategies…...
Innovation & Creativity
FedEx was founded as an innovator in a logistics field that had never seen overnight delivery before. The company has always positioned itself as a premium provider in the business, based on its sophisticated technology, superior network size and quality of service. However, as the company has matured, its ability to be an innovation leader is being threatened. There are a few different issues at play. The first is that, as in any mature industry, the pace of innovation is generally slow. And as the only company that genuinely seeks to position itself as premium to its competitors, FedEx is the only firm truly trying to compete on innovation. Over the years, it has had some tremendous innovation successes, pioneering the ability to maintain communication with its drivers on road, with its tracking that allows customers to see where their packages are at every step of the journey,…...
mlaReferences
Andersen, H.; Barker, P. And Chen, X. 2006. The Cognitive Structure of Scientific Revolutions Cambridge: Cambridge University Press.
Cooper, R.G. 2008. Perspective: The Stage-Gate® Idea-to-Launch Process-Update, What's New, and NexGen Systems Journal of Product Innovation Management 25 (3) 213-232.
Edquist, C. & Hommen, L. 1999. Systems of innovation: Theory and policy for the demand side. Technology in Society. 21 (1) 63-79.
Gatignon, H.; Tushman, M.L.; Smith, W. And Anderson, P. 2002 A Structural Approach to Assessing Innovation: Construct Development of Innovation Locus, Type, and Characteristics. Management Science 48 (9) 103-122.
Innovation at Google
The significance of innovation in creating and maintaining a competitive advantage in today's increasingly aggressive business environment cannot be overemphasized. Businesses that survive in such an environment are those that constantly deliver innovative offerings and/or reengineer their structures and processes amidst ever more changing market and industry conditions (Andriopoulos & Dawson, 2009). Google is one such organization that embodies innovation. With an innovation-oriented culture, the organization has, in a little more than a decade grown to be one of the most innovative organizations in the internet realm. From its adword online advertising service and search engine, to its cloud computing service, browser, productivity software, social networking service, desktop applications, operating system, mobile applications, as well as a host of other internet products, the organization provides a perfect example of how innovation can be an engine for rapid growth.
Based on responses obtained from an interview with one of the…...
mlaReferences
Andriopoulos, C., & Dawson, P. (2009). Managing change, creativity and innovation. London: Sage.
Chen, Y. (2015). The role of reward systems in product innovations: an examination of new product development projects. Project Management Journal, 46(3), 36-48.
Mayle, D. (2006). Managing innovation and change. London: Sage.
Nilsson, S., & Ritzen, S. (2014). Exploring the use of innovation performance measurement to build innovation capability in a medical device company. Creativity & Innovation Management, 23(2), 183-198.
Undoubtedly, the main beneficiary of such fierce competition is the customer who will be able to choose among several reliable products (http://en.wikipedia.org/wiki/iPod).
Thirdly, iPod has proved to be an excellent consumer-oriented item as it has made available revolutionary features (like modern design, lighter weight, high capacity) to the masses due to the average price established. Thus, in return for a moderate sum of money, people can take with them their favorite songs.
Fourthly, iPod has had a considerable social impact as it has succeeded in warming up human relationships. Steven Levy (2006) suggested that: "Music hits people's emotions and the purchase of something that opens up one's entire music collection...makes for an intense relationship." This idea was also reiterated by professor Katch from the University of Michigan who said that when students saw him with his iPod, "a sort of bounding" occurred (Levy, 2006).
Consequently, the generation gap is overcome and many…...
mlaBibliography
Kahney, L.(2006). Straight dope on the iPod's birth. On the Internet at May 2, 2007.http://www.wired.com/gadgets/mac/commentary/cultofmac/2006/10/71956?currentPage=3.Retrieved
Levy, S. (2006). iPod Nation. On the Internet at May 2, 2007.http://www.msnbc.msn.com/id/5457432/site/newsweek/.Retrieved
Apple wins 5 'World class' Awards (2006). On the Internet at May 2, 2007.http://www.macnn.com/articles/06/05/31/top.100.products.announced/.Retrieved
The 25 most innovative products of the year (2006). On the Internet at: www.pcworld.com/article/id,123942-page,2-c, electronics/article.html. Retrieved May 2.
Essay Topics on Adidas: A Comprehensive Analysis
1. The Rise and Evolution of Adidas: A Study in Sports Marketing
Trace the origins and growth of Adidas, examining its key marketing strategies and product innovations.
Analyze the company's target audience, brand positioning, and communication channels.
Discuss the challenges and opportunities Adidas has faced in the competitive sportswear market.
2. Adidas's Social and Environmental Impact: A Critical Assessment
Evaluate Adidas's commitment to social responsibility and sustainability initiatives.
Examine the company's efforts to address issues such as labor rights, environmental protection, and diversity and inclusion.
Discuss the effectiveness of these initiatives and their impact on....
Introduction
Hook: Begin with a captivating statement or statistic about PepsiCo's significance in the food and beverage industry.
Thesis Statement: Clearly state the main argument or topic of the essay, emphasizing the focus on PepsiCo.
Body Paragraph 1: History and Overview
Discuss PepsiCo's origins, key milestones, and current position as a global food and beverage giant.
Highlight the company's diverse portfolio of brands, including Pepsi, Frito-Lay, Quaker Oats, and Gatorade.
Body Paragraph 2: Competitive Landscape
Analyze PepsiCo's position within the competitive food and beverage industry.
Discuss major competitors, market share, and competitive strategies.
Examine how PepsiCo differentiates itself in the marketplace.
Body Paragraph....
Corporate Level Strategies of Nestlé: Opposing Viewpoints
Nestlé, the world's largest food and beverage company, has employed various corporate level strategies to maintain its competitive advantage. However, these strategies have sparked contrasting viewpoints among experts.
Essay Topic 1: The Advantages of Nestlé's Portfolio Diversification
Proponent Viewpoint: Nestlé's extensive portfolio diversification, spanning food, beverages, pet care, and pharmaceuticals, provides several advantages:
Reduced risk: By operating in multiple industries, Nestlé mitigates the impact of fluctuations in any single market.
Exploiting synergies: The company can leverage its expertise and resources across different divisions, creating cost efficiencies and cross-selling opportunities.
Increased growth potential: Diversification allows Nestlé to....
1. The Evolution of Nestlé's Corporate Strategy: A Historical Analysis
Trace the evolution of Nestlé's corporate strategy from its inception to the present day.
Analyze the key factors that have driven strategic changes, such as market conditions, technological advancements, and regulatory shifts.
Evaluate the effectiveness of Nestlé's past strategies in achieving its business objectives.
2. Nestlé's Global Expansion through Acquisitions: A Case Study
Examine Nestlé's extensive history of acquisitions as a key element of its corporate strategy.
Analyze specific case studies of major acquisitions, highlighting the strategic rationale and outcomes.
Evaluate the risks and rewards associated with Nestlé's acquisition-driven growth strategy.
3.....
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