ExploringInnovation
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ExploringInnovation
Asuccessful businessperson explores innovative ideas that are designedto translate inventions, products or services so as to create valuethat appeals to customers. These innovations have to satisfyclients’ needs and expectations at a cheaper cost. According tothe Case Study, two levels of innovations are identified. Theyinclude incremental and the radical innovations. Incrementalinnovations are advancements that are designed to incorporateprogressive elements in a product and meets clients’ expectations(Miles, Gilmore, Harrigan, Lewis, & Sethna, 2015). On the otherhand, radical innovations are developments adopted, but they are notappropriate in the project. A classic example of incrementalinnovation given in the Case study is the development of ‘oillight’ to ‘LEDs lighting.` The development initiated in oillighting advanced to curve light and gradually into LEDs lighting. The incremental innovation done is preferred by organizations sinceit is well lit thus, smoothening daily operations. It is also notedthat LEDs lights are brighter as compared to oil lights. Furthermore, lighting signals used in administrations and operationalunits helps in marketing businesses as compared to other lightingsystems. Essentially, items developed using LEDs lights are powerfuland viewed as a better alternative.
However,some innovations are radical and often discontinued for they areunsustainable or inappropriate. Some are appealing according toinnovators, but it is contrary to customers and the market as awhole. An example of such broken advancement cited in the studyincludes oil light irregularity. The anomaly of lighting is familiarwith innovation thus, it may not give clear and decent impressions. Secondly, these changes require a decent plan in decision-making andimplementing options. This is attributed to the fact that customers’expectations vary and every client’s needs have to be catered forand within stipulated time. In conclusion, any innovation that isexpected to meet customer’s demands has to be crafted according toclient’s requirements so as to enhance business relationship. Thisis instrumental in marketing because it determines sales volumeprofits made, and ultimately, win customers’ loyalty (Miles et al.,2015).
References
Miles,M., Gilmore, A., Harrigan, P., Lewis, G., & Sethna, Z. (2015).Exploring entrepreneurial marketing. Journalof Strategic Marketing, 23(2),94-111.
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