Marketing insights from a to z 80 concepts every manager needs to know – part 2
➤ Gửi thông báo lỗi ⚠️ Báo cáo tài liệu vi phạmNội dung chi tiết: Marketing insights from a to z 80 concepts every manager needs to know – part 2
Marketing insights from a to z 80 concepts every manager needs to know – part 2
nnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 die. Given that only 20 percent of consumer packaged goods introductions are successfill and maybe 40 percent of new business-to-business products are successful, the odds are discouraging.Yet innovation is a safer bet than standing still. The key is to manage innovation better than your competitor Marketing insights from a to z 80 concepts every manager needs to know – part 2 s. Innovation and imagination must be made into a capability', as it is at 3M, Sony, Casio, Lexus, Braun, and Honda. These companies have been calledMarketing insights from a to z 80 concepts every manager needs to know – part 2
“product juggernauts" in that they run product development as an ongoing and interactive process, with the manufacturer, sales force, and customer allnnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 g idea development, idea screening, concept development and testing, business analysis, prototype development and testing, test marketing, and commercialization. The company needs to build in or acquire the competencies needed in each step of the process. And it must appoint a well-seasoned leader o Marketing insights from a to z 80 concepts every manager needs to know – part 2 f the innovation process.Gary Hamel holds that innovation can be a strategic capability,8384 Marketing Insights from A to zjust like in some companiesMarketing insights from a to z 80 concepts every manager needs to know – part 2
quality is a discipline.38 Innovation is not achieved by a two-day brainstorming session. Success requires deseloping three markets within the firm: nnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 nvestments in promising new ideas; and it must attract the talent necessary to implement these ideas. And those who contributed the ideas, capital, and talent should be rewarded.Innovation is not limited to new products or services. It includes thinking up new businesses and business processes. Nest Marketing insights from a to z 80 concepts every manager needs to know – part 2 le sells coffee in the groceries but it was Starbucks that thought up a new way to retail coffee. Barnes & Noble thought up a new concept for a physicMarketing insights from a to z 80 concepts every manager needs to know – part 2
al bookstore, and Amazon thought up a brilliant system for selling books online. All of the following were major business innovations: Club Med, CNN, nnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 ement and discontinuous innovation. Continuous improvement is essential, but discontinuous innovation would be even better. A greater sustainable competitive advantage can come from discontinuous innovation, albeit at a much greater cost and risk. 1 he risk comes from several facts: The technology i Marketing insights from a to z 80 concepts every manager needs to know – part 2 s evolving, there are competing technologies, the market is ill-defined, there is no delivery infrastructure, and timing of completion is difficult. FMarketing insights from a to z 80 concepts every manager needs to know – part 2
urthermore, marketing research is of little value. Discontinuous innovation hurts the bottom line in the short term, and it may not help the bottom linnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 should companies go to get new' product ideas? A marketer’s normal answer is to ask customers what they need. Done right, this can yield useful ideas, but probably incremental rather than breakthrough ideas. Consumers would not have answered that they wanted a PC, Palm, Walkman, wireless phone, or Marketing insights from a to z 80 concepts every manager needs to know – part 2 camcorder. i\kioInnovation 85Morita, Sony’s late CEO, said: “There was no need for market research. The public does not know what is possible. We do.”Marketing insights from a to z 80 concepts every manager needs to know – part 2
39The truth is that ideas can come from anywhere, and not only from customers or the lab. Every firm is a potential hotbed of ideas, except the compannnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 ployees could send their ideas? The idea manager has a committee that finds the better ideas and rewards those whose ideas the company implements. The Dana Corporation, for example, expects every employee to place two ideas a month into the company’s suggestion box on any improvements the employee s Marketing insights from a to z 80 concepts every manager needs to know – part 2 enses, whether in selling, purchasing, energy use, travel, or other areas.Companies that expect mild improvements can usually get them. The trick is tMarketing insights from a to z 80 concepts every manager needs to know – part 2
o ask for a huge improvement. Instead of a 10 percent reduction in costs, ask for a 50 percent reduction in costs. Instead of a 10 percent improvementnnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 tead of only squeezing out a little more from the present operation.Every business should examine its innovation index. This describes the proportion of its sales derived from products less than three years old. No company will survive with a zero innovation index. A traditional business w ill have Marketing insights from a to z 80 concepts every manager needs to know – part 2 a hard rime if its innovation index isn’t at least 20 percent. Iligh-fashion clothing businesses need at least a 100 percent innovation index to succeMarketing insights from a to z 80 concepts every manager needs to know – part 2
ed, rhe message: Innovate or evaporate. (Also see Creativity, New Product Development.)□tangible AssetsThe modern balance sheet is a lie! It omits thennovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 a company’s plant, equipment, inventory, and working capital hardly reflects a true value of a company.For example, where is Coca-Cola’s brand value on the company’s balance sheet? Coca-Cola’s brand value is estimated at $70 billion. Where is the value of its customer base? It's the satisfied custom Marketing insights from a to z 80 concepts every manager needs to know – part 2 ers who repeatedly purchase from the firm who constitute a major asset. Where is employee value'. Having better employees than rhe competition will spMarketing insights from a to z 80 concepts every manager needs to know – part 2
ell the difference between having superior profits and average profits. Where is partners value' Loyal suppliers and distributors can make a company, nnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 the company's major assets.No wonder there is often a huge gap between a company’s market capitalization and its book value. The gap reflects the value of the intangibles. For example, AmericaOnline’s book value in 1999 was only 3.3 percent of its market capitalization. Thus 97 percent of AOL’s valu Marketing insights from a to z 80 concepts every manager needs to know – part 2 e was not on the balance sheet.86International Marketing 87Companies would be wise if they start identifying and assessing all their marketing assetsMarketing insights from a to z 80 concepts every manager needs to know – part 2
such as their brands, customer relationships, employee relationships, channel relationships, supplier relationships, and intellectual capital, rhe comnnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 ning physical property can be a liability. All a company needs is access to physical assets. To operate as a lean company may call tor decapitalizing—outsourcing activities and shrinking working capital. The Sara Lee Corporation, for one, thinks that it is better to own brands (Champion, Coach, Hane Marketing insights from a to z 80 concepts every manager needs to know – part 2 s, Playtex, Hillshire Farm, and others) than factories.nternational MarketingA company that masters only its domestic market will eventually lose it.Marketing insights from a to z 80 concepts every manager needs to know – part 2
Strong foreign competitors w ill inevitably come in and challenge your company. ĨI is now business without borders.One of the best grow th paths for annovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 ces, cultural differences, devaluation and exchange control risk, and bribery.But there are also gains. By going abroad, companies actually diversify their risks by not depending on only one country’s market.88 Marketing Insights from A to zIn fact, the market for their products and services may be Marketing insights from a to z 80 concepts every manager needs to know – part 2 mature at home and growing abroad. Furthermore, these companies will be stimulated to improve their products as they compete in new situations againstMarketing insights from a to z 80 concepts every manager needs to know – part 2
new competitors.But companies must adapt their products and marketing mix when they go abroad. Asea Brown Boveri (xABB) uses the slogan: “We arc a glnnovationFirms face a dilemma. If they don't innovate, they w ill die. And if they do innovate—and their innovations are not successful—they may also Marketing insights from a to z 80 concepts every manager needs to know – part 2 ng they don't sec, we globalize.”When naming its new products, a company must make sure its name will travel internationally. Chevrolet named its new car Nova, nor realizing that in Latin America no ya means “doesn't go."Companies usually evolve globally through five stages: (1) passively exporting, Marketing insights from a to z 80 concepts every manager needs to know – part 2 (2) actively exporting using distributors, (3) opening sales offices abroad, (4) setting up factories abroad, and (5) establishing regional headquartMarketing insights from a to z 80 concepts every manager needs to know – part 2
ers abroad.Gọi ngay
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