Innovation comes from identifying customer's need and providing solutions that meet those needs. Give any example of a products/service that needs innovation that will provide a solution to a customers want and needs
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- identify a problem or need in the market that is currently unmet or underserved. Brainstorm innovative solutions that could address the identified problem or need.There are many ways to look for ideas. We are told to read a lot, talk to people, and consider such questions as: What limitations do you think exist in current products and services? What would you like that is not available? Are there other uses for new technology? What are innovative ways to use or to provide existing products? In Australia in 1996, two entrepreneurs founded Aussie Pet Mobile Inc. to bring petbathing and grooming to busy people’s homes. It is now a top U.S. franchise business. Do you think society changing with likes and dislikes? What groups have unfulfilled needs? What about people’s perceptions? Growing demand for healthy snacks created many business opportunities in the United States, for example.A company in the consumer electronics industry is experiencing a decline in its market share due to increased competition and changing consumer preferences. The company's products, once popular, are now losing traction in the market. Why should the company do PRODUCT INNOVATION AND DIFFERENTIATION? Intro Body Conclusion Please give a real-life example
- List 3 problems and the innovation(s) that addressed them. Provide a list of references to support your answers.Type the correct answer in the box. Spell all words correctly. Which business model sells goods or services to buyers who then resell or use them for business purposes? The sell goods or services to buyers who then resell or use them for business purposes.If a company seeks to be unique in a fashion segment of a footwear manufacturing industry, effectively communicates the value to the buyers, it apples the following strategy: cost leadership diversification differentiation
- A marketing plan may be included as part of a larger business plan. A solid marketing strategy is the foundation of a well-written marketing plan that will allow goals to be met. While a marketing plan contains a list of actions, it is useless to a business without a solid strategic foundation. The marketing plan will assist in determining who the target market is, the best way to reach them, the price point at which the product or service should be sold, and how the company will measure its efforts. Construct a marketing plan for your organization using marketing model canvas.Increasing and optimising customer loyalty and retention is a major part of any successful business strategy. Please provide two examples of companies that use this strategy and explain why they do so.The problems that a company faces can be used as opportunities to Select one: O a. phase out products O b. innovate products Oc. close the business O d. imitate the products of competitors
- Who is currently purchasing your products or services? Explain your answer. What audience will be interested in purchasing the product in future? Explain your answer. Where would individuals purchase your products or services from? Explain your answer. Who is the main competitor? Explain your answer. What upgrades could be made to your products or services to make it better? Explain your answer.As a marketing consultant, a prospective business man has approach you to advise him on his intention of venturing into the market with a new product. 1. Illustrate to him the potential stages of the market his product needs to survive to be successful on the market.A company with a product in the decline stage of the product life cycle might decide to __________ if it has reason to hope that competitors will exit the market.