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  • Subject area(s): Marketing
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  • Published on: 14th September 2019
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  • Number of pages: 2

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1. Product innovation; am entitled to make a development and market introduction for my focal innovation service. This includes the invention which is technical its specification and quality capabilities associated with the service whereby various components and material and desirable functions too are to be created for that specific service. These include the techniques, methods, process and even the initiatives for making some incremental improvement to the current market and services. Thus it is associated with evolutional changes of he predicts as it is designed to melody prevailing organization abilities and technologies which are game changers.

Process innovation; considering market innovation in my focal innovation it applies as I try to implement a new service delivery method which involves some significant technologies through changes, software ware, and design and equipment too. These changes, tend to result in production increase for service capabilities in the entire technical system whereby some of this kind are existing hence ceasing to apply a process which is simple in extension and capital replacement, some changes on casing affecting the price factor, regular season and customization plus the social changes, trading for the new or established products tend not to be consider in my innovation case.

Marketing innovation; for my focal innovation, the major part covers the management and the activities much contribute towards market success promotion for my new service and associated products. By considering that the actual mission and task for innovation is the success of the market, it turns to be clear that my innovation marketing contributes a significant role through the innovation process. Hence it includes some variety of tasks particularly the entire activities which are to market and customer orientation which enables the successful marketing for my focal innovation. Therefore, in my case, the front end innovation process, the inaction am marketing plays a role in identifying the new market future opportunities and the research regarding the needs of the customer.

Organization innovation; for my foal innovation this comes in the form of organization method which undertakes business practices, external relations, and workplace organization. Hence the changes in the workforce, business places, and the external relations are based on the methods which already in application when undertaking the changes within the management acquisitions, managers and strategy accessing to the process use, extension or replacement, whereby the changes impact to me though form of changes for the factor prices, regular seasons  plus various cycle changes for organization innovation accommodation within my focal innovation (HENGSBERGER, 2018).

There are discontinuous from the usual practice. There is also result from the shift for the underlying organization assumptions. And new pathways are provided for tracking the public value.  Hence making my focal innovation to be one of its kind, focused and goal oriented to satisfy the customer into high levels.

2. My product is primarily pushed – it is pressured by the developing technological aspect. Thus it needs enhanced technology so that it can fit in the market. In comparison with the competitors, the ideal product is the one which can serve the client with less effort and less time consumption. Hence efficiency is the key thing for this service. The customers have to be satisfied whenever the products make their work easier. Considering that the world is dynamic every day some things erupt forcing either upgrading of the existing ones or their end. In this case, my product is, therefore, a technology push since being driven to come up within an automatic door lock sensor. This is all about security and to enhance its efficiency is to enhance and also needed to utilize technology because it is being adapted to everywhere in the world. In this case, being influenced to give positive cages within the technological world.

3. My focal is primary technological innovation – considering that it involves programming approach, and then it drives any user in a technology model. With this, the high demand for new discoveries and development too. My service is entitled to be utilized through a technological approach. Hence assisting the users to convince when using their gates, doors and another similar kind of gate passes. Since it is designed to save time, the approach is therefore approachable in a technological aspect on both designing and programming and even for its usability. Lastly, being designed to notice whenever there is a passerby, and being able to recognize the time details for its operation. Thus the model is more of technological assistance. With it, the users are assured of one of the most significant technology which makes their life more convenient when operating, the entry and exit points within their houses, cars, etc.

4. My focal innovation is a closed innovation; In this case, my innovation is structured by using the internal resources, actually during the innovation process, I evaluated my ideas whereby I selected the best and the most promising ones for the commercialization and development. For the ones which indicated less possibility, I abandoned them. Actually, the inventions, ideas developments, and investigations were required to put the product within the market which was generated within the company.  Thus, for my case, my innovation based upon the innovation view which developed within my company itself. From the ideas generation to development up to marketing, thus the innovation process happen excessively just within the company. Having all these links connected just from the company itself thus in general my innovation can be referred to closed innovation.

5. Having in mind that my innovation is built upon technology, the management got a high contribution to influence on the pace of diffusion. The outmost aspect is the design in which the service operates. For the supply side, the innovation is directed toward flexibility and therefore convenient supply which satisfy the market. Having enough and accessible services promote the invitation model to another level whereby the consumers gets to know the product due to its convenient supply. Therefore making my product to have good recognition within the market as I need.

6. On the other hand, pertaining to the demand side. The management got influence over the demand, in this case, the innovation is mostly subjected to fulfill the urge of the clients. Based on the appropriate measures to have all the needs covered, the pace of diffusion is subjected towards bringing the service at the foremost satisfaction. This derives the management influence even to other new markets.  

7. In my case, the focal innovation can benefit from a fast mover. This is due; a unique breakthrough for my research and development. The innovation has to provide a sustainable cost advantage for my early participation because the technology and the learning curve to get it may be kept modesty and the company has to maintain leadership for the market share. Even though innovation diffusion may diminish my fast-mover advantage for a specific time, through workforce mobility, the research publication, the informal technological communication, plant tours, and reverse engineering Nevertheless, as the technological pioneer I can protect the research and development through patents. Nevertheless, the patents will confer strong protection, and hence hard to invent around, or even have the transitory value issued the technological change pace. Therefore, for my innovation, I expect to maintain and improve; the economies of scale-  since the innovation got a longer learning curve which can often allow a more cost-efficient means for delivering the service prior it compete with other.

The brand name recognition.- since it has to draw the client to the company services even after my innovation enters the market. And switching cost-  by allowing the focal innovation to establish a strong business foundation. Since when the client has purchased the service user to a rival service can be a cost prohibitive. Hence, according to my belief and understanding, I believe that the all these advantages will be durable since the innovation is one of its kind and it is unique within the market venture ("First Mover Advantage - Benefits & Drawbacks of Being First," 2018).

8. My focal innovation can be imitated. Though it is not that easy, I understand that programmers can try their best try to configure a code which can work almost to my focal innovation. Therefore trying to make a program which runs almost similar to mine. This can confuse the clients, and thus it can be considered to be a service or product imitation. Its due to this reason, I have to patent my service so as to enhance my product right and is anyone tends to use it without the user patented right, then it is prohibited. Thus my work and efforts have to be recognized and be used to bring profit to me and not others.  Minding about the evolving technology than what is on today will be different tomorrow in term of development, more skills are being developed. This can create an opportunity to discover my focal innovation on how it runs by using the available technology which can make my work to be copied easily.

9. There are some necessary complementary assets regarding capabilities and infrastructure so that there is support for successful commercialization and the technological innovation marketing, rather than those assets which basically connect to my focal innovation. Additionally, considering that smart technology deals with a broad inquiry are from the complex gadgets by utilizing sensors and optoelectronic to monitor the structural integrity into the research molecular intelligent materials.  On the other hand, it includes commentary services since these services tend to sell together. Actually, the demand for one interprets as a demand for the other one. Thus in my focal innovation, it is a fundamental concept of economics which is used as a service strategy. These are present to help me develop good structure and help to maneuver within the market. In the end, I will archive my goals by giving desired services with great technological aspect ("What does complementary assets mean?", 2018).

10. My focal innovation can be protected by patents.  This is to secure my services and thus giving me as the owner the full control over it.  Thus I hold the right to prohibit others from making my technology. Hence creating chances for me to license, sell or trade my patented technologies to individual or group who need to use it.  Thus by obtaining a patent, is that my technology is useful and nor usual, it is (novel)new, Actually, its patent portfolio includes monetary benefits which include the market position for the revenue and portfolio holder from licensing the entire property. I this case the associated none monetary benefits include the strategic advantages like the defense and the first mover advantages against to the rival holder. Thus, being in connection to a patented portfolio helps to encourage investment.  Lastly, maintaining my focal innovation as a trade secret. The patent is to ensure my work is recognized and cannot be reused as beneficial to someone who is not a contributor. Since  I value my efforts, time spent and skills, I have to secure my work and to identify with other people works. Therefore, life my focal innovation is a great tool of work which I hope I will serve with to my clients to the eely best and also continue upgrading for more versions("GreyB," 2018).

11. My focal innovation can be considered as disruptive innovation because it creates some new market and network value and lastly it disrupts, products, displacing the established market-leading firms,  the current market and the value market and the alliances.  My innovation can also be considered to be a new one in the market also. The struggles to penetrate in the market is a bit huge one; profits are not maintained ad re low since the development tends to take scarce resources away rather than maintaining he innovation. Therefore making it to be disruptive. Since it takes longer and it got higher incremental innovation forms.  However, by penetrating the market, the impact is of higher degree, and well-established market are experienced. All its traits are significant and make a different world when it enters in the market while compared to other rivals. This ideal feature which makes it great identifies it and when penetrating to the market, every participant existing in that market have to feel it.

12. External value

By using the above diagram, it helps to represent the entire internal activities in which the firm engages in order to produce the services Thus it is a formed od primary activities which tends to ass value to the final service as a product, and it supports the activities which ad value even indirectly.

13. My focal innovation value proposition, offering automatic locks

Without clearly saying so, my focal innovation proficiently highlights on anything which sucks about traditional door locking, mechanisms and points out how it is great. The modest (but extremely effective)it outstandingly conveys the effortlessness and ease which lies on the heart of what it takes for a tempting service. Just by exiting the door closes, by entering the door opens. The recognition uses eye detection. Everything about this is direct contrasts to the full experience of the user, no obstruction, no inconveniences and no struggles relating to making entries. Just to be fast and efficient by continuing with your business, this is subjected through an aspirations text on my websites page, which starts that “convenience is our modest; your time belongs to you." At this juncture, it is worth to compare my service value to the proposition to that of my rival company xenon. Therefore, customers enjoy the ideal technology for all the convenience and time saved without disruption experienced while using the program.

14. In my case, there are several revenue models, this includes; transaction revenue model- being a tech-based, I strive to depend upon the transaction model for reasons which favors my side. And also oriented to support the users hence more of them are attracted because of the wider set options and simplicity.  The other one includes direct sales model whereby the clients calls requesting for services and hence making a face to face transaction. In this case, we work under great connection as the related sales cycle, and the complex sales cycles which involve various multiple influencers and buyers.  Next  one is the freemium model, in this case, it involves the basic levels or prices which are somehow free thought the users have to pay the extra fee in order to get some premium functions and features, etc.  thus it offers some little free to the users whereby thy taste the opportunity of eh services as the service simultaneously incite them to make a purchase for an upgraded version.  Lastly, retail sales. In this case, I set a traditional retail store whereby the customers on a physically look for services. And therefore implementing logistics in order to reach to the clients. Thus it is a great way to compliment ad deal with services for the existing customers who help in boosting the brand popularity.

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