How should I organize to enhance innovation outcomes in my firm?What determines when I should make vs. buy? Is there a viable business model in which I caneffectively outsource innovation and just buy the ones I see as successful? Can I still "win"financially by making such purchases and acquisitions? If so, how?Firms like Netflix, or even personal brands such as Madonna and Justin Timberlake, havesuccessfully managed across two time periodsIn effect, they have re-invented themselves to "fit" into a new competitive space. What can welearn from these firms or brands?

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Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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What is Business Model Innovation (BMI)? How can it help businesses remain competitive?
In the face of growing uncertainty and intensive competitive, companies should be focusing on the lifetime value of their customers. There's a counterintuitive but convincing argument for investing in technology to improve internal processes and revamp portfolio of products and services. But simply buying or implementing technology won't give you an advantage. Marketers have to use technology to transform their strategies so you can "accelerate through the turn." What makes advanced technology environment different from previous ones? And what technological investments would you make to build customer loyalty in the near future? Be specific and give examples.
In relation to the increase in the demand of face masks due to COVID-19, create a brief company history (hypothetical) that includes the following: - Reason why your company was established - Founders brief profile - Company's major turning points - Notable events that happened along the journey of the business
"Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)." With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.
Part One: Indicate whether the following sentences are true or false: One level of incremental / radical innovation concentrates on causing a fundamental transformation in the resulting products or services and transforming the market place and/or the economy as a whole.
Read the case below carefully and answer the following questions. Big Data, Big Business, Big Opportunities Imagine working 10 years to become the lead marketing executive at a large retail organization only to find that your competitor is invading your market share by 20 percent each year. You quickly decided to launch several online marketing promotions while improving your products, but find your efforts are fruitless as your competitor continues to steal your customers, destroying your profits while raising its own. As you begin to analyze your competitor's business strategy, you find that while you were focused on sales reports, product inventory analysis, and other traditional marketing efforts, your competitor was making a massive investment in upgrading all of its management information systems. This included systems capable of collecting, storing, and analyzing data from every store, product, and sales representative in the market. In fact, your competitor now knows more about…
Discuss the main points of your Five Forces Analysis on the toy industry. What are the keysuccess factors in this industry? Explain which of the forces represent major negative forces foryour client Lego? Which of the forces signify opportunities? Explain your answer.
What tests are performed with artificial intelligence in marketing and how?
What is apples revenues, profitability, and market value?
3-5. How does technology impact customer value?
Select an existing company in any industry, and identify the following points: Introduction: Describe the company, its industry, and its business context Critical incidents: Include any strories of any organization challenges or achievements. How did it overcome the challenges? How did it accomplish its achievements? Investment potential: Include any of its current issues that need to be addressed or its potiential goals for growths Conclusion: Would you invest in the company why or why not?
In order for a market to exist, the following five criteria must be met; and if these criteria aren't met, what are some things that a person/organization can do to prevent this from happening?

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