Developing Innovation and Creativity for Business Advantage

Developing Innovation
and Creativity for
Business Advantage

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK A...........................................................................................................................................3
About the product........................................................................................................................3
Identify targeted customers.........................................................................................................3
Where and how to sell product....................................................................................................4
Appropriate name for the venture...............................................................................................5
Sustainability of innovative business proposition.......................................................................5
Competitors of the chosen business............................................................................................5
TASK B...........................................................................................................................................6
E-commerce................................................................................................................................6
TASK C...........................................................................................................................................7
Promotion of the product............................................................................................................7
TASK D.........................................................................................................................................12
Privacy and Data Protection......................................................................................................12
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................18
Books and Journals:..................................................................................................................18

INTRODUCTION
Innovation and creativity is key to success for an organisation. Innovation will help
organisations to attract more customers toward their brand and with the help of innovation the
companies can enhance their profitability. Today, customers are expecting innovative products
and services to resolve their issues (Aboramadan, Kundi and Farao, 2021). Hence, high quality
and affordable prices are one the key requirement which need to follow by companies by
adopting innovation. The following report covers introduction about the innovative product, e-
commerce, marketing strategy of chosen innovative product and privacy and data protection.
TASK A
About the product
The innovative product which is chosen is related to helmet which is used to wear at the
time of driving by two wheelers and the helmet which is used by construction company
employees. The name of this helmet is GPS Helmets. The speciality of this helmet is that it is
having a chip which works as GPS system. In case of accident while driving or at construction
site if helmet gets damaged then directly this signal will be arrived by nearby hospital so that
ambulance will arrive at the accident site as soon as possible so that the harmed individual will
get medical treatment as soon as possible. This will help to save the life of people due to read
accidents and accidents at construction sites. This company will also take the permission from
government because for the effective implementation of this plan, the company is required to
make sure that almost each hospital of a country will have the device to track the accidents near
their location (Awan, Sroufe and Kraslawski, 2019). The range of catching the accidents is
approx 4 kilometres and in case the accident is reached by 2 or hospitals then the device will
decide that which hospital should send their ambulance at the accident site. This information will
be arrived by other hospitals within the range of accident that which hospital is sending their
ambulance at accident site.
Identify targeted customers
It is essential for every organisation to identify their targeted customers. As per the GPS
Helmets, their main targeted customers are those who drives two wheelers and who are working
at construction sites. STP model is used to identify those customers for the company which will
provide benefit to company and the application of this model is mentioned below-

Segmentation- This is the process of dividing huge market into sub sections so that
company will identify that which segment of market is beneficial for them (Bashir and Verma,
2018). As per the company producing GPS Helmets, they can segment their market into different
sub sections like demographical segmentation, geographical segmentation and behavioural
segmentation.
In context of demographical segmentation, the age group of customers which is
segmented by the company is 14- 34, 35-54, 55 and above. The income level segmented by
company is middle and low income earning people. In context of gender then the company
segmented their market for both male and female customers.
In context of geographical segmentation then the venture basically start to sell their
product within UK especially in London and Birmingham later on the venture is targeting to sell
their product all over the world (Binsawad, Sohaib and Hawryszkiewycz, 2019).
In context of behavioural segmentation, the venture is targeting those customers who are
loyal and who care for their safety.
Targeting- This is the process of choosing one or more segmented groups out of various
alternatives which will provide benefit for organisational growth. In context of GPS Helmet
producing venture, the company can target any age group with both genders male and females.
In context of income level then they can target low income customers easily due to the low price
of their GPS Helmets. Recently the company will target their home country for offering their
products. In context of behaviour, then the venture will target loyal customers who concern about
their safety.
Positioning– This is the concept where company mainly promote their product. In
context of chosen venture, they can promote their GPS Helmet through social media platforms
such as Instagram, Facebook and many others (Burns, 2020).
Where and how to sell product
The GPS Helmets are sold by various ways which are mentioned below-
 Physical stores of the company will be located at different corners of the city especially
crowded areas. This will help the customers to reach the stores without facing any
travelling issues. It is also planned by the company to open their stores within rural areas
so that the small town people will also buy their products.