Developing Innovation and Creativity for Business Advantage
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This report covers the introduction of an innovative product, GPS Helmets, and its targeted customers, competitors, and sustainability. It also discusses e-commerce, marketing strategy, and promotion of the product through social media and email marketing.
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Developing Innovation and Creativity for Business Advantage
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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. Incontextofdemographicalsegmentation,theagegroupofcustomerswhichis 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.
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The company also have an attractive website which will help their customers to reach the website and analyse the benefits of their product and the prices of the product(Busaka, 2019). The website have the open space where customers can ask their questions related to product and the employees at the other end will respond their questions to clear their doubts. Hence, website will help the company to get online orders for their GPS helmets. The company can also sell their GPS helmet through Amazon, e-bay and other e- commerce sites. These are the sites where most of the customers reach to review the products on daily basis. If the GPS Helmet is highlighted on these websites then the customers will collect information about the product and in case they feel interested to buy the product then they will try to contact to company to analyse more information about the product to buy it. Appropriate name for the venture The venture which deals in GPS Helmets will named as “Aid-mets” which is made by two different words “Aid” which reflects medical care and “mets” which is taken from last few alphabets of helmets. Hence, this attractive name for the company will also justify their main product and its purpose to protect the life of human being from accidents at roads and construction sites. Sustainability of innovative business proposition Sustainability is the concept where companies use their natural resources in such a way where the resources will fulfil the needs and wants of current generation as well as future generation. In context of Aid-mets, the company use that hard material for making their helmet which can be decomposed easily and did not harm the environment. GPS helmets are made up of polycarbonate and fibreglass(Castillo‐Vergara, García‐Pérez‐de‐Lema and Madrid‐Guijarro, 2021). The Polycarbonate is considered as environmentally friendly material. On the other hand, the stores will hand over the helmets in paper bags instead of plastic bags to avoid harming the environment. Competitors of the chosen business It is essential for a company to analyse the competitive environment. There are few of the competitors whose names are Heady Helmets, GPA Helmets, Forcite Helmets and many others. They are the main competitors of Aid-mets. These competitors are offering high quality and
good designs of helmets which are having GPS system as well as Augmented reality system within the helmet(Cheah and Ho, 2019). The prices of these helmets are high as compared to other helmets. They choose both online and offline methods to sell their helmets to their targeted customers. They also prefer to make effective relationship with their customers by continuously contacting them and collect information whether they need any help or not. In context of Aid- mets company, they are having unique features from their competitors. The main purpose of this company is to save the life of human beings from accidents. Their competitors are working to gain high profit and they track the helmet for their business purpose not for safety purpose. On the other hand, the prices of Aid-mets helmets are lower then their competitors. This will also help the company to gain competitive advantage. The designs of their helmets are attractive as well as their helmets are present in all sizes. The another factor for the company to gain competitive advantage is that the employees skills to influence the customers to purchase their products only. Effective communication skilled employees are required by the company to influence their customers and make them ensure that their purchase decision of Aid-mets helmets are good for their safety. There are different kinds of issues and problems of customers, a talented employee can solve all the doubts of their customers effectively(Ciriello, Richter and Schwabe, 2018). The company can also make good relationship with their customers by sending the information about their new features in the helmets and others things like their broachers and others through mails. The good thing about the company is that they collect feedback from their customers and ask whether they like the quality of their helmets or not. The feedback will help the company to analyse the factors which satisfy the customers as well as which dissatisfy the customers so that they will invest moreonsatisfactoryfactorsandmodifyandchangethefactorswhichcreatecustomer dissatisfaction. This will further help the company to gain competitive advantage. TASK B E-commerce Today most of the businesses are dealing in e-commerce where they sell their products through online mode. This will help them to create a strong customer base by expanding their targeted customers all over the world. Today, with the help of e-commerce a company based in UK can sell their products in Asian countries easily. E-commerce help the company to aware the
customers about their products and brands at worldwide level. One of the best example of e- commerce is company's website(Coulson-Thomas, 2018). A website is the page which provide all official and true information about the company's products and services. Today most of the customers reach the official website of organisations and collect information from those websites like their mai9n products to sell and their actual prices offered by company to customers. Hence, the companies tries to make attractive and 3easy to use websites for their customers so that they will show their interest to reach the website again and again whenever they needs. Software as a service (SaaS) is the way of delivering application over the internet as a service. Here, companies and individuals are not required to installing and maintaining different software. Hence, they can simply access the software whichever they required directly through internet. There are various kinds of benefitsto use SaaS like it contain low setup and infrastructure cost, it can be accessible from anywhere, it contain the feature of automatic frequency updates, high level of security of data and many others. The Aid-med company can create their own website where they share the designs of their helmets as well as the prices. The website should be attractive and easy to use so that the customers can order helmets directly from the website. They can also sell their helmets through other popular e-commerce sites such as Amazon, E-bay and many others(De Vasconcellos, Garrido and Parente, 2019). The customer base of these sites are huge in number and the frequency of customers reaching these sites are higher than any other e-commerce site. Hence, this will help the chosen company to attract the attention of their customers in effective way. Photograph is one of the most important factor to make a website attractive and easy to understand for customers. Photographs of products of Aid-med will help the customers to analyse how well the helmets will look if they order them for their use. Hence, the company must use good graphics of photos so that customers will able to see clear image of products. Today most of the website is focusing to present virtual reality option within their website where a customer can check that which helmet will look more good on their face. TASK C Promotion of the product Promotion plays an essential role in the marketing of any product or services that covers different types of communication channels, information of the product or service, targeted
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customers of the brand and many more(Guldmann, Bocken and Brezet, 2019). A company can promote their product or services in different ways in order to create customer's attraction towards brand and its offered good or service. In case of Aid-mets, the following are different methods of promotion through which the organisation can promote their brand name and its goods and services: Direct marketing:It aims to reach out the certain segments of the customers in order to communicate them of product or services, new products or upcoming services. It may include direct delivery of email, phone calls and many more. Digital marketing:It involves web advertising or online advertising, such as search engine optimization, content marketing, social media marketing as well as affiliate marketing. Nowadays, organisation can make their connection with a wider range of targeted audience with the help of digital marketing. It is efficient to use as it can operate at global level in a range of minimum time(Han and Bai, 2020). General advertising: It is a promotional method that does not target a specific audience but aims to develop a common knowledge of the brand and its related goods or services. With such, organisation may use magazines, radio, billboards, television and many more to enhance the brand presence. Therefore, by analysing all the above methods of promotion, the company is focusing on social media marketing in which they can use multiple platforms such as Facebook, Twitter, Instagram, Youtube to promote their GPS helmets. It is seen that the company has its specialization on making GPD helmets which helps in trackingthelocationof user. Thetargetcustomersof theAid-metswillbe workersat construction sites and two wheeler users. GPS helmets will support in any emergency and can save the people from major harm. The company can use various methods to reach their target audience(Hazem and Zehou, 2019). They can go either for traditional marketing or even go for digital marketing. As most of the people are using social media platforms to gain a knowledge about product or services, the respective organisation is also focusing on digital marketing to improve their customer base. Hence, social media platform will help in attracting and reaching the target audience. Facebook has been chosen by the company as it contains a large number of audience on their platform which are highly active to enhance their knowledge on something. The company
can be benefited by such digital platform to attract their target audience effectively(Islam and Asad, 2021). The following are some reasons why company should use social media platform to attract their target audience: Use of social media for promotion and advertising:Social media has many benefits for advertising and promotion as the whole world is connected on the social media platform where they can interact, communicate, gain knowledge of anything, sharing experiences and many more(Zhang, Xu and Wang, 2020). Use of social media platform may help in sharing the business goods and services with the target audience. It is used by both kind of online and non-online organisations need promotion to promote their offers to the target audience. Either company can pay or freely promote their good or services to the target audience on social media platforms. The company make use of influencers to market their brand on such platforms. Social media is a good source of up-to-date information: The company also consider the social media marketing as it helps in getting the most up to date news and information about the company and its existing or new offers. Audience may get the most fresh informationandupdatesoncurrentaffairsbyvisitingandexploringsuchdigital platforms(Köping Olsson, 2022). Use social media to drive traffic to the company's website:Social media also helps in driving traffic to the company's website. It is seen that most of businesses using social networking as it helps in making visitors to the company's websites. Such visitors can reach out the websites easily and can read the information about company's products and services and acquire knowledge about them. Paid search engines such as Googlealso helps in targeting and attracting the customers. It is another way of digital marketing where search engines such as Google allow marketers and promoterstoshowadson theirSERPsthatissearchengineresultspages. It develops controllable and measurable marketing channel in comparison with classical way of marketing. In every second, there are million of people are searching something on Google for services, products or answers to their problems(Liao and Tsai, 2019). Hence, this can be taken as an opportunity for the business in order to promote their brand to a relevant and occupied audience that is actively seeking to research or shop their good or service. Paid search involves
an edge of marketing that is if one is typing something on the Google, they may have an intent to purchase or research over something. Aid-mets can use search engine method either through paid or non-paid method in order to be top of the list in the searches by target audience. Due to the following benefits the company should consider the paid search for their brand promotion among target audience: It helps in producing fast results:Paid search helps in bringing the immediate traffic to the company's website from the search engine(Volery and Tarabashkina, 2021).It act as a complementary tactic to aid the efforts of SEO. It helps in gaining improved brand recognition:Paid search engine helps in enhancing the brand awareness over a period of time(Madsen, 2020). It is not necessary that the search engine user may always click on the ad whenever it appears in the SEO results. Whatsoever, the user more often they lookup for connected industry keywords, they more often they will be notified to the respective brand name and link of the website. Role of customer journey map Customer journey map is regarded as a process of developing a customer journey map, a visual content of the user's interaction with the business. It helps organisation to get knowledge into their customer's shoes and look their business from the views of customers. Aid- mets can use customer journey map to gain insights into their general pain points of customers and how such can be addressed by them. The following is the stage of customer journey that can be used by the organisation: Awareness:It is the stage of developing awareness about the products or service to the target mass. In this phase, the target customers of Aid-mets can search on Google to gain knowledge about companies who provide GPS helmets(Marczewska and Weresa, 2022). Consideration:It is the phase where company focuses on the brand promotion. In this phase, customers can compare one brand from another in terms of cost, use, benefits and many more. Conversion:This phase can make or break the customer journey. The promoters of the respective company should focus on their marketing activities in order to be top in the suggestions so that visitors can covert into customers(Meredith, Baxter and Anwar, 2022).
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Retention:After making visitor into potential customer, there is a need to retain customers for the brand by keeping them happy and satisfy with the services or products. These retention process can be important for the organisation as such customer become advocate for the organisation(Moussa, McMurray and Muenjohn, 2018). Advocacy:It covers word of mouth publicity by the customers. Aid-mets should focus on the fulfilling the needs and wants of customers as these can be advocate of the company.Thecompanyshouldnotneglectnegativefeedbackandreviewofthe customers as these can damage the reputation of the name. Customer journey map should be considered by the organisation as it is one of the strategic approach to better acknowledging customer expectations and is crucial for using the experience of customers. It has following benefits to the company: It helps in providing better understanding of customer emotions. It enhances employees along with customers satisfaction. It helps in analysing the stumbling blocks in goods or services. Email marketing: It is a form of promotion method that can be used by the organisation. Through email marketing, the company can make the consumers on their list of emails aware them about the goods or services, related offers, new launches and many more(Naiman, 2019).In case of Aid-mets, the company is using email for their pre-launch activity in order to develop awareness and excitement for the brand. The organisation will focus on meeting the expectations and buzz around the forthcoming set up and develop significant leads as well. In case of Aid-mets, the company can gain following benefits: Strengthen relationship:Through email marketing, the company can gain the ability to be top of the customer's mind and keep them engaged with the company during peak season as well(Najibullah, Luthiah and Muldani, 2022). Reach people on any device:Email marketing helps in gaining the customer's attention due to its involved mobile technology. Almost everyone is using mobile in their hand so it is one of best tool to open an email in which the company's information is contained. I
TASK D Privacy and Data Protection The Data Protection Act 2018 establishes the framework for data protection legislation in the United Kingdom. It replaces and updates the Data Protection Act 1998. On 1stJanuary 2021, it was amended by regulations under the EU Act 2018, to show the status of UK outside the European Union. It supplements and sits alongside the UK GDPR such as giving exemptions which simultaneously covers individual data protection rules for enforcing law authorities, leads data protection to some other areas for instances national defence and security and establishes the Information Commissioner's powers and functions(Nakano and Wechsler, 2018).The DPA 2018controls how an individual information is utilised by businesses, organizations or the government. It is the implementation of UK of the General Data Protection Regulation (GDPR). Every individual accountable for utilising exploiting personal information has to cover strict rules and regulations which is known as “data protection principles”. Therefore, Aid-mets should carefully ensure that the data should be used with following principles: used lawfully, fairly and transparently accurate and must be up to date used for explicit and specified purposes kept for no longer than is essential should be used in a manner that is relevant, adequate and limited to only what is necessary managed in such a manner that makes sure suitable security, covering protection against unauthorised and unlawful processing, loss, access, damage or destruction Also, there is a necessity that the respective organization should be strongly focuses on more sensitive information such as race, religious beliefs, political opinions, genetics, ethnic background,health,sexorientation,tradeunionmembershipandmanymore(Nasifoglu Elidemir Ozturen and Bayighomog, 2020).Moreover, under DPA 2018, one may have a right to identify what data the government or other companies store about an individual. They may consider the right to: have data deleted have wrongful information updated collect personal information
restrict or stop the processing of information object how the information is being used in particular situations Privacy and Electronic Communication Regulations (PECR): It sit alongside with the UK GDPR and Data Protection Act. They facilitate humans with certain rights in context to digital communication. It involves certain rules and regulations with it such as- cookies marketing emails, calls, faxes and texts. Customer privacy as regards traffic along with location information, line identification, itemised billing and directory listings. Through PECR, company can promote good practice by giving relevant guidance and support(Njase and Lambert, 2020).PECR will take control against the business companies that relentless ignore their responsibilities. It is important for the Aid-mets to work under the relevant circumstances and obligations in order to avoid the negative consequences of the company. The privacy and electronic communication regulations are influenced by the GDPR's rules on the purpose of consent. Hence, it is important for the organisation to make sure they comply and follow both legislations if they send digital marketing messages or information to public. In UK, it is found that there are two versions of GDPR after Brexit which requires organisation to follow: The UK GDPR, which with the data protection act, 2018 seeks to the processing of residents' personal data of United Kingdom TheEUGDPRwhichceaselesslyrefertotheprocessingofresident'spersonal information of EU. The ICO or information commissioner office has collect some data for organisations the GDPR which means that people will require to have more access over the personal information along with organisation require to indulge a means in which they can do so. It is all about providing clear and genuine choice to human in order to avoid defaulted elements such as pre- ticked boxes. The following is the discussion based on the GDPR approved consent for marketers as well as to give a transparent image of what makes a complaint of GDPR marketing opt-in. Clear on consent:
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As per the viewpoint of ICO's guidelines, the process of consent should be clear, specific, granular, prominent, documented, opted-in as well as easily withdrawn. In case of Aid-mets, there is a need to consider certain needs to get consent under GDPR. In the first stage, there is a need of separation of other terms and conditions on the website. It is signified as being unbundled. In case of Aid-mets, the company can make it clear and more imperative in what they are asking of a person, without making any confusion by other data(Ovbiagbonhia, Kollöffel and Brok, 2019). Active opt in: It is prominent to use such kind of consent option on their website of respective organisation. For instance, a person will enter their email along with choose a checkbox to get a subscription to something the company have provided such as newsletters, blog posts and many more.In such manner, the organisation can have absolutely definite that they are actively opting-in together with consenting. Granular: It is where the organisation give a range of consent for various forms of processes such as one could have their consent divided into various segments such channels like email or telephone. Easy to withdraw: It is is easy and fast for a person to provide consent then the consent withdrawal procedures should be just as easy and quick. In context to Aid-mets, if the organisation do not want to lose any of their contact, then must provide the option to opt-out. Right to erasure: It is also known as “right to be forgotten”. It is seen that many organisations do not yet provide a way to delete the personal information of an individual in a permanent way. If the organisation do offer such thing, then they will be in line with the GDPR exercises(Quaye and Mensah, 2018). Security of Data: Data security can be understood as the process of protecting electronic information throughout its entire life cycle to protect it from theft, corruption or unauthorised access. It encompasseseverythingsuch asstoragedevices, hardware,usedevices, storagedevices, administrative and access controls along with business policies and procedures. In order to
secure data in a digital form there is a need to use tools and technology that improves visibility of a business' data and how it is being exploited. Such tools and technology can support in data protection through processes such as encryption, data masking as well as redaction of sensitive information(Sanasi, Ghezzi, Cavallo and Rangone, 2020).In case of Aid-mets, the process can support business streamline their auditing procedures and follow with progressively rigorous data protection regulations. Also, it will support data from cyberattacks. Furthermore, it will help in mitigating the risk of insider threat and human error. As the organisation works for their customers in order to fulfil their demands and wants, for which they gather their customer's information and data such as their email address, phone number, addresses and many more. Company is legally bound to protect the information of their customers from being stolen, lost and ending up in the wrong hands. Data security helps in preventing the reputational risk that locomote the breach of data. If the customer data is lost or hacked can result in losing the trust of potential customers. It may also deliver negative consequences such as legal payments, financial losses or fines, damage repair in case sensitive data. Cloud security covers the procedures and technology that protect the cloud computing surroundings against both internal and external cybersecurity threats(Shafique, Ahmad and Kalyar, 2019).Cloud computing signifies the delivery of IT services over the internet has become an essential for the companies looking to intensify collaboration and innovation. It helps in preventing unauthorised access to the data which are needed to keep information and applications in the cloud secure from existing and rising threats and challenges of cybersecurity. In addition to Aid-mets, the following are some ways through data can be protect from being stolen or theft: Use strong passwords:There is a need to have strong password for each and every account, particularly when it comes to protecting accounts' private information. Most of the time, cyberattacks are come into force due to effect of weak passwords due to which one can easily hack the account. Therefore, it is important to have strong passwords which is never shorter to to use and contains 15 or more characters for the better protection of data. User may avoid identifying information such as name, company's name, birthday and much more that are close to them. Use two-factor authentication:When given with the choice, use must use two-factor authentication which signifies that anyone who signs into the account will require
information along with password. It may cover answering a secret question, inputting a code that cloud provider texts or email, giving a personal PIN number. Encryption is a cybersecurity measure helps in protecting both kinds of information such as private and personal. It is done through the exploitation of unique codes that scuffle the information and make it impracticable for intruders to feature(Stojcic, Hashi and Orlic, 2018).It also makes sure that an business' private data is secured even attackers get foregone the firewall. Companies such as Aid-mets are gathering a range of private user data in order to secure the data from acquiring into wrongful and unauthorised hands, business need to make sure that they encrypt their data in their ownership. At-rest encryption is exploited to make data unclear on a disk without having the key of encryption. For the in-transit encryption, when information is protected as it moves around internet and network to its end destination. The types of data is secured but is not limited to, covers passwords, credit card numbers, social security numbers, bank accounts, addresses and amny more(Thayer, Petruzzelli and McClurg, 2018).For the best outcome, the respective organisation can ensure that they have both “at rest” and “in transit data” encryption. It helps in translating the plaintext information into unclear information, also known as cipertext. It is important to data encryption in the business as the hackers and cyberattackers can easily access the communication mediums and collect the information that is in transit with the help of data extraction techniques. For example, brute force. Hence, it can be said that encryption of data is important for any organisation, whether they are big or small. To secure the information and business resources, encryption in transit and at rest are the suitable methods secure unauthorised users from using the information(Ulku and Bektas, 2021). CONCLUSION It has been concluded from the above stated report is that every business requires innovation and development of new goods and services in their business. A GPS helmet has been introduced as an innovation which supports in gaining customer's attraction towards the brand. It has many new features which has been introduced in the report. STP helped in understanding the target customers of the brand. Different promotional methods have been found in the report such as email marketing, social media marketing, SEO and many more. It is also understood that the security and confidentiality of the customer's information is very important for the organisation as neglecting such aspects can damage the brand's name and trust of customers at the same time.
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Some rules and regulations have been imposed in this report which must be implemented by the company.
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