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Marketing Design and Innovation Assignment

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Added on  2020-04-13

Marketing Design and Innovation Assignment

   Added on 2020-04-13

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Running head: WRIGLEY’S ORBIT IN UKMarketing Design and Innovation[Wrigley’s Orbit in UK]Name of the student:Name of the university:Author note:
Marketing Design and Innovation Assignment_1
1WRIGLEY’S ORBIT IN UKExecutive summaryThe study is aimed at understanding the importance of innovation with an example fromWrigley' Orbit. Orbit is highlighted as a highly successful product in UK. The paper traces thesuccess story back in the year 1899 when Orbit was first launched in UK. The paper thenhighlights few important achievements that Orbit has achieved in respective years. The productis being shown as a venture that identifies the existing trend and effectively produces the mostrelevant products.
Marketing Design and Innovation Assignment_2
2WRIGLEY’S ORBIT IN UKTable of Contents1. Introduction:................................................................................................................................31.1 Short background of Wrigley:...............................................................................................32. Objective:.....................................................................................................................................4Part A- Consumer Trends for the year of launch:............................................................................4Part B- Finding links between consumer trends and product launch:.............................................5Part C- Extensive assessment:.........................................................................................................7Part D- Success of new product:......................................................................................................9Conclusion:....................................................................................................................................10References:....................................................................................................................................11
Marketing Design and Innovation Assignment_3
3WRIGLEY’S ORBIT IN UK1. Introduction: Innovation can be defined as a continuous process, which is implemented inorganizational practices to increase the product line and to inspire customer’s perception either inan existing or a new market (Anderson, Potočnik and Zhou 2014). Market performance ismeasured through various parameters such as varying nature of market shares, profitabilityventure, increasing or decreasing the number of customer base and a fluctuating behavior ofsales & revenues (Ketkar et al. 2012). Innovation is strongly related to market performance. Itreally impacts the behavior of market performance; however, the impact could be both positiveand negative. When innovation brings a new product or a new service it may or may not besuccessful. Moreover, the market performance may produce a positive or a negative result aswell (Lin, Tan and Geng 2013). The study is aimed at understanding market trends that produceinnovation in the market. The purpose is being served by giving the example of Wrigley's Orbitin UK. 1.1 Short background of Wrigley:They have started as a small business with just a small office in London. After 100 yearsthey have now become the biggest sellers of gum in UK. A whopping figure of more than 725million packs is being sold each year (Wrigley.com 2017). They are aimed at delivering apleasant experience with what they need in the form of a gum. To offer tasty gum to masses hasalways remained as one of their core objectives. In Britain, above 22 million people use to chewgum on a regular basis for different reasons like keeping the breath fresh and a feeling of cleanteeth (Wrigley.com 2017).
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