Marketing Design and Innovation - Doc

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Marketing Design andInnovation
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................22.0 Influence....................................................................................................................................23.0 Changing characteristics and benefits........................................................................................23.1 Wristwatch patent......................................................................................................................43.2 Conceptual framework of innovation........................................................................................43.3 Product life cycle of Wristwatch................................................................................................53.4 Positioning.................................................................................................................................74.1 Positioning Map.........................................................................................................................84.2 Absorptive Capacity...................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
ILLUSTRATION INDEXIllustration 1: First watch developed by Peter Henlein...................................................................3Illustration 2: Improved Wristwatch................................................................................................4Illustration 3: Conceptual framework of innovation........................................................................5Illustration 4: Product life cycle.......................................................................................................6Illustration 5: Aaker model..............................................................................................................8Illustration 6: Apple watch.............................................................................................................10Illustration 7: Smart Watches.........................................................................................................101
INTRODUCTIONMarketing design and innovation can be defined as adopting new strategy or marketingmethod which leads to drastic changes in packaging or design. On the other hand innovation isdeveloping a product which is totally new to the market (Verganti, 2013). According to Trott,Innovation involves all the management activities which are involved in the process oftechnological development, idea generation, marketing new services or products or equipments(Trott, 2012).Present report will demonstrate regarding the changes which took place on different patterns andinnovations which took place in order to suit the changing needs and wants of the market.2.0 InfluenceHand watches has influenced many by being punctual and perform in an systematic manner. It isone of the most essential part of every one's life, specially to those who work and perform theirjob according the given time. Watch can be defined as a small timepiece which is worn byindividuals (Battistella, Biotto and De Toni, 2012). On individual basis the hand watches arehelpful in completing the given job on time. It is helpful for individuals in being punctual and itis only possible if the individuals knows the time. It is helpful in making plans for the whole dayso that all the work can be given equal priority for each and every thing. Further it is helpful increating a relationship with the watch. Wearing a watch is helpful in developing a positiveattitude towards the time. Hand watches are symbol of style. It is one of the things which appearsdirectly unlike any other things (Luchs and Swan, 2011). Moreover, it helps to stick to theschedule and focus on the task effectively.3.0 Changing characteristics and benefitsFirst the hand watches were not like it used to be know. It was in the 15thcentury whenPeter Henlein who come up with watches which individual could carry with them. But beforethat no one actually thought of carrying a time with them (Linden, Kraemer and Dedrick, 2009).This was an innovation in itself. Peter who was from Germany is the one who is considered to bethe inventor of watch. When the time passed on he became known as the developer of smallportable ornamental spring-powered brass clocks, which were very expensive and rare. Thesewere also used as pendants or were also attached to cloths. These watches were bigger than theactual pocket-watches. Which were developed one century after (Hsu, 2011).2
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