Innovation Theories in Product Development: A Case Study of Pet Trak

Desklib provides past papers and solved assignments. This report analyzes Pet Trak's innovative strategies.

Managing Innovation

Table of Contents
Introduction................................................................................................................................3
1. To describe in detail one or more innovation theories of your choice...................................4
2. To apply each of your chosen theory or theories in explaining the historical development of
one or more products and services, and the possible future development pathways of your
products or services....................................................................................................................9
Conclusion................................................................................................................................13
Reference List..........................................................................................................................14

Introduction
The art of creating a new product that allows organisations to provide their consumers with a
new product or service can be termed as innovation in the business sphere. The purpose of
developing new products with innovative procedures and functions are necessary for business
organisations in order to develop a better brand image in the market economy as well as
create a new market space for themselves in the competitive market economy.
The following report will be based on the business organisation of eMotive Data Ltd and
their method of strategically using innovation theories in creating and marketing an
innovative product called Pet Trak in 2010 in the UK market economy. Using various
innovation theories, the company was able to launch the new product in the market economy.
This study will evaluate the attributes of blue ocean innovation theory, and disruptive
innovation theory has been applied to the product development and marketing strategies of
Pet Trak.

1. To describe in detail one or more innovation theories of your choice
The purpose business organizations resort to using innovation of new products and services
rather than inventing new things is that innovation provides them with the opportunity to
develop products that are beneficial for the organisations in the competitive market economy.
The essence of using innovation in their business operations can be traced back to the
historical days when it was necessary for business organisations to create new products or
develop methods of production and marketing that were fresh and new in the market
(Prajogo, 2016). It is a necessary attribute for managing business operations of companies to
create new methods of performing business. This will gain a better competitive advantage in
the market economy. Business organisations implement innovative strategies that help them
to create appropriate procedures and production procedures that are fresh in the market
economy. Innovation allows organisations to create new products or develop new strategies
that help the organisation to create and utilise procedures of distributing products to their
consumers in various ways that are different from their rivals.
Business organisations need to perform better in the market economy in order to gain better
profits and improve their customer base. This is performed by using innovative products,
production procedure or creating innovative marketing procedures. The various innovation
theories that are developed help the business organisations to create new strategies and
marketing mixes to generate new products that are new and beneficial for the company as
well as the target consumer base. Innovative methods and techniques in the production
process allow companies to create new products with uniqueness and utility (Visnjic et al.,
2016). This serves as an attraction quotient for the company towards the consumer base. The
business innovation procedures allow companies to create better products that are unique in
the market place and help them to generate better profit from the market economy. The
companies utilise innovation theories and strategies in their business procedures in order to
escape saturation of the competitive market economy. The core basics of innovation theories
relate to the fact that organisations need to make changes in their business operations or
product development procedures in order to achieve better results from the market economy.
Innovative procedures and strategies relate to several innovation theories that are beneficial
for the organisations in the market economy as these promote the sales of the company.
Innovation is of several types, but each follows the core basics of certain innovation theories.

Business organisations and entrepreneurs utilise major innovation theories to create new
products using innovative strategies and procedures that allow them to develop new products
and operational procedure that improve the organisations’ competitive stance in the market
economy. Organisations also develop new products and services with the aim of creating new
products and services that will allow them to gain new consumers and create a need for their
products among the customer demographic (Charter and Tischner, 2017). Several
organisations utilise innovation theories in order to develop new consumer demographics and
to escape the scope of saturating the market economy. Innovations help to refresh the market
economy in the business context by providing the consumers with better and unique products
or services that serve the specific needs of the consumers in the market economy. These
innovative productions allow the company to gain an advantage in the market economy
against the rival organisations catering to the needs of similar demographic.
The innovation theory that is most effective in the UK market economy can be observed as
the Blue Ocean innovation strategy, which focuses on the primary activity of a business
organisation creating the value of their product in the market economy. The Blue Ocean
innovation theory allows the business organisations to create a definite value for their
products by providing the target demographic with a particular product that already exists in
the market but is capable of providing the consumer base with a value that is unavailable
from other similar products in the market economy (Randall, 2015). The Blue Ocean
innovation strategy benefits the organisation in creating products that are innovative and
appropriate for the consumer market. The primary basis of value innovation theory is that in
order to generate products and services that would attract the consumers to the company, it is
essential for the organisation to identify the value gap within the market economy. The
procedure of value innovation allows organisations to identify unique products that could be
of essential value for both the consumers as well as the company. The theory utilises
simultaneous methods of differentiation and lesser cost of the product in the market economy.

Figure 1: Blue Ocean innovation
(Source: Mebert and Lowe, 2017)
The basic methods of innovating products with value that will attract new consumers and
create a new market space for the product utilise several procedures related to the production
process, marketing and financing the business procedure of selling the product. The idea of
the value of a product for the consumer varies from the company’s perception of the value of
the same product. It is essential to identify the cost of the product that will be created and
place appropriate value, utility and cost of the product in accurate alignment (Leavy, 2018).
The methods allow the organisations to create the value of the product through various
techniques such as better pricing strategies or production methods. The value innovation of
products allows organisations to create a niche market or identify a particular market gap
within the existing services and products in the market economy. This strategy allows the
company to develop better products at an appropriate cost. This ensures the success of the
organisation as well as the developed product in the competitive market economy.
Another effective innovation theory that is beneficial for a business organisation that seeks to
enter the competitive market by competing against rivals with better resources and greater
market-shares is the theory of disruptive innovation that is helpful for the company to gain a
foothold in the market economy (Vecchiato, 2017). This type of innovation allows relatively
smaller and new organisation to enter the business environment that is saturated with larger
organisations with wider reach and resources; this is made possible for the smaller
organisation by providing products and services to the consumer demographic at a different

price or utility than that provided by the larger organisations. Disruptive innovation refers to
the innovative use of a product or strategy by a new organisation in the market economy that
holds the potential to disrupt the business operations of established business organisations
(Christensen et al., 2016). The success of the new business organisation in the market
economy is based on the utilisation of innovative techniques in pricing or production process
that is different from the existing rival organisations.
Figure 2: Disruptive Innovation
(Source: World Economic Forum, 2019)
The successful implementation of disruptive innovation in the business operations of an
organisation relates to the fulfilment of business objectives and creating new products for the
consumers and providing them with similar if not better quality of products than the rival
organisations (Harvard Business Review, 2015). The prosperity of the new business
organisation in the market economy is based on the ways the company manages to retain the
quality of products and the value that the company developed in the initial days. The ability
of the organisation to maintain a steady value for the product while enhancing the quality of
services and products will allow the organisation to function as a successful organisation
using disruptive innovation as a technique in the market economy (Christensen et al., 2015).
The creation of products and maintaining the value of the products will allow the organisation
to create a niche consumer market for their products and tumble the existing organisations.
The success of the organisations in the competitive market economy using disruptive
innovation methods relates to the benefit of the consumers as they gain a new perspective of
products that previously existed in the market but at the higher price range. The fulfilment of

customer needs and requirements in the market economy has to be catered by the
organisation seeking to enter the business environment using strategies or procedures that are
beneficial for the company and the consumer demographic (King and Baatartogtokh, 2015).
Achieving this is possible for business organisations through appropriate products and pricing
strategies that are effective in attracting new customers from rival organisations. eMotive
Data Ltd uses the blue ocean innovation strategy and the disruptive innovation strategy to
develop their new product Pet Trak in the UK market economy.

2. To apply each of your chosen theory or theories in explaining the historical
development of one or more products and services, and the possible future development
pathways of your products or services
Brief Overview of the Company
The company eMotive Data Ltd is situated in the heart of the United Kingdom and makes a
provision of excellent pet tracking devices. The company launched Pet Trak markets in the
manufacture of the database and micro GPS chips for dogs for the reunification (Ravelo,
2016). The company makes the utilization of the innovative procedures for the growth of
their database and tracking system. This company plays an important role in making devices
that are fastened onto dogs. The services provided by the company are beneficial as it helps
in tracking the animals in a matter of 24 hours. In light of recent development, the company
has been able to invent a global positioning system (GPRS) for the pets in the form of a
collar.
With the use of the pet collar, the pet owners will be able to track their pets through the
medium of mobile phones. Therefore, the report will stress the significance of the use of new
theories for the growth of innovation in business. The innovation theories that are chosen are
the Blue Ocean strategy and Disruptive Innovation. Therefore, the idea of the invention had
been proposed ever since the growth of the operation of the business. With the better and
effective understanding of the business, the company has been able to engage in a lucrative
trade important for the growth of the company. This is significant as there have been different
historical pathways that are important for the growth of the business. However, with the use
of the different innovation theories, the company can produce a better understanding of the
company. The product and services, which are significant for the company, will also be
illustrated for a better understanding of the historical and future pathways of the business
products and services. Therefore, the company is significant in the maintenance of company
growth and services.
Innovation theories and Historical growth of GPRS for Pets
The concept of innovation has played a dominant role since the pre-historic era. It has helped
the companies to witness growth and productivity in the provision of its services. The
introduction of the GPS and GPRS system for the pet dogs had been discovered (Goel, 2016).

There were some pet companies investing their idea on the growth of the safety for the Dogs.
The initial development of GPS for dogs invented and manufactured by the company Garmin.
The aim of the Garmin collar dogs was to track dogs that went missing during any climatic
condition. It was recognised as the best company, which innovated and invented a useful
tracking device for the dogs. The other innovative products and services that were produced
by the company were Garmin Astro and Tri-tonics. This innovative product has played an
important role in producing a better and effective understanding of the growth of the
business. The Disruptive innovation theory is significant and applied for an understanding of
the concept that is related to the understanding of the evolution of dog’s collars.
Therefore, the company Garmin has been able to make the use of the collar for understanding
and computerising the process of tracking the dogs. Therefore, a proper and significant
understanding of the historical development, various devices have catered to the growth of
the business. The company Garmin procured an understanding and attained success in the
business operation of the company. The disruptive innovation theory was beneficial as it
influenced the growth of the company. The pet owners were able to invent a novel way of
tracking lost dogs.
The GPS tracking device was introduced in the form of the chip. The other innovation
materials, which were produced by the company, were Nuzzle GPS collar paw tracker,
Tractive GPS tracker and Whistle pet tracker. Therefore, in the light of the historical
development, these trackers were invented for addressing Data and monitoring the dogs and
pet those were led astray. Therefore, with the initiation of the Garmin dog tracking system,
the company was able to procure the growth of the dog tracking system. As stated in the light
of the recent development the product Pet Trak has adopted the Blue Ocean strategy to create
a new market space for understanding the customers.
The company revamped the GPS collar redesigned for meeting the growth and understanding
of the concept of the business. Therefore, the company makes the use of understanding the
instruments for the company also has given a primary understanding of the business. As per
the historical understanding of the device, there have been improvements and re
enhancements in the growth of the business. The GPS devices have been innovated and
infused with a better operating system. This had an impact on the pet owners, as they have
been ensured with safeguard measures for the company. The company Pet Trak has put in
new features into the already existing market. This has improved the growth and

understanding of the operation and the business of the company. The new product launched
by the company has maintained the operations of the tracking system by providing an alert
and proximity system during the time of issues. This has led to an increase in the demands of
the GPS designed for the dogs. This has an impact on the operations of the business and
assures an understanding of the new operating system. Pet Trak has also introduced newer
and novel technology such as the invention of the RFID technology, RoamEQ and Loc8tor.
This has created a new market space and helped in the growth of the business and the
company.
Future growth of technology for Pet Trak
With the growth of the innovation and the company to secure better deals with the customers,
the company will be able to reinvent their tracking system. This will include the Blue Ocean
Strategy to create a new market space for the customers (Schumpeter, 2017). Technological
advancements could lead to a better understanding of the GPS for dogs. This would have a
positive impact on understanding the needs of the pet owners. To address the grievances, it is
important to comprehend the growth of the business. With the use of the blue ocean strategy,
the company will be able to increase its demand in the company. This will also create a
competitive advantage for the growth of the business.
However, with an understanding of the factors related to business, there are implications of
growth for the business. This influences understanding the growth of the business. Pet Trak
can strategically increase and improve its business through the integration of technological
improvement for the customers. The database of the lost dogs can be tracked on watch
screens and iPods (Foss, 2017). There is scope for future development of the operations of
the company. This will influence the business operations of the company.
Therefore, a better understanding of the system that requires improvement the company will
be able to develop in a better manner. This will also give a clear perception to the customer
and would increase the safety of the dogs. It would influence understanding the significance
of the business operations of the company. This would make the use of establishing key
factors that are significant for understanding the growth of the business (Massa, 2017). That
would have an impact on understanding the factors important for the company. The pet
service provider could establish a clear set of the database for the growth of the business.
This will have an impact on understanding the results and growth of the business. However,
with an understanding of technological innovation, the company will be able to boost the

advancement of the company. Therefore, there are developments in the growth of the
business with the integration of technological agreements that are important for
understanding the growth of the business. However, with the use of the growth and
innovation in business, the company can achieve lucrative gains for the understanding the
operation and management of the business and the tracking device. This has a significant role
to play in the growth and innovation of the business organisation.