Exploring Different Techniques to Generate Innovation in Business

This assignment examines various techniques for generating innovation within a business context, using the example of a company selling 3D-printed t-shirts. It explores methods such as re-expression, the Blue Ocean Strategy, and revolution to foster creative product and service ideas. The assignment details the application of the Blue Ocean Strategy to make competition irrelevant, create new demand, and increase profits. It further discusses the use of a strategic canvas to create new value curves, considering factors like price, quality, and design. The role of social media promotion, particularly on platforms like Facebook and Instagram, is highlighted as a key strategy for attracting target consumers and driving sales. The assignment emphasizes the importance of understanding consumer needs and using social media to promote the product effectively, thereby expanding the business's reach and opportunities.