Dimensions of Business Innovation and Marketing Strategies
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Marketing Innovation
Innovation in marketing is critical. Imaginative ideas on strategy exist in many places within a company.
Senior management should identify and encourage fresh ideas from three underrepresented groups: employees with youthful or diverse perspectives, employees far removed from company headquarters, and employees new to the industry. Each group can challenge company orthodoxy and stimulate new ideas.
Scenario analysis: Develop different ideas. “What will we do if it happens?”
Dimensions of Business Innovation
- Offerings (WHAT): Develop innovative new products or services.
- Platform: Use common components or building blocks to create derivative offerings.
- Solutions: Create integrated and customized offerings that solve end-to-