A Quote by Peter Drucker
Making changes to better appeal to customer is INNOVATION.
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Innovation usually arises from somebody taking a product already in production and making it better: better glass, better aluminum, a better chip. Innovation always starts with a product.
Market in India is big enough for several brands. For us, it's about innovation, making best product, and making the ecosystem better and better. If we do that well, then more people will switch from Android to iOS.
Being a 'monopoly' is not illegal, nor is trying to best one's competitors through lower prices, better customer service, greater efficiency, or more rapid innovation.
Implementing any major changes to the way companies operate requires time and determination and the shift to globally integrated innovation is no exception - it calls for new capabilities to be built, changes in the structure of the innovation organization, new systems, processes and mindsets. The scope and scale of this task shouldn't prevent executives from starting down the path of change as the systemic nature of innovation activities means that every single element of change that's brought about will make a difference.
Changes call for innovation, and innovation leads to progress.
Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are 'costs'.
We grow by letting the customer tell us. So when the customer tells us that they're frustrated, that they just got their catalogue and we're already out of a product they wanted, then it tells me that we're not making enough. We let the customer tell us instead of creating an artificial demand for our products. Any time you're making products that people don't need, you're at the mercy of the economy, you're at the mercy of whatever is going on. So we tried to avoid that situation.
Market type determines the startup's customer feedback and acquisition activities and spending. It changes customer needs, adoption rates, product features, and positioning as well as its launch strategies, channels and activities.
Innovation comes from the producer - not from the customer.
Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced. Entrepreneurs need to search purposefully for the sources of innovation, the changes and their symptoms that indicate opportunities for successful innovation. And they need to know and to apply the principles of successful innovation.
If you're not trying to do something better, then you're not focused on the customer and you'll miss the possibility of making your business great.
Repositioning a brand is never easy and rarely without pain. I believe the Urban brand is making the necessary changes that will allow it to more fully engage its traditional customer and return to solid profitability.
Making loans and fighting poverty are normally two of the least glamorous pursuits around, but put the two together and you have an economic innovation that has become not just popular but downright chic. The innovation - microfinance - involves making small loans to poor entrepreneurs, usually in developing countries.
Innovation is the creation and delivery of new customer value in the marketplace.
Unknown customer, unstated need - that is bleeding edge of innovation!
I think innovation as a discipline needs to go back and get rethought and revived. There are so many models to talk about innovation, there are so many typologies of innovation, and you have to find a good innovation metric that truly captures the innovation performance of a company.
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