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RESEARCH & DEVELOPMENT, Ana Medina and Miguel Mármol, …
RESEARCH & DEVELOPMENT
Form of innovation associated with the development of chain production and to develop new ways of existing products.
Marketing Aspects
In charge of: Find gaps on existing markets, identify customer´s needs, intellectual property rights.
Patents: When businesses protect their idea/product by buying these in order for other businesses to not copy their product exactly during 20 years.
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Trademarks: Splitted in 2 general forms: conventional trademarks as logos, phrases and designs; and the name of the company. This helps to bring brand loyalty and increase profit margins.
Types of innovation
Product innovation: Is the introduction of a good or service that is new or significantly improved with respect to its characteristics or intented issues. Product innovations include both new products and new uses for existing products. For example: Sony innovating with waterproof phones in 2005.
Process innovating: Process innovation is the application or introduction of a new technology or method for doing something that helps an organization remain competitive and meet customer demands. Example:One of the most famous and groundbreaking examples of process innovation is Henry Ford's invention of the world's first moving assembly line. This process change not only simplified vehicle assembly but shortened the time necessary to produce a single vehicle from 12 hours to 90 minutes.
Positioning Innovation: Is about repositioning, taking a product or service and offering it in a new market, or with a new slant. A recent good example would be AirBNB, originally positioned around conferences before moving into the general holiday and traveller industry.
Paradigm innovation: Is a major innovation that could alter and change the company. It focuses on the short term or long term impact of new products or services.
Forms of creativity
If the business faces a new situation or problem, they might not only need finances or science, they need new ways of thinking. This is when creative methods comes in as: promotional campaigns.
Adaptive creativity: Tranfers and applies already existing methods of thinking to solve new scenarios or new situations.
Innovative creativity: Is a way of creativity that arises from new ways of thinking and solving problems from an unusual perspective.
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Ana Medina and Miguel Mármol, 3 BGU "B", 12/10/2021