Leveraging Your Innovation Model
Though there are different types of innovation models, it is understanding the best way to go forth to market with your product that will win the business the best results in ROI.
Innovation business models differ amongst many companies and your strategy to market is just as important.
Each model needs management to exert specific skill sets to maximize the benefits of the model.
To take a further look at how this can work we decided to take a look at a few top innovative companies, namely: Apple, Zara, and Nike
Each of the 3 companies mentioned falls into a differing innovation model, however, while each one of these companies infuses innovation into their company, brand execs/management must be sure to maximize the benefits.
Starting with Apple: With a disruptive creative model, we can say that Apple found its glory when Steve Jobs and his team prioritized 2 innovative model principles, in their product. First was the creativity in developing the sleek, sexy, modern, intuitive apple devices that work extremely easy and seamlessly. This design and product marriage were then infused with a high-value placement on both the user/customer experience and level of customer service that makes the company stand head and shoulders above its competitors for both products and services.
Zara: Reliant upon its fast-fashion model leverages its speed to market in manufacturing and distribution of high fashion trendy looks. Now what is truly remarkable is the design work which is geared to more toward the affordable high-end casual wear of medium quality yet done with its fast turnaround similar to companies that manufacture cheaper items. Fewer pieces in the store generate the feeling of high demand and customers are psychologically hooked to buy now or lose out entirely on something fabulous.
Nike: Builds its insights form the customers. Nike is not afraid to step out of the sneaker pack to personalize its offerings to customers and to use their customers' ideas to bring on new designs and functions. Working closely from these insights they are especially good at embodying the styles mused from industry influencers and top sports athletes around the globe. Fans and sports gear fanatics are never let down by this strategy as they push the design and function envelope constantly into the new making the creative process very interactive.
As we can see from these examples all 3 companies utilize innovation. All 3 strategies need teams to understand how to maximize the value of their innovation model. Leadership teams then find ways to incorporate additional innovative measures or improve on the existing ones to stay highly competitive and differentiated.
Remember that the innovation model approach is always taking into account the understanding of the company’s strength and moving with it to constantly transform, capture and retain the market.
What will be key in the years to come for these companies is finding ways to step out of the model they are in and reach into another innovative model, while this can be a tricky tactic it can lead to many gains if done correctly.
Here we enjoy expanding on innovation, we know insights derived can be crucial for taking advantage of opportunities.
We'd love to hear how we can help, schedule a call with a team member today.
Malek Mia Management Strategic Planning Services and b2b sales consulting services here: www.malekmiamanagement.com