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ASSIGNMENT - BRAND INNOVATION
Ngọc Dung – Ngân Trần
1
WHAT IS
BRAND INNOVATION
Is the successful exploitation of new ideas,
it refers to both radical and incremental changes ...
1 BRAND INNOVATION MIX
Product
innovation
Communication
innovation
Pricing
innovation
Process
innovation
Channel
innovatio...
Define the Innovation Type Always from the perspective of the consumer
Always in the broad commercial context
Not in the i...
Example
1. Refresh 2. Compete 3. Breakthrough
Definition
keep existing benefits but refresh the
offer.
Definition
add new ...
2
KEY PRINCIPLES OF
BRAND INNOVATION STRATEGY
Empathizing with your audiences creates deeper connections and gives you a g...
Idea mining
platform
Idea
Feasibility
Capability
Launch
preparation
Post launch
evaluation
L
A
U
N
C
H
- Literature
search...
INNOVATION PROCESS3
ZARA
- Trendy clothes
- Inexpensive price
- Decently made
- Rapid copycat production
-Vertically integ...
Ym elite 2014   assignment 10.1 - brand innovation - dung - ngan
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Ym elite 2014 assignment 10.1 - brand innovation - dung - ngan

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Brand innovation
Brand innovation mix
Brand innovation process

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Ym elite 2014 assignment 10.1 - brand innovation - dung - ngan

  1. 1. ASSIGNMENT - BRAND INNOVATION Ngọc Dung – Ngân Trần
  2. 2. 1 WHAT IS BRAND INNOVATION Is the successful exploitation of new ideas, it refers to both radical and incremental changes to products, processes or services, is a management process that requires specific tools, rules, and discipline. BRAND INNOVATION Brand innovation vs Business innovation Brand Innovation only consider innovation activity relevant to their brand, focused on Brand Strategy BUSINESS innovation focused on Company or Market Strategy, this may not be linked to an existing brand. Can Toyota create a premium, luxury offer? Or create the "The Relentless Pursuit of Perfection." Example Can confectionary maintain relevance in the summer?
  3. 3. 1 BRAND INNOVATION MIX Product innovation Communication innovation Pricing innovation Process innovation Channel innovation Packaging innovation
  4. 4. Define the Innovation Type Always from the perspective of the consumer Always in the broad commercial context Not in the isolated context of my brand 1. Refresh 2. Compete 3. Breakthrough Definition keep existing benefits but refresh the offer Definition add new benefits to existing offers Definition new offer / new benefits Example Redesign of pack graphic New flavour addition to existing range Example Functional benefits e.g. Convenience > new closure Emotional benefits e.g. helps you look after your kids wellbeing Example New brand / sub-brand New product / new benefits / new technology 1
  5. 5. Example 1. Refresh 2. Compete 3. Breakthrough Definition keep existing benefits but refresh the offer. Definition add new benefits to existing offers Definition new offer / new benefits More nuts
  6. 6. 2 KEY PRINCIPLES OF BRAND INNOVATION STRATEGY Empathizing with your audiences creates deeper connections and gives you a greater understanding of the people whose lives the brand seeks to enrich. This, in turn, provides more opportunity for new, insightful ways of serving them. People with different interests, and backgrounds bring diverse perspectives to bear. Setting up interdisciplinary teams helps generate a greater breadth of ideas and can allow you to build on those ideas in unexpected ways. Fear of failure is the single biggest obstacle to bringing something new into the world. Creating an environment in which failure is encouraged—even rewarded—gets people to think outside their comfort zones, and conjure up wild ideas that just might turn out to be the next big thing. If it “just feels right,” it may well be. Discounting ideas that won’t test well or don’t conform to numeric data can result in breakthrough ideas being mothballed. Instead, allow these ideas to percolate, refining them and exploring ways to make them better. Continuing to forge ahead in the face of adversity is critical to developing new ideas. Even when ideas don’t pan out for a given problem, they should be catalogued and referred to when new challenges arise. The basic tenets of play—imagination, free-form thinking, role-playing—are important aspects of creative thinking, but the critical element is that of having fun. Empathy Collaboration. Courage. Intuition. Tenacity. Play.
  7. 7. Idea mining platform Idea Feasibility Capability Launch preparation Post launch evaluation L A U N C H - Literature search - Internet search - Market study - Consumer habits study -Product concept -Benchmarking -prototype -Formulation work -Sensory panel -Storage test -Packaging development -Product Cost/ Profitability -Legislation -Plant equipment -Plant Trials -Plant Commissioning -Plant start-up -Commercial production -Product application -Supply chain Charter gate Contract gate Launch gate Roll out gate -Consumer Feedback - Trade Monitoring Detection of business opportunities: new products, new variants/SKUs (flavor, formula, pack type ) Determination of approach to market entry Justifications of investment Successful launch 3 BRAND INNOVATION PROCESS
  8. 8. INNOVATION PROCESS3 ZARA - Trendy clothes - Inexpensive price - Decently made - Rapid copycat production -Vertically integrated supply chain -Zero commercials, but pay a premium for locating store - Trendy clothes: following the trend, not create the trend - Affordable INSTANT FASHION Ideas Feasibility Capacity

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