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BHO2259 Product And Service Innovation

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BHO2259 Product And Service Innovation

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BHO2259 Product And Service Innovation

0 Download4 Pages / 931 Words

Course Code: BHO2259
University: Victoria University is not sponsored or endorsed by this college or university

Country: Australia


Your team needs to focus on a particular product or service of a company for this assessment and then analyse the marketing strategy for that particular product or service based on unit relevant analysis criteria. Broad generalizations and lack of focus on a particular product or services will result in lower marks.

We strongly recommend you to thoroughly review the two journal articles as they provide detail elaborations on the factors for innovation success model (Figure 3.6, page 92) which will be required for the Technological and Commercial viability analysis sections. Your task will be to analyse the company in the light of these factors.

Apple Inc. is popularly known for developing technologically smart and innovative products within the market. Hence, it would be extremely crucial for the firm to consider the impact of technological services for their customers. The company had thus decided to implement the Apple watch, which would bring a massive impact for the growth of the business of the organization. The company introduced the Apple Watch Series for the purpose of connecting with the internet and also provided the facility of receiving and making calls. The company adopts a quantum strategy within the market, which is almost impossible to be imitated by other competitors (Heracleous 2013).
The company has a higher level of thinking based on the process of identification of their target market and their prime customers. Based on these criteria, they would be able to target their sales. With the innovation of the Apple watch, the company had thought of marketing their products in their own way (Choi and Kim 2016). They would thus show rich features of the product to their suppliers and customers. They would hence focus on gaining the major attention of their consumers.
The company also aims at gaining a valuable form of feedback from their buyers. These feedbacks generally help the company to bring innovative features within their products. The innovation of the Apple Watch has being mainly meant for keeping a broad form of focus on the culture of the organisation, structure and control system of the organisation (Noel 2014). The company primarily recruit local based staff and thus provide training to them for the purpose of helping and satisfying the needs of the customers.
2.2 Project Related Factors
With the invention of the Apple Watch series, the company has brought about a new face in the field of technology. The company is entirely dedicated towards improvement of the new kind of technological platform. The Apple watch helps in focusing on the valuable inputs that are made in the field of technology (Chuah et al. 2016). There have been a lot of technical changes that have been integrated with the help of the Apple watch.
The integration of GPS facility and making the watch to be water-resistant are one of the most vital form of interesting features that have been built within the watch. Apple has also integrated the option of Siri. This feature within the application would support the user for scheduling their meetings, dictate text messages and set timings. They would be provided the feature of using their voice to set commands (Wilmott, Fraser and Lammes 2018). The project based on Apple watch is based on the communicating of a new kind of value and thus be able to reach to a wide number of customers. There are also a number of important changes and improvements that would be needed for the growth of the product such as the increase of the battery life.
With the growth of a lot of competitors within the market, it has been a high challenging factor for the organisation to cope up with the change within the market. Hence with the invention of Apple watch, they heave kept themselves updated with the latest trends within the market and thus switch over to newer forms of technologies (Taylor 2015).
2.3 Summary Analysis
Based on the above discussion about the vast form of marketing strategy adopted by Apple watch, it could be summarized that the company has a wide form of marketing strategy. It focuses on the development of new kinds of products that would be innovative within the existing market. In the recent times, with a wide form of digital competitors in the market it is extremely crucial for the organisation to cope up with the changes within the market. Based on the high level of competition within the market, it has been analysed that the company focuses on reducing the pricing of their products and also maintain the high quality of their products.
The Apple watch is one such example of the challenging and competitive form of mindset of the organisation. They have thus implemented different kinds of features within the watch, which would be able to support and assist the users in their day-to-day needs. The company has a high marketing strategy. They mainly understand the needs of the customers and thus put high level of input to implement such innovative products that might gain huge focus within the market. The Apple watch integrates the wide form of measures that are mostly needed by the people. They have also brought new and interesting features that could be the centre of attraction for the people. Hence, this form of a competitive mindset would be extremely useful for the growth and benefits of the organisation.
Choi, J. and Kim, S., 2016. Is the smartwatch an IT product or a fashion product? A study on factors affecting the intention to use smartwatches. Computers in Human Behavior, 63, pp.777-786.
Chuah, S.H.W., Rauschnabel, P.A., Krey, N., Nguyen, B., Ramayah, T. and Lade, S., 2016. Wearable technologies: The role of usefulness and visibility in smartwatch adoption. Computers in Human Behavior, 65, pp.276-284.
Heracleous, L., 2013. Quantum strategy at apple inc. Organizational Dynamics, 42(2), pp.92-99.
Noel, P., 2014. The Apple watch: new tech, new risks. Risk Management, 61(10), p.10.
Taylor, A.G., 2015. The ResearchKit Health Projects. In Get Fit with Apple Watch (pp. 111-117). Apress, Berkeley, CA.
Wilmott, C., Fraser, E. and Lammes, S., 2018. ‘I am he. I am he. Siri rules’: Work and play with the Apple Watch. European Journal of Cultural Studies, 21(1), pp.78-95.

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