Discontinuous innovation, Dimensions of Brand Personality
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According to Levitt, why should companies continue to innovate and develop products? "Discontinuous innovation" is a marketing term referring to a completely new method to satisfy consumer needs. For example, airplanes replaced trains to satisfy consumer travel needs or CDs replaced cassette tapes. Why are businesses more apt to be victimized by discontinuous innovation?
Plus here's a few more questions derived from Dimensions of Brand Personality.
Aaker suggests some brands have personalities consisting of five human characteristics. Why would a company want to develop human-like brand personalities? Can you think of a brand not mentioned in this article that consists of the 5 human characteristics? Describe the characteristics and the overall personality of the brand. Do you think the brand personality of your product would transfer to other cultures? What are the implications of cultural brand personality transfer to marketers?
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The expert examines discontinuous innovations and the dimensions of brand personalities.
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According to Levitt, why should companies continue to innovate and develop products?
"Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Others which are thought of as seasoned growth industries have actually stopped growing. In every ease the reason growth is threatened, slowed, or stopped is not because the market is saturated. It is because there has been failure of management." (Leavitt 1960) What does this tell us? When a company no longer innovates and develops products, the company loses market share. When market share is lost, profits are lost. To remain profitable, companies must focus on being innovative through the development of products.
Let's look at Apple and Microsoft. Both companies have been innovative since inception and their innovation has made them both leaders in their respective fields.
When the hunger to be innovative is lost, the company can no longer lead.
"Discontinuous innovation" is a marketing term referring to a completely new method to satisfy consumer needs. For example, airplanes replaced trains to satisfy consumer travel needs or CDs replaced cassette tapes. Why are businesses more apt to be victimized by discontinuous innovation?
"A way for innovation to succeed is to import knowledge from ...
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