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Product Innovation Proposal

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Assume your The Coca Cola Company has made a strategic decision to become more innovative.

Identify unknown problems and unmet opportunities before you develop an innovative strategy to address them.

Follow the Innovation Business Design model (IBDM) five-step roadmap that follows:

1. Assessing the situation
2. Identify and define problem/opportunity
3. Creative concept development
4. Prototype Development
5. Implementation, validation, and refinement

to prepare a proposal in which you apply the steps to the creation of an innovative business product.

Explain the unique nuances of innovative product development as it relates to the IBDM. Identify a minimum of two current sources which support your position.

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Solution Summary

This solution provides guidelines and ideas for a product innovation proposal.

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This paper identifies the problem and unmet opportunities related to Coca-Cola Company. It develops an innovative strategy to address the problem. It used innovative business design model to solve-out the problems and take them as an opportunity for organization. The use of IBDM is effective for the creation of an innovation business product. Following are the different steps of IBDM that helped to find-out problem and opportunity for Coca-Cola to made a strategic decision and become more innovative:

Assessing the Situation
Coca-Cola is the most popular soft-drink company in the world. It provides more than 3500 beverages from diet and regular sparking beverages. In the analysis of Coca-Cola, it is identified that it prefers mostly soft drink products and does not provide health drink products (The Coca-Cola Company, 2011). It affects market of the company because competitors provide health drinks to customers. Coca-Cola provides several beverages products but these do not consider the proper nutrition in the products, so they affect health of the customers. Products of Coca-Cola affect the heaths of the customers because they contain low calcium, high protein, high sugar, high acid, and trace mineral deficiencies (LiveStrong.Com, 2012). Customers could require health and balance nutrition products, so company could focus on innovative new products by maintaining the nutrition. Currently, customers are reducing the consumption of junk food and soft drink because they affect the health and fitness of them. It believes to provide healthy products to customers, so they require new health drink product to increase the market share. It is also required to focus on health drinks such as fruit juices, energy drink etc.

Identify Problem/Opportunity
Soft drink includes high sugar, low calcium, high protein and high acid, which have negative impact on the fitness and health of the customers. Most of beverage products include ...

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