1. Branding has come a long way from its humble beginnings as an identification mark to its current position as a tool for communicating with consumers. Firms use branding as a way to control and manage consumers’ perceptions about their products and image. In many cases, branding creates a sustainable competitive advantage for firms. 

How much a firm should invest in branding is critically dependent on the business model that the firm pursues. For example, many recent buyers of a smartphone would attest, as firms that invest heavily in branding often also invest heavily in innovation.

Required:

Demonstrate clearly how firms’ branding strategies interact with their innovation strategies.

Using relevant examples, explain how branding affects innovation and competition in the marketplace.

Backed by related examples, explain how branding activities may substitute for product innovation, especially in the case of vertical product differentiation, where firms introduce higher quality products to rival their competitors.      

2. 

The Internet has changed how consumers make new purchases. It has reduced the time input and cost required to conduct research on potential purchases, and it has simplified how consumers make purchases.

Required:

Discuss how the internet has changed firms’ product life cycle. Further, explain the impact of the internet on investment in innovation.                    

Describe the “Promotor” model. Further, using relevant examples, give insight on how it can be used to overcome obstacles for innovation processes in a firm                

3. 

Susan is a receptionist for a local council. Her job is to attend to customers at the counter and assist with incoming phone calls. She regularly has long queues of customers at the counter; some have quick inquiries, while others require more time. She and the switchboard staff discuss ways to create at least two queues at the counter, how customers can choose which queue suits their needs and how the staff can better share counter duties while still managing the phone calls. They present their ideas to their manager and include a way to pilot this innovation. 

Required:

What type of innovation is this? Support your answer.      

Describe TWO various ideation sources and how the organization can nature them to fruition      

Answer rating: 100% (QA)

1 Br anding has come a long way from its humble beginnings as an identification mark to its current position as a tool for communicating with consumers F irms use branding as a way to control and mana... View the full answer