Preparing your "innovation" assignment: Your tasks in this assignment are to prepare an assessment of an innovative company of your choice. If you have your own innovation idea, you can select your own company', even if you do not have any company established actually at this stage. You should concentrate on three (3) key elements, such as: 1. What was the innovative product or service that you want to focus on? (i.e. idea development, background, market need and product/service justification) 2. How this innovative product/service was 'connected to the target market'? (i.e. what was the 'target market' and what communication/marketing methods were employed to convey the innovative nature of the product/service to the target market'?) 3. Please evaluate the apparent marketing/financial success of the company that marketed the innovative service/product in question. Task 1: Select an innovative company Please investigate innovative companies worldwide and select one that is close to your own area of interest. If you have your own innovation idea, you can select your own company, even if you do not have any company established actually at this stage. Just imagine what you would do if you had a company and you had to innovate and market your own unique/research based product/service. Task 2: Describe the innovative service/product you want to investigate You should describe the nature of the innovative product or service that you want to focus on. Talk about what market needs this new service/product would satisfy and give background/justification for the development of this product/service. Task 3: Describe the 'target market' and evaluate the success of marketing the product/service How was the 'target market' identified that would benefit from this new innovative product/service? What communication/marketing methods were employed to convey the innovative nature of the product/service to the target market'? How this new innovative product/service served the needs of the target market and how the benefits offered were communicated to the target market"? Please evaluate the apparent marketing/financial success of the company that marketed the innovative service/product in question. If you are evaluating your own innovative idea, please talk about the expected benefits/outcomes of your innovation by making a strong argument about the likelihood of market uptake and thus expected financial rewards. Task 4: Identify the development approaches to bring the idea to market Innovation of product and services often require the careful evaluation of approaches and methods to bring the product to market. Describe the approach used by the company (or your start-up company) to bring this product to market. Think about alternative strategies and risks that may be involved. Preparing your "innovation" assignment: Your tasks in this assignment are to prepare an assessment of an innovative company of your choice. If you have your own innovation idea, you can select your own company', even if you do not have any company established actually at this stage. You should concentrate on three (3) key elements, such as: 1. What was the innovative product or service that you want to focus on? (i.e. idea development, background, market need and product/service justification) 2. How this innovative product/service was 'connected to the target market'? (i.e. what was the 'target market' and what communication/marketing methods were employed to convey the innovative nature of the product/service to the target market'?) 3. Please evaluate the apparent marketing/financial success of the company that marketed the innovative service/product in question. Task 1: Select an innovative company Please investigate innovative companies worldwide and select one that is close to your own area of interest. If you have your own innovation idea, you can select your own company, even if you do not have any company established actually at this stage. Just imagine what you would do if you had a company and you had to innovate and market your own unique/research based product/service. Task 2: Describe the innovative service/product you want to investigate You should describe the nature of the innovative product or service that you want to focus on. Talk about what market needs this new service/product would satisfy and give background/justification for the development of this product/service. Task 3: Describe the 'target market' and evaluate the success of marketing the product/service How was the 'target market' identified that would benefit from this new innovative product/service? What communication/marketing methods were employed to convey the innovative nature of the product/service to the target market'? How this new innovative product/service served the needs of the target market and how the benefits offered were communicated to the target market"? Please evaluate the apparent marketing/financial success of the company that marketed the innovative service/product in question. If you are evaluating your own innovative idea, please talk about the expected benefits/outcomes of your innovation by making a strong argument about the likelihood of market uptake and thus expected financial rewards. Task 4: Identify the development approaches to bring the idea to market Innovation of product and services often require the careful evaluation of approaches and methods to bring the product to market. Describe the approach used by the company (or your start-up company) to bring this product to market. Think about alternative strategies and risks that may be involved