Problem
Investigate one of the numerous broad industries listed below. Think of an innovation that a typical company in the sector could create. Create a clear business strategy that details how your innovation could enhance the company's procedures and productivity. Please adhere to the outline provided below.
The innovation may be of any kind. Maybe you want to introduce a new technology into production processes, adapt the product to some new circumstance or condition, change how the company interacts with customers, or something else entirely. You will have to carry out some general research of the industry and the operations of its companies for your innovation to make any sense.
IMPORTANT: THIS IS NOT A COMPANY PROFILE! You are profiling an innovation that has become important for your assigned industry and figuring out how to use it in a business.
Innovation Proposal Sections
A. Overview (350-500 words)- Describe what your innovation is and how it will change what a typical company in its industry does. You must state clearly whether your innovation is in the category or product innovations or service innovations. What opportunities does the innovation open?
B. Customer Profile & Marketing Plan (400-600 words)- Profile the type of customer that this innovation will benefit. Your marketing plan should focus on how any company would market this innovation. You should use market segment analysis categories where you think they are appropriate. In what ways will your innovation benefit customers? What marketing and advertising channels would best reach your customer? Describe how you would use these channels.
C. Feasibility (400-600 words)- How will you implement your innovation in a company's practice? How easy or difficult will it be, and why? Where in a company's practice will the innovation appear? What must employees know to make best use of the innovation?
Choose ONE of the following industrial sectors
• Web hosting and cybersecurity services
• Logistics and warehousing for wholesale
• Data management and sales
• Aerospace engineering supports
• Small-holding (less than $1-million) investment funds
The most crucial thing to keep in mind is that THIS IS NOT A COMPANY PROFILE. You're talking about an innovation that might affect a lot of businesses, or it might even revolutionise or disrupt the entire sector. Concentrate your examination on the innovation itself-what it is, what it accomplishes, and how it modifies industry practises as a whole.