In the fast globalising Indian economy, where a plethora of similar 
goods and services are vying with one another to get the consumer on their side, what sets a company apart is its quickness in anticipating customer demand and innovating accordingly. And that makes all the difference between success and failure!
When Steve Jobs gregariously introduced the iPod in October 2001, he not only changed the way people listened to music, but also managed to give a big thumbs-up to his company. How? Well, till then, Apple was struggling for mass acceptance of its computer brand Macintosh, which was going nowhere despite tall promises, in the face of stiff competition from Windows based PCs. But check this: analysts admit that ever since the iPod became a global sensation, the halo effect has rubbed off some on Apple’s computer business and Macintosh sales are on the revival path. That’s the impact of a seemingly innocuous innovation (in this case a 2-4 inch small musical device) on a company’s fortunes!
Closer home, take the case of Kingfisher Airlines. When flamboyant liquor baron Vijay Mallya decided on dabbling in the lucrative aviation sector, he went totally over-the-top and thought up an avant-garde way to lure consumers. The next thing one knew, his stylish Airbuses were in the air, replete with a state-of-theart personalised inflight entertainment system, a sassy cabin and ground staff in bold red attires, designer interiors in his aircraft, with the flashy Mallya himself greeting passengers on board. Coming for an audience, starved for such grandeur during travel, the inoovation paid off. Mallya’s special brand of air travel boasts of a sizable chunk of the total aviation pie within just two years of its launch.
Either via an inventive new product in the marketplace; or translating new ideas into a substantial product or service; or even successfully marketing and exploiting a new idea... innovation is fast becoming a winning habit for companies. Here’s a dekho at the 25 companies who are increasingly laying emphasis on being innovative in the Indian market. Their innovation need not always be out rightly radical (involving huge R&D expenditures). Sometimes it may be just a brilliant new idea (iPod?) or just an original adaptation of a known idea (Kingfisher Airlines?); It may just involve a minor tinkering with any of the 4Ps of Marketing (Product, Price, Promotion & Place) – a competitive pricing strategy, a different packaging, out-of-the-box marketing... Anything works, provided the demand is anticipated correctly. So, here they are in all their inventive glory...
For more articles, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM, ADMISSIONS FOR NEW DELHI & GURGAON BRANCHES
IIPM, GURGAON
IIPM Economy Review
goods and services are vying with one another to get the consumer on their side, what sets a company apart is its quickness in anticipating customer demand and innovating accordingly. And that makes all the difference between success and failure!When Steve Jobs gregariously introduced the iPod in October 2001, he not only changed the way people listened to music, but also managed to give a big thumbs-up to his company. How? Well, till then, Apple was struggling for mass acceptance of its computer brand Macintosh, which was going nowhere despite tall promises, in the face of stiff competition from Windows based PCs. But check this: analysts admit that ever since the iPod became a global sensation, the halo effect has rubbed off some on Apple’s computer business and Macintosh sales are on the revival path. That’s the impact of a seemingly innocuous innovation (in this case a 2-4 inch small musical device) on a company’s fortunes!
Closer home, take the case of Kingfisher Airlines. When flamboyant liquor baron Vijay Mallya decided on dabbling in the lucrative aviation sector, he went totally over-the-top and thought up an avant-garde way to lure consumers. The next thing one knew, his stylish Airbuses were in the air, replete with a state-of-theart personalised inflight entertainment system, a sassy cabin and ground staff in bold red attires, designer interiors in his aircraft, with the flashy Mallya himself greeting passengers on board. Coming for an audience, starved for such grandeur during travel, the inoovation paid off. Mallya’s special brand of air travel boasts of a sizable chunk of the total aviation pie within just two years of its launch.
Either via an inventive new product in the marketplace; or translating new ideas into a substantial product or service; or even successfully marketing and exploiting a new idea... innovation is fast becoming a winning habit for companies. Here’s a dekho at the 25 companies who are increasingly laying emphasis on being innovative in the Indian market. Their innovation need not always be out rightly radical (involving huge R&D expenditures). Sometimes it may be just a brilliant new idea (iPod?) or just an original adaptation of a known idea (Kingfisher Airlines?); It may just involve a minor tinkering with any of the 4Ps of Marketing (Product, Price, Promotion & Place) – a competitive pricing strategy, a different packaging, out-of-the-box marketing... Anything works, provided the demand is anticipated correctly. So, here they are in all their inventive glory...
For more articles, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM, ADMISSIONS FOR NEW DELHI & GURGAON BRANCHES
IIPM, GURGAON
IIPM Economy Review
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