Marketing Essay Examples - Innovation

1.
Diffusion of innovation is one of the critical theory in the field of marketing. Diffusion of innovation elaborates on why, how and what rate is new technology and ideas spreading in various cultures. One of the individual that popularized diffusion of innovations is Everett Rogers. Innovation diffuse through various stages and spreads through cultures. Diffusion of innovation means that every market is made of customers who are different in the willingness and readiness to adopt new products in the marketplace. Based on the theory an innovative product diffuses in the marketplace in an overlapping and successive waves. Studies show that the pattern of adoption of new customers is different, which entails innovators, early adopters, early majority, the late majority, as well as laggards. These shows the diffusion of new products entails an adoption process. Each of the categories of adopters have various characteristics. There are various examples associated with diffusion of innovation. One of the examples is in the health care. It entails the diffusion of information technologies and medical in the health care sector (Rogers, 2003). The new technologies such as computer diffuse in the market through a process. Another example is the diffusion of specific music in the market. A specific music diffuse more in certain cultures compared to others. For example, the rap music is popular in the world, especially in the white America. In the Middle East, culture is much rooted; hence, new products such as clothes do not fare well in the market.
2.
There are five critical attributes if innovation according to Roger’s. Rogers’s framework provides classification standards that describe the perceived attributes of innovation. The five attributes include compatibility, relative advantage, complexity, observability, and trialability. Relative advantages refer to the observation of benefits and advantages that arises due to the adaptation of specific innovations (Rogers, 2003). Roger’s asserts that an adopter has to focus on its relative strengths. For example, an adaptor of technology one must carry out research on the benefits of a MacBook over iPad. Compatibility entails how a new product or innovation fit the demand and needs of an individual. An innovation becomes compatible with cognitive characteristics and lifestyles that are assimilated into individual life. Complexity entails the degree of difficulty, which potential investors go through. For example, people in the local regions find it difficult to adopt technological innovation because it is hard. Trialability refers to an attribute that entails testing an innovation (Hock & Senge, 2009). For example, using testing on how a car operates, especially on speed and other aspects. Observability is the final attribute acknowledged by Roger’s. One of the examples entails the demonstration on computer interface and other observable features.
3.
There are various types of innovation adopters. These types include innovators, early adopters, early majority, late majority, as well as late adopters. Each of these categories have various characteristics, based on financial liquidity, social status, opinion leadership, and time of adoption. Innovators are the innovators adopters who are ready to take a risk at any given time. On the same note, they have the highest level of financial liquidity and social status. They are ready to adopt new technologies, which have the tendency of failing, nut their financial stability enables them to absorb the failures. Early adopters is also another type of innovation adopters. They focus on opinion leadership. In fact, they have higher financial liquidity, social status, and advanced education. They are more focused on adoption rather than innovation. Early majority adopt an innovation after a certain degree of time. They mostly come after the early adopters and innovators (Rogers, 2003). The have average contact and social status with other adopters. Early majority seldom focus on opinion leadership. Late majority adopt the innovation after an average participant. They approach innovation with many skeptics. They are skeptical about adopting an innovation. They have little financial liquidity, and their social status are below average. Late adopters are the last to embrace innovation and adopt. Thy focuses on traditional issues and has the lowest social status and financial liquidity.
4.
Innovative organization enjoy various positive outcomes that are related to innovation. The innovative organization focus on technological advancement and are at the forefront of adopting and advancing in the new markets. One of the advantages of the innovative organization is creativity. Innovative organizations focus on employing competent and creative individuals who have the potential of creating a new product. Such organizing enhances its production process and success of the product in the marketplace. Another advantage is increased productivity. These are because the employee is in a position to execute and create new processes. For an innovative organization, competitive advantage is one of the critical advantages (Tushman & O'Reilly, 2002). They exhibit tremendous leadership qualities that are streamlined towards latest innovations and advanced technology. In fact, innovative organization are always the leaders in creating a certain product. Other competitors tend to create the same product after the innovative organization has led them. Innovative organizations also have the advantage of experience. They enjoy scientific advancement and get the exact process for product creation and development. The innovative organization has the advantage of name and brand recognition in the marketplace. They lead the market in innovation; hence, their brand name is always at the top. Other advantages include job satisfaction, efficiency, as well as teamwork.
5.
Innovation is facing much resistance and rigidity to be adopted in society. There are several reasons why people oppose new innovative ideas as follows. Geopolitical Affairs, differences ideologies between countries or regions has hampered assimilation of innovation. Sometimes sophisticated innovation are made but cold wars of nations and politics invested interests. They reject because of superpower supremacy of capitalism and communism. For instance, technologies of Western nations may not enter Middle East or Russia and vice versa.Cold wars are experienced, and each rival tend to seek same ideology to perceived friendly nations, for instance, capitalism and communism (Tushman & O'Reilly, 2002). Religion hinders because people believe that innovation is a detriment to their faith and against will and nature of their supreme being. They lament that it is a way of demeaning and disrespecting of their God. They may term as satanic, secularism, crusading and evil. Most of the scholars and scientists faced hostility in Europe in 16th and 17th centuries due to their innovations, and they had reservations. Some of them were tortured because they scientific innovation. Conservative culture is maintained by people, and they resist so much. It is perceived as threat to traditions way of living their native culture. They have hardline taboos and restrictions that fear that culture may disintegrate upon accepting it. These stereotypes limit and resist at all costs to advancement. Fourthly, ignorance and lack of budgets, most of the societies do not have knowledge and exposure to these developments. This may be for the level of literacy or marginalization hence they do not experience the importance of globalization. Consequently, ignorance has adverse effects; allocation of resources for innovation will be a problem. In developing nations, they lack resources to fund and incubate innovators since it is very expensive and needs more commitments (Hock & Senge, 2009). People like ‘watch and see’ mentality they do not like to be leaders in everything new discovered. They retreat and wait for an idea to operationalize and later embrace it. They are not risk takers but laggards who want success story to accept. They tend to be operational rather than innovative. They have different opinions and reservations at first instance. Creativity and critical thinking are not common, but they are willing to adopt later.
6.
Culture and innovation have a common relationship; Culture is what people do in day to day activities in any setting of the organization. New entrants in a culture of innovation are exercised by repeating patterns until it is part of life. Leadership influences the certain way of doing things, they risk and embrace new ideas irrespective of consequences. People feel the importance of exercising innovation (Hock & Senge, 2009). Constantly, innovation becomes a culture and willingness to be part and parcel of organizational activities. This synergy makes innovation and culture to work in tandem.
7.
We need innovative leaders so that they formulate policies, make the legal framework, allocate resources and visionary leadership. They encourage employees to think of outbox policy hence tapping of talents and strengths is highly enhanced. These strategies fast track and favor innovation. For instance Singapore, they got independence in 1960 but they were not endowed with natural resources like minerals. Their leader had visionary and innovation leadership that in return, the country grew faster than an Asian peer. As per now their prosperity is a force to reckon with, it is among Asian Tigers. Innovation in twenty-first is a necessity, not an option; globalization has become common and unavoidable (Hock & Senge, 2009). Population has grown, and resources have been depleted, new strategies are needed to curb these challenges. Global warming and ICT are emerging trends that every organization should adapt or fail to meet their objectives due to competitiveness and complexity
8.
There are various cases of innovation diffusion. It is worth noting that consumer behavior play a key roles in the process. The innovation diffusion processes are based on Roger’s concepts, especially in analyzing the process. One of the cases of innovative diffusion is the Philips CD-I (Compact disk interactive) entertainment system. The Philips CD-I and the audio and television compact disk was expected to take the performance of Philips into the 21st century. The diffusion process of the new CD-I was slower than expected. These influence the innovation diffusion of the product in the market. The reason for the slow innovative diffusion was that the company failed to engage early adopter and innovator segments. The company focused on the market approach from the onset of the target market, which included relatively wealthy, technologically advanced, as well as married with school-aged siblings. The product also missed some of the features that had been included in product planning and development. These created difference between the product experience and advertising campaign. In a general perspective, the failure of the company to target early adopters and innovators led to slower penetration and diffusion of the product than it was expected (Hock & Senge, 2009).
9.
There are various things that I have learned from the client project. One of the tremendous lessons is that it created an avenue for new experience, especially when working with them. On the same note, through the client project I am in a position to work with a large number of people and share ideas. In fact, through the client project it came to my realization that innovation is possible. In addition, it enhanced my skills in communicating to business stakeholders, especially on issues related to business improvement. Consultancy is one of the critical issues in business. Client projects improved consultancy skills and how to advice on various business matters. On the same note, consultancy did not only enhance my professionalism in the business sector but also on issues related to life consultancy. In the general perspective, client consultancy enhanced professionalism in consultancy, improved innovative skills, and improved experience to work with others.
10.
Improved future client projects could be improved through suggestions based on experience and course work. One of the suggestion is ensuring that there are no rules or guidelines to follow. These create an avenue for open ideas and skills. In most cases, rules and guidelines tend to prevent open thoughts. The client project should be streamlined towards improving real life situations. The course has to focus on improving the general life of those undertaking the course.

References

Hock, D & Senge, P. (2009). One from Many: VISA and the Rise of Chaordic Organization. London: Barrett-Koehler Press
Rogers, E. (2003). Diffusion of Innovation. New York: Free Press
Tushman, M., & O'Reilly, C. A. (2002). Winning through innovation: A practical guide to leading organizational change and renewal.