Question

Week 4 Discussion Collapse "Sources of Innovation" Please respond to the following: Discuss the two (2) sources of innovation classified as knowledge push and need pull. Provide an example of each classification and discuss two (2) driving factors that encouraged the development of these innovations. Select a type of innovation, discussed in the text, and present a strong argument why this source of innovation would be most effective in developing a competitive advantage for a specific company or industry of your choice. Be sure to explain in your response why you selected this innovation.

Answer 1

Knowledge push is the idea push.the creative or skilled people develop the idea and transform it into an innovation. for example: ITC initiate the second layer of its agri business model into E -chopal in 2000 by the corporate intity inrural india.

Need pull or Market pull is the user's or entrepreneur needs to develop the product to the market . the  effective pull marketing strategy is to create the interest , awareness about the product . example: ITC wanted to add involved getting farmers to go for shopping outside villages and sell what they produce. in this selling network 'Sanchalak' and 'samyojak' plays an important role.

Innovation approach of advertising between the Vdeocon and Akai:

• It was an advertisement that customer could make money after 6 years by buying an akai television at that day. the similar advertisement was videocon which had tag line of "greatest Money Back offer".
• These were the new way to attract the customers. they trying to differentiate eachother by financial offers, which is known as financial jugglury.
• then they differentiate by bundling i.e selling with other products and then exchange offers.they were using the new approach of perceived customer value.
• The innovative approach to the marketing of CTV's will work. Marketing looks at making create customer for short, medium and long run. this innovative attracted the basic need oriented buyers for short and medium run.