Reference no: EM131161359
Managing Innovation Example
The ultrasound unit is an important diagnostic tool, producing images of organs. The technology is very valuable, but the equipment is bulky, heavy, and expensive, so it is used primarily in dedicated hospital facilities. ATL, a leading ultrasound company, decided to reduce the size of an ultrasound set-up to about the size and weight of a laptop computer. This would be accomplished by replacing many of the machine's solid circuits with software (in a process called "digitalizing"), reducing size and costs. The researchers reasoned that a portable and inexpensive ultrasound unit would find market opportunities in totally new niches. Smaller size and lower cost would allow the units to be placed on ambulances or into physician's offices - market niches that were impossible to reach with the technology of the day. The researchers later became part of a project team within ATL, and thereafter became an entirely new company, SonoSite. Late in 1999, SonoSite introduced its first unit, which weighed just 6 pounds and cost about $25,000. SonoSite targeted niches that full-sized ultrasound products could not reach: ambulatory care and foreign markets that could not afford the more expensive equipment. In 2010, the company sold over $275 million of product.
Now it's your turn, research a company that has managed an innovation and provide the story. Include, The company, the technology, the impact made with the innovation and short history of the industry and need for the innovation.
Along with providing your example, please answer the following question:
- How are companies coming up with strategies to exploit and benefit from the new era of digitalization?
|
How would you price it to achieve your objectives
: Consider the product you are using for your marketing plan. How would you price it to achieve your objectives? Describe the pricing strategy you would use to introduce your product to the market, and why you selected that strategy over other optio..
|
|
Are they more focused on strength or risk and deficits
: What about in your community? What do you see as the predominant role of adults in your community? Are they more focused on strength or risk and deficits? Do they provide relationships and programs, or just programs?
|
|
Judge the main final action of movie gone baby gone
: judge the main FINAL action as moral or immoral- of Gone Baby Gone" and "Sleepers".- Support your position by applying Kant's moral philosophy.
|
|
Marketing creates or satisfies consumer needs
: There is a debate in marketing on the question of whether or not marketing creates or satisfies consumer's needs. Marketing has often been defined in terms of satisfying customer's wants and needs and some critics maintain that marketing goes beyo..
|
|
History of the industry and need for the innovation
: Now it's your turn, research a company that has managed an innovation and provide the story. Include, The company, the technology, the impact made with the innovation and short history of the industry and need for the innovation
|
|
Distribution channels case study
: You are asked to help formulate the marketing plan for the entrepreneur starting Chic Soap. The concept behind Chic Soap is simple; it sets out to incorporate fashionable perfumes such as Obsession, Raffinee and Opium into a high quality white soa..
|
|
Identify two barriers in current school or community
: What were your first impressions after watching and reading the various resources on building relationships and engaging adults? Which ideas really ‘jumped out' at you? What ideas (if any), that were presented are you currently seeing in your scho..
|
|
When is sampling more appropriate than a census
: In what types of situations is conducting a census more appropriate than sampling? When is sampling more appropriate than a census?
|
|
Find the value of a call option on the given stock
: Use the Black-Scholes formula to find the value of a call option on the following stock: Time to expiration is 6 months, Standard deviation is 50% per year, Exercise Price $50, Stock Price $50 and Interest rate is 3%.
|