Co-creation business model explained using an example of successful implementation at Local Motors
A co-creation model is a business model where the users of the product are integrated into the development of the product from the early stages of the conception. Such a model allows the company to be at the same time aware of its consumer’s needs, and innovative regarding…
What is the significance of Conscious Consumption?
Conscious Consumption is a social movement that is based on increased awareness of the impact of purchasing decisions on the environment, consumer health, and life in general. It is also concerned with the effects of media and advertising on consumers. Every purchase decision that we take has a…
HOW “PEOPLE” CAN HELP IN SUCCESSFULLY IMPLEMENTING A MARKETING STRATEGY PLAN?
Strategic Interpersonal Relationships can help drive your business to new levels. Developing strong interpersonal relationships is an increasingly efficient tactic to be a successful business. PEOPLE part of the 7 P’s of the marketing mix is one of the most important aspects of the marketing mix, it not…
Porters 5 Force Analysis of Retail Sporting Goods Industry and it’s Strategic Implications
(I) THREAT OF NEW ENTRANTS The market attractiveness in the retail sporting goods industry is high which makes new entrants a viable competitive force. The cost of entry is high especially if the new company intends to compete with a chain store the capital required to enter the…
Facilitating and Rewarding Creativity during New Product Development
Companies can enhance their employee’s creativity during new product development by training and rewarding creativity. Companies usually adopt various approaches throughout various levels to facilitate creativity. It is usually achieved by assimilating three different strategies within the organizational structure during product development; Extrinsic Rewards, Creativity Training, and Intrinsic…
SIMPLE GUIDE TO PLANNING, ORGANIZING AND COORDINATING WORK
Planning, Organizing, and Coordinating involves proactively planning, establishing priorities, and allocating resources. It is expressed by developing and implementing increasingly complex plans. It also involves monitoring and adjusting work to accomplish goals and deliver to the organization’s mandate. 1. Prioritize Own Work: Efficiently use time and complete tasks/projects…