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3. Offering a new product/service to reach new customers Your business might be doing well, but there is no growth or development and there is a risk that your competitors might take away some of your customers. Innovation sometimes means developing a new product that targets a different market. Although video games were often played by boys, in 2006, video games giant Nintendo introduced the game console Nintendo Wii, successfully targeting girls and older customers with games like Cooking Mama and Brain Training. 4. Changing the way you provide a service By looking at the changes to the customer's lifestyle and needs, we sometimes realise that there might be better ways to serve them. Customers who do not have a lot of time might prefer to have their food or their shopping delivered to their homes, or they might like to do their banking online rather than in an actual bank. Not all innovation will bring success to our businesses, but it can give us the opportunity to grow and learn more about what we do and what our customers might want. What is it that keeping you buying from certain companies over others? Is it a price? A service or something special that you don't even know? Explore and let me know :) To your success!!!
Innovation in business Part 2.
2022年5月1日
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What does it mean to be innovative in business? In order for a business to survive in today's world, it is important that we regularly review what we are doing and how we are doing it. By considering new ideas and new ways of doing things, and trying to innovate, we can improve on our products/services, increase sales, reduce costs and make our processes more effective and efficient. Innovation is key to increasing profits. There are several ways a company can be innovative with their products and services. Today we will look at four of them. 1. Using the latest technology to improve your product/service When we think of innovation, we often think of new technologies. While they might be impressive, we should not use new technologies just because they are available. It is important to consider how the technology can improve our product/service and make a difference to our customer. Companies that produce cars, toiletries, household appliances, etc. often have a large R&D department to work on making their products better. 2. Responding to customer demands by changing what is on offer By listening to customer feedback, we can get their opinions on how we are doing and find out about what it is that they want. We also need to be aware of changes in customer demands and keep up with the times. When fast-food restaurant McDonald's realised that the market wanted healthier choices, they introduced fruit and salads, while removing the 'super-size' option from their menus.
Innovation in business
2022年5月1日
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A boy named Merryl is on a date with a girl named Honey. He realizes he can't remember the names of certain items so he tries to explain what he means by using the wrong words. Later he goes to the store and to the doctor and has the same problem. This story is written by me. Vocabulary: salt and pepper shakers: containers for salt and pepper thingamajig: a word people use when they don't remember the right word pepper spray: a spray used for self-defense baby wipe: a moistened paper towel used to clean a baby napkin: a paper towel used to clean the mouth after eating food smushed: smashed pico de gallo: salsa used in Mexican food croutons: small pieces of toasted bread used in salad cooking spray: a spray that keeps food from sticking to the pan goo: sticky, thick substance salad dressing: a liquid mixture used for salads stethoscope: a tool doctors use to listen to a person's heartbeat
Story: What is this called?
2022年4月30日
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