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Workout - Entrance Strategy

Workout - Entrance Strategy - Global Innovation Management...

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Unformatted text preview: Global Innovation Management Innovation Workout Entrance Strategy Global Innovation Management To Present • Prepare for your group to present – In 5-10 minutes – Describe your product, current competitors, history and future on 1 slide – Present a maximum of 1-2 slides per task (hand written) • For each of your conclusions from Tasks #1 to #7 • For sake of time, please to not include anything else Global Innovation Management Setup for the Workout • Pick a specific consumer product: – Choose a product where you have a thorough knowledge of the market and competitors – This is likely to be something that would be involved in a sport, hobby, job or other personal interest Quickly think through: Why customers buy this product (be honest) How customers buy this product (i.e., the consumption chain) Complementary products required to market this product Competences your firm needs to compete Global Innovation Management Setup for the Workout : Assume your company is going to produce its own brand of this product • Formulate an entrance strategy – Anticipating competitive behavior and response – Planning to learn when uncertainty is high • Assessing your project as it unfolds • Rather than meeting objectives set in advance • Remember – You can’t be sure that your competitors will react as you expect – You can’t be sure that technology, markets, etc. will pan out as you hope (or promise) – You don’t want to be responsible for meeting ‘the numbers’ • Where you have extreme uncertainty Global Innovation Management Task #1: State your Vision...
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Workout - Entrance Strategy - Global Innovation Management...

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