Strategic Marketing Management for Radical - myassignmenthelp

Question: Discuss about theStrategic Marketing Management for Radical Innovation. Answer: Recommended Strategies Radical Innovation Strategies What is it? The Radical Innovation strategies adopted by the company are the method that the company is adopting for doing something different. The new thing can be done in developing new product, new process, new business model and others. It is very different from other market strategy as it requires t develop new product or process line. This type of innovation has the power to change the structure of the business that helps them to enter the market in a better way (Cabanes et al. 2016). Why do it? Radical innovation benefits the business sin various ways. It is beneficial for the company that wants to enter the market with new product or process for their business. it helps the business to take up new technologies and organizational change in their business environment. It involves developing products that are very new to the customers and the market. Radical innovation also assists the company in taking up Big I innovation that is taking up big and new innovative strategies for the business. it has the potential to offer the business with a new market and product to enter the industry again and help them gain additional rewards (Norman and Verganti 2014). How do we do it? Radical innovation steps and process differs from industry to industry because of their role and functions. it can be implemented in their processes or in their product so that they can stand out of others. Airflight too needs a radical innovation to penetrate into the market with better strategies and process in their spare part business process to their domestic clients. The main innovations required are the supplying and inventory business of the company in their spare part department. There are various issues that the company is facing while supplying spare part to the clients. The main area in which radical innovation strategy is to be done is to develop app that can easily monitor the clients and supplier side inventory. For the purpose, the company should develop website for the client in which they can log in and order spare parts for their aircraft. This process will help the company to connect to the customers, suppliers and other business partners directly and maintain the ir data effectively. What not to do? Various steps and problems might occur while implementing the strategy in the spare part department of Airflight business. Thus, the company should not just start implementing the task without any prior plan for the innovation. The company needs to follow a plan for the innovation stating the objectives and the cost required for the innovation. Secondly, the company should not stop its past supply chain channels it used for its business in distributing spare parts to its clients. This is because the clients are used to its past methods and it will be difficult for them to take up new method suddenly. Thirdly, the radical strategy planned by the company should not be unrealistic as that might prove to be a failure for the business. References Cabanes, Benjamin, Philippe Galy, Pascal Le Masson, and Benoit Weil. "Technical staff management for radical innovation in science-based organizations: a new framework based on design theory." InRD Management Conference. 2016. Norman, Donald A., and Roberto Verganti. "Incremental and radical innovation: Design research vs. technology and meaning change."Design issues30, no. 1 (2014): 78-96.