This report aims to discuss the dynamics of innovation in the music industry, with respect to the popular product iPod, which is the creation of the Apple company. Written by the innovation consultant of the organization, the analysis revolves around the theoretical concepts of…
(Albury, 2005) From the singers to the composers, from the lyricists to the manufacturers of the devices which are used for playing music – they all are the key players in the music industry. The player that has been chosen for this report is the manufacturer of the music playing device. Apple introduced the revolutionary portable media player, called iPod on 23rd October 2001. (Breen, 2003) And this has been a major contribution to the world of innovation, since it radically altered the way music was being listened to.
Innovation is to produce something new, whether it is an idea, a method or a device. Innovation opens the horizon for new dimensions to be explored and also fulfill some market niche which was unexplored and touched upon before the innovation. (Tushman, 2004) Moreover, the definition of innovation does not end there. Its scope is pretty vast. Innovation is not just about introducing a new thing; it is also about improving something old by adding an element of freshness and newness to it. Innovation is all about creativity. (Tidd, 2006)
Innovation can happen in any field but mostly it is important in the field of business because that is where competition is intense and companies are fighting to gain the attention of the firm and they need to get a competitive edge somehow to come to notice. Innovation gives them that. Innovation requires creativity, and for a product to be successful ultimately, we need to make sure that it is functioning properly and is fitting the purpose for which it was created. (Tumi, 2002) Therefore, doing trial and error and continuously experimenting with your imagination is the preparation for an innovative product. For this purpose, companies open Research and Development Departments where they can experiment all they want to before finally giving a product to the end user.
Innovation is a concept which has been studied by managers and analysts time and ...
Cite this document
(“Innovation (Apple Ipod) Essay Example | Topics and Well Written Essays - 4000 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/395194-innovation-apple-ipod
(Innovation (Apple Ipod) Essay Example | Topics and Well Written Essays - 4000 Words)
“Innovation (Apple Ipod) Essay Example | Topics and Well Written Essays - 4000 Words”, n.d. https://studentshare.net/miscellaneous/395194-innovation-apple-ipod.
This paper explained the theoretical aspects of innovation strategy and described the strategic steps of Apple Inc. This paper has highlighted that Apple has been very successful in innovation and this has helped the company achieve sustainable competitive advantage through innovative product design, product differentiation and very effective own-store retailing strategy.
Innovations in this industry are observed to take place more frequently rather than other industries in the current phenomenon. The sales and adoption of tablet and smart phone are further being determined by high popularity of mobile phones. In present days, there is high requirement for immediate, on-demand access to the websites, computer and other networking tools along with numerous services among customers as well as organisations.
In fact Microsoft pushed Apple far behind during this period and many people raised doubts about the future of Apple during this period. However, Apple bounced back during the latter part of 90’s and at the beginning of 2000 with the introduction of its popular “i” series products such as iphone, ipad, ipod, imac, itune etc.
The ability to keep in pace with the customer expectations is an important factor in determining the success and failures of an organization at present. Google and Apple are two of the most prominent organizations at present which conquered global markets with the help of innovative products and services.
The remarkable feature of Apple and its market strategy is constant innovations and product improvements which has a positive impact on company's image and customers' loyalty. Apple introduced the iPod in 2001 which marked a new ear in digital devices.
The strengths of market include innovation, technological change, customers' loyalty and brand recognition.
72). Crawford (1991, pp. 35-36) as well as Souder (1987, pp. 51-54) in agreeing with Drucker (1985, pp. 69-70) state that innovation is an essential facet of business activity as represented by survival in the fast changing competitive environment whereby organisations need to establish departments that have distinct responsibilities, along with the nurturing and development of a corporate culture that fosters innovation, as these are foundations for looking at products in a new light.
The organization is undergoing frequent changes in terms of their internal business structure and marketing direction. The nature of the company as one of the primary producers of computer technology is such that frequent changes in the corporate structure must be