cvfzwdcwxbwdfxfxsafrq
|

4 Steps to Company & Product Innovation

NO RATINGS
View comments: newest first | oldest first | threaded
Page 1 of 2   Next >   Last >>
pocharle
User Rank
Supply Network Guru
Re: Competitive Focus
pocharle   11/12/2013 8:23:48 PM
NO RATINGS

"...but incredibly costly"


Only if you get caught in certain scenarios. Unfortunately, it may well pay off in the short term for many imitators.

Hailey Lynne McKeefry
User Rank
Blogger
Re: Competitive Focus
Hailey Lynne McKeefry   11/12/2013 2:40:21 PM
NO RATINGS

@Ford, yes, at least in the supply chain and electronics industry imitation is NOT the sincerest form of flattery...or maybe it is, but incredibly costly.

Ford Kanzler
User Rank
Blogger
Competitive Focus
Ford Kanzler   11/12/2013 1:03:23 PM
NO RATINGS

Focusing on competitors doesn't mean copying them. It can also allow a company to see what its competitors are NOT doing that customers want or need. What's missing? It can show you a means of differentiating your brand in your prospects' minds. Copying isn't recommended. However, ignore competitors at your peril.

Hailey Lynne McKeefry
User Rank
Blogger
Re: Innovation doesn't have to be about products
Hailey Lynne McKeefry   11/12/2013 12:51:36 AM
NO RATINGS

@Ford, thank you for saying it so well! that was exactly where i am getting at. I'll add to your list of companies to learn from : Disney for customer service, and Zappos for supply chain management.

Hailey Lynne McKeefry
User Rank
Blogger
Re: Focus on competitors, but think different
Hailey Lynne McKeefry   11/12/2013 12:49:19 AM
NO RATINGS

@Lily, that's certainly one possibility. Another is watching the competition and seeing where they are leaving a whole or not satisfying or listening to customers. I think the Virgin Air example is great example of that--he found himself hating his flying experience and deciding to build a company that really made the experience good for customers.

Ford Kanzler
User Rank
Blogger
Innovation doesn't have to be about products
Ford Kanzler   11/5/2013 4:11:07 PM
NO RATINGS

Often the path to becoming strategically different and valuable to customers isn't about a product innovation. Distribution (think Costco) , pricing (think Zipcar), sales (consider Tesla Motors) as well as design and manufacturing can lead to competitive advantages.

Yes. Definitely keep and eye on competitors. Copying them no. Learn from and take advantage of their errors, yes. Customer MAY be a source of ideas for change, or not. Some successful companies don't wait for their customers to discover or ask for what's next. Think Apple. This is an area of business that's truly creative. Doing it the same way isn't.

Lily
User Rank
Inventory Controller
Re: Focus on competitors, but think different
Lily   10/31/2013 9:49:48 PM
NO RATINGS

Hailey, I don't mean copy, but focusing on competitors would lead to more improvement on original functions and less revolutionary innovation. 

In addition, either old or new customers all contribute to the appear of new idea. 

Hailey Lynne McKeefry
User Rank
Blogger
Re: nice post
Hailey Lynne McKeefry   10/31/2013 7:52:39 PM
NO RATINGS

@FlyingScott, see my last comment. It's about being aware of teh competitive landscape and the changing market.

Hailey Lynne McKeefry
User Rank
Blogger
Re: Focus on competitors, but think different
Hailey Lynne McKeefry   10/31/2013 7:51:44 PM
NO RATINGS

@Lily, when he says "focus on the competition" he didn't mean to copy them. What he meant was that you have to always know where in the pack you are and how the market is evolving. Apple created an iPad, for exmaple, and all of a sudden there was a new bar for personal computing. It didn't mean everyone else hsould make an iPad, but rather that they need to ask what need was there that wasn't being met. Then figuring out how the organization can position itself to be in the game. Customers are important,but you have to look at getting new customers, not just pleasing the old.

FLYINGSCOT
User Rank
Supply Network Guru
nice post
FLYINGSCOT   10/31/2013 1:43:46 PM
NO RATINGS

I liked your post but wondered about your point on focusing on competition and not customers.  The trouble with that is the lag between seeing what the competition has launched and then repsonding with one of your own.  Surely it is better to listen to your customers' problems and then create novel solutions.

Page 1 of 2   Next >   Last >>


More Blogs from Hailey Lynne McKeefry
You can be the hero of your agile supply chain. This infographic shows you how.
FindChips.com is adding a paid service, called FindChips Pro, that provides new capabilities to help buyers consider the future, rather than relying on the past.
The talent shortage in the supply chain is real, but smart companies are helping their people learn the critical skills.
These eight companies are set to transform the manufacturing sector with automation technology.
By automating inventory visibility using Internet of Things (IoT) technology, retailers can significantly reduce the cost of inventory distortion, overstock, stock outs and shrinkage.
Twitter Feed
EBN Online Twitter Feed

Datasheets.com Parts Search

185 million searchable parts
(please enter a part number or hit search to begin)
EBN Dialogue / LIVE CHAT
EBN Dialogue enables you to participate in live chats with notable leaders and luminaries. Open to the entire EBN community of electronics supply chain experts, these conversations see ideas shared, comments made, and questions asked and answered in real time. Listed below are upcoming and archived chats. Stay tuned and join in!
Archived Dialogues
Live Chat 01/15: CPOs Re-Shape Their Business Roles
Increasingly chief procurement officers (CPOs) are re-shaping their organizational role to focus on creating results far beyond cost controls. A new IBM survey explores how.
Live Chat 11/12: Examining the Cyberthreat to Supply Chains
The number of cyberattacks is on the rise and hackers are targeting the supply chain. Drew Smith, founder and CEO of InfoArmor, will be on hand to discuss the reality of today's threat landscape and what to do about it.