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    Innovation: MKTG 3406

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    Romina Andrea Morales Aquevedo
    This document discusses the importance of innovation and creativity for brands. It makes three key points: 1) Innovation gives brands traction in the marketplace and relies more on intuition and insight than logic. It requires thinking differently than traditional business strategies. 2) Creativity ignites passion in customers but is difficult to control. It involves magic, not just logic. Coming up with innovative ideas often means abandoning norms and seeking input from outside an organization. 3) Many aspects of a brand can be innovated, from names and features to pricing, distribution, promotions, and icons/avatars used to identify the brand visually. Truly innovative ideas surprise people and make them react emotionally.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Innovation: MKTG 3406

    Uploaded by

    Romina Andrea Morales Aquevedo
    36 views26 pages
    This document discusses the importance of innovation and creativity for brands. It makes three key points: 1) Innovation gives brands traction in the marketplace and relies more on intuition and insight than logic. It requires thinking differently than traditional business strategies. 2) Creativity ignites passion in customers but is difficult to control. It involves magic, not just logic. Coming up with innovative ideas often means abandoning norms and seeking input from outside an organization. 3) Many aspects of a brand can be innovated, from names and features to pricing, distribution, promotions, and icons/avatars used to identify the brand visually. Truly innovative ideas surprise people and make them react emotionally.

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    innovations

    Original Title

    Innovation

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    This document discusses the importance of innovation and creativity for brands. It makes three key points: 1) Innovation gives brands traction in the marketplace and relies more on intuition and insight than logic. It requires thinking differently than traditional business strategies. 2) Creativity ignites passion in customers but is difficult to control. It involves magic, not just logic. Coming up with innovative ideas often means abandoning norms and seeking input from outside an organization. 3) Many aspects of a brand can be innovated, from names and features to pricing, distribution, promotions, and icons/avatars used to identify the brand visually. Truly innovative ideas surprise people and make them react emotionally.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    36 views26 pages

    Innovation: MKTG 3406

    Uploaded by

    Romina Andrea Morales Aquevedo
    This document discusses the importance of innovation and creativity for brands. It makes three key points: 1) Innovation gives brands traction in the marketplace and relies more on intuition and insight than logic. It requires thinking differently than traditional business strategies. 2) Creativity ignites passion in customers but is difficult to control. It involves magic, not just logic. Coming up with innovative ideas often means abandoning norms and seeking input from outside an organization. 3) Many aspects of a brand can be innovated, from names and features to pricing, distribution, promotions, and icons/avatars used to identify the brand visually. Truly innovative ideas surprise people and make them react emotionally.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 26

    INNOVATION

    MKTG 3406

    MARKETPLACE TRACTION
    Innovation is what gives brands traction in the
    marketplace
    Our best thinking depends more on the illogical skills of
    intuition and insight
    A logical argument rarely convinces anyone of anything
    important
    Innovation requires creativity
    Creativity is counterintuitive to traditional business
    strategies

    CREATIVITY
    Mistrust of creativity we have been taught to trust the
    rational and the scientific
    In spite of our continuing reliance on rationality we dont
    do many things by logic
    Humans react to emotions and feelings and use our
    senses to guide us
    Do you remember any recent ads that have moved you or
    excited you?
    If you dont remember them or react emotionally to them
    its the fault of execution not strategy

    EXECUTION
    Execution read creativity - is the most difficult part of
    the branding mix to control
    What is creativity?
    Its magic, not logic, that ignites passion in customers
    Anything new or untried is unsafe
    Every business wants to be innovative and to be known
    for innovation but few are willing to step outside the norm

    INNOVATION
    Innovation
    Innovation
    Innovation
    Innovation
    Innovation

    lies at the heart of better design


    is the prime building block for better business
    magnifies drive inside the organization
    slashes the costs of inefficiency, duplication
    conquers corporate ennui

    It leads to uncommon, yet practical responses to real


    problems

    LEADING

    You cant be a leader by following

    FOLLOWING
    Competition generally breeds also-rans everyone
    jumping on the same bandwagon no one willing to take
    a chance
    Our natural instinct is to go with the group how is this
    manifest in our daily lives?
    Creativity demands the opposite it requires a rethinking
    of the status quo

    ORIGINALITY
    To achieve originality we need to abandon the comforts of
    habit, reason and the approval of our peers
    To achieve originality we need to strike out in new directions
    In the world of branding, creativity doesnt require reinventing
    the wheel
    It requires thinking in fresh ways
    MAYA The Most Advanced Yet Acceptable solution

    ORIGINALITY
    Creative professionals excel at MAYA
    Market researchers describe how the world is
    Creative people describe how it could be

    M
    X
    S

    CORPORATIONS VS ORIGINALITY
    Fear

    of stupid
    Some companies are so afraid of looking less than dignified
    that everything they do is proud, stiff or inhuman
    Against this backdrop of imposed dignity any smart
    company, product, brand that dares to be different has an
    excellent chance to stand out.
    EG Volkswagen Bug, Kia Soul use deprecating humour to
    surprise audiences

    INNOVATION
    Q How do you know when an idea is innovative?
    A When is scares everyone.
    What scares, surprises or moves people?
    It takes more guts than Canada Packers to be different.

    DONT ROCK THE BOAT


    What characteristics stifle creativity and innovation?
    How can change occur?
    Where can you find innovative ideas?
    Most likely from outside
    Or from people inside who think outside

    NEW BRAND IDEAS


    Elevator simple
    If people dont get it forget it
    If it takes too long or too much effort for your target
    audience to interpret what you are and what you mean,
    theyll forget you
    Good brands reduce their differentiated meanings to a
    clear, concise and coherent thought
    An idea people can understand in the split second you
    have their attention

    WHAT TO INNOVATE?
    Names
    Features
    Benefits
    Price
    Channels of distribution
    Promotions
    Icons and avatars

    WHATS IN A NAME?
    Many sound alike names in the marketplace most good
    names are taken
    The right name is the most valuable asset
    The right name can speed acceptance
    The wrong name can cost millions in workarounds over
    the life of the brand
    The need for good brand names originates with
    customers
    Customers will always want convenient ways of
    identifying, remembering, discussing and comparing

    GOOD NAMES
    1. Distinctiveness
    2. Brevity
    3. Appropriateness
    4. Easy spelling and pronunciation
    5. Likability
    6. Extendability
    7. Protectability

    FEATURES
    Add complexity
    Simplify
    Usabiliy
    Change size
    Colours
    Shapes
    Textures
    Components eco friendly or renewable resources

    BENEFITS
    Health and safety improvements
    Reliability
    Status
    Accuracy
    User friendliness
    Ease of operation and repairs
    Ease of application

    PRICE
    Up size more for less
    Decrease price
    Economies of scale
    Share costs
    Bundling
    Brand advantage
    Supply chain efficiencies
    Intermediary agreements

    DISTRIBUTION
    Change distribution channels
    Streamline distribution
    Scale operations
    Make it more convenient for customers
    Decrease shipping times
    Use unusual channels
    Make the brand available in unexpected places

    PROMOTIONS
    Innovate in how, where and what you do
    Make customers expect the unexpected
    Break through the thousands of messages people see
    every day
    Deliver on the brand promise through flawless execution
    of promotions
    Be first to use new techniques
    Dont follow the herd
    Under promise and over deliver
    Give your promotions legs with an ongoing brand story

    ICONS & AVATARS


    Logos are dead! Long live icons and avatars!
    Logos are products of the printing press and mass
    communication
    They evolved as a way to identify brands rather than
    differentiate them

    ICONS & AVATARS


    A brand icon is a name and visual symbol
    It can communicate a market position
    An avatar is an icon that can move, morph, or otherwise
    operate freely as the brands alter ego
    For icon, think Shell, for avatar, think M&Ms or the
    Michelin Man

    ICONS & AVATARS


    Today branding is not about stamping a trademark on
    anything that moves
    Its about managing relationships between the company
    and its constituents
    Its about conducting conversations and communicating
    among many people over many channels

    ICONS & AVATARS


    We still have the printing press.
    But we also have the Internet, TV, telemarketing, live events and
    other media to work with.
    Icons and avatars respond to this new reality by jumping off the
    printed page and interacting with people wherever they are.
    When received well, an icon is a repository of meaning it
    contains the DNA of the brand, the basic material for creating a
    total personality distinct from the competition

    ICONS & AVATARS


    Team Exercise
    Discuss any icons or avatars you are familiar with
    What emotions do they rouse?
    Are they consistent across media?
    Are they playful, serious, funny, solemn?
    Do they have positive or negative connotations for
    you?

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