The main product types of Kellogg’s cereals are in market segments that are mature and slow in growth. The instant cereal market is moreover dominated by products aimed at children. It is a highly competitive market with low growth opportunities that generally hold companies back. Kellogg’s products, however, appear to be innovating in a number of different ways. One way is through packaging and product delivery. The size and convenience of packaging can be used to appeal to consumers who want convenience and packaging quantities that reflect their lifestyle. Innovation is also possible with flavours and product lines. Combining fruit and cereal, for example, is an innovation that aims to tap into a new market segment and to distinguish its product lines from that of the competition.
2. Nokia
Nokia has built its formidable market position through innovation strategies that rely on huge investments in R&D. The company has a wide range of phones that appeal to lifestyle choices of different segments, such as the fashionable handset for the young and upwardly mobile, or the inexpensive, reliable and basic model phones for consumers with more practical concerns. The company has gone to significant lengths to innovate on value added services and products. This includes games, multimedia interfaces and innovative functions on phone handsets.
3. Rubbermaid
Rubbermaid operates in the household durable goods sector. It manufactures an extensive range of products including durable household goods, toys, hardware, office products and grooming products, to name a few. Its extensive range of products provides a wider scope for innovation and product development through modification of existing products and introduction of new products through NPD initiatives. The company seems to have adopted a philosophy of customer focused innovation whereby the aim of helping consumers organise their life better and achieve a lifestyle balance is both a key driver in innovation strategy but also a key part of its marketing program.
4. I-Phone
The I-Phone is a major product innovation for the Apple Corporation. The phone handset represents a big step forward for multifunction mobile phone technology and innovations. The touch screen has been a particularly important innovation that has marked the product as a leading technology in the industry. The fashionable look and feel of the phone has also added to its faddish appeal. The phone is also tightly integrated with a vast array of software programs, music and functions. The phone is a major piece of innovation that is designed for internet based communications.
5. Holden VE Commodore
The Holden Commodore VE model is an internationalised model that incorporates luxury features that are popular with the mid range consumers in Australia and in international markets. The car also features new innovations in safety with the engine positioned behind the front axle – a feature that avoids fatalities in earlier models of this car. There are also other safety innovations that have been developed through in house crash testing, such as enhanced child safety features. The fuel efficiency gains of this model also represent incorporations of current technology and new innovations.
6. Nintendo Wii
The wii is a popular gaming console manufactured and developed by Nintendo. The gaming console is a unique innovation in the gaming industry because of the playing mode around wireless controllers. This provides for games and activities that move away from the traditional game concept, such as the strategy and first person games. As well as many of the traditional functions and features of games consoles, such as the ability to hold data and backup files, download programs from the internet etc, the console provides for unique player experiences from the built in accelerators and motion detectors.
7. Hybrid – Prius
The Prius by Toyota is a new product innovation that represents a new generation of cars that are oriented towards the consumer patterns of the future. In response to environmental issues, especially the greenhouse effect and the expected exhaustion of fossil fuels, Toyota has taken a big step in innovating energy consumption. The hybrid car innovation involves combined use of combustable fuel and electric power. Cars can switch between combustion mode and electricity mode enabling the driver to save on fuel costs and to have less impact on the environment.
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