Case Study Report
PRODUCT & SERVICES INNOVATIONS
Q1. Use the Cyclic Innovation Model (Fig 1.9, pg 30) figure to illustrate the innovation process in this case and provide a brief description?
Answer –The Cyclic Innovation Model (CIM) is a model of innovation process which a company adopts to introduce new products which are backed by innovation and services offered by an old product. Innovation by definition is the successful implementation and launch of new products and services by an organization. As shown in the figure below, CIM model stands on 4 pillars - Scientific research, Technological development, Product creation and Market transition. Taking example from the case study of Apple Inc. the company launched…show more content… Answer – Over the years, Apple has launched very great innovative products in the music, computers, notebooks and the smartphone segments. They have embellished the global industries with their gadgets which are beyond the thoughts of common man. They have extensively used the most advanced technologies which are still a theory for other competitors. They have emerged as a leader with the iPhone tapping the world smartphone market. Their innovation and technology is not limited to the device but have extended in customer experience as well. Apple has to maintain this high standard in technology and race against time on researching and developing the concepts and materialize them into their gadgets. They have to focus on creating cutting edge products which can rule the market. Apple has to constantly innovate keeping the business model intact and accept the challenges of the market and deliver quality products and services. Their research team should be on their feet to take quick and positive decisions and work on the new complex technologies and still improve customer experience by making the interface user friendly.
The sudden shift from multiple devices to single handheld device was a challenge for the industry. But Apple through its innovation and research capabilities developed the iPhone which has all features one needs in a day-to-day life.