What It Takes To Be A Great Product Innovation Manager Mktg 1311 Assignment 1

4504 words - 19 pages

Abstract
The purpose of this report is to find out what it takes to be a great product innovation manager. New technologies and social media are two main driving forces impact changing marketing. The importance of innovation landscape was mentioned. Ten product development/product innovation manager related job advertisements was summarized and key factors in recruitment such as strategic thinking, problem solving, storytelling and so on are pointed out. The implications of this report is to give educators a direction for seeking to create top product innovators.

Table of content

Abstract 1
1.0 Trend analysis 3
1.1Changing marketing 3
1.2 Innovation landscape 3
1.3 Implication of recruitment 4
2.0 Advertisement analysis 4
3.0 Trend of skills and capabilities 7
4.0 Implications for educator 8
Reference lists 9
Appendix 10

1.0 Trend analysis
1.1Changing marketing
In today's world, change is an inevitable reality. All businesses are working in a changing environment. However, not all changing are significant. Some are limited to specific industries, some industries more broader, more functional in nature. According to McKinsey & Company (2017), John D. Louth in the 1966 McKinsey Quarterly claims that there are six whose effects will be felt by almost every business: The dominance of the customer, The spread of marketing research, The rise of the computer, Expanded use of test marketing, Metamorphosis of field selling, Global market planning.
When it comes to 21th century, the marketing changing have a new direction.The large office spaces will be take placed by the small workplaces just on the tip of your fingers; Transparency will become integral in the customer based relationship; User generated content create extra benefits;Social networking will become the integral market trend. (Cinikmedia.com, 2017). New technologies and social media make the market more and more digital. Compared to traditional marketing, the digital marketing become the new normal.
If companies want to be a part of changing marketing, they need to seek the changing pattern. Understanding the target market, the new technologies, consumer behavior and so on, and get used to the new normal.
1.2 Innovation landscape
The aim of marketing innovation is providing value to customer and improve their competitive advantage. Innovation also means utilize new technologies and exploiting out-of-the-box thinking to create new value and bring about significantly social changes. It can be defined as using new ideas to create new products, services, or processes.
Why the innovation important
Research has confirmed that all businesses want to be more innovative. A survey identified that nearly 90% companies believe that innovation is their primary task. The conclusion is that the importance of innovation is increased and has increasing significantly.
In the current economic situation, innovation has become an...

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