Unit 3 M1 Analyse Types Of Innovation

1261 Words6 Pages
M1 Analyse types of innovation used by entrepreneurs Product Development – Dyson Ball Market Development – Coke Zero Business Model – Ryan Air Dyson Ball™ canisters are the only canister vacuums with a central steering mechanism. The pivot point is located near the center of the machine, enabling it to make tighter turning circles and follow with greater control. A Dyson Ball™ upright vacuum pivots on the spot for greater manoeuvrability. With a turn of a wrist, it steers smoothly around corners, obstacles and furniture. No wheels. No more awkward moves. Dyson Ball™ canisters are the only canister vacuums with a central steering mechanism. The pivot point is located near the center of the machine, enabling it to make tighter turning…show more content…
The Dyson ball and Coke Zero have both been re invented in order to attract more customers, to put something new into the market and to increase profit. These products have increased revenue for the company as Coke Zero was new and had a new taste different to coca cola and diet coke, Ryan Air allowed their customers to book online 24/7 – even though this is more common now a day’s back when Ryan Air was launched this was something new and allowed customers to book when they want at their own convenience. Because of this new innovation it attracted customers which then overall increased…show more content…
Dyson’s vacuum cleaner had a patent so therefore there are no products at all like this and no company is allowed to design a product that copies this suction innovation whereas Dyson’s hand dryer was an existing product although he just improved the way it worked by making the hand dryer more environmentally friendly and quicker to use. Each innovation was made for a different purpose therefore they are all different technologies and they all do different things. Each product was developed and marketed at different times for example Amazon’s products were first introduced in 1995 and Dyson’s air blade was first introduced in the UK in 2006. Another difference between the Product, Market and business model is that some took longer to make then others, for example Dyson’s vacuum cleaner took 5,127 prototypes to come up with the final product and Amazon went through selling different products such as starting with books then diversifying into other products such as CDs. Some innovations took longer to plan and develop then others; this also means the marketing stage was harder for some products. The cost of each final product is different; Amazon’s products vary on the type and size of the product, Dyson’s vacuum costs £240 and Dyson’s hand dryer cost £670. Each product was introduced through different methods of advertising. Each product was
Open Document