Archive for the ‘Innovation’ Category
Tuesday, January 19th, 2021
In the modern retail landscape, digital is no longer a threat to the in-store shopping experience. In fact, smart retailers have come to see e-commerce as a tool to boost in-store foot traffic. This represents a new phenomenon called ROPO (research online, purchase offline), where consumers start their shopping journeys online but complete them in-store.
This is a strategy used by 82 percent of consumers, according to Retail Customer Experience. Because of this, experts stress how important it is for retailers to have a strong presence in both physical and digital environments. (more…)
Tags: B2C marketing, digital marketing, internet marketing, marketing online, marketing strategy, online marketing, ROPO, showrooming, webrooming
Posted in Business Development, Content Marketing, Innovation, Internet Marketing, Marketing and Branding, Technology | No Comments »
Friday, August 30th, 2019
by Justin Grensing, Esq., MBA
Communication is key to any business, whether it’s a meeting with potential clients on a sales opportunity or coordinating and staying in touch with staff. Distance is becoming less and less of a hindrance to effective and meaningful communication. New technologies introduced over the last two centuries have greatly enhanced our ability to stay connected; from the telegraph to the telephone to internet and video conferencing we can now see and hear people from anywhere in the world in real time. And a recent strategy by a 2020 presidential hopeful is demonstrating the increasing development of the latest iteration of long-distance communication. (more…)
Tags: digital marketing, disruptive innovation, holographic design, Innovation, Technology
Posted in Innovation, Internet Marketing, Marketing and Branding, Technology, Uncategorized | No Comments »
Thursday, June 20th, 2019
by Justin Grensing, Esq., MBA
With an up and down history dating back to the 1960s, the software-as-a-service or SaaS model has become the norm in tech-centered industries over the last couple of decades. With a SaaS model, providers of various applications or data storage capabilities allow end-users to remotely access the application or data. This is in contrast to models many of us were familiar with in the 1990s and 2000s where you would purchase an operating system software and install it via CD on a personal computer, for example.
In an article for Entrepreneur, Thomas Smale writes that the SaaS model has moved further and further toward a subscription model and suggests several subscription model-oriented growth strategies. These aren’t strategies only for very large, enterprise organizations. Even the smallest businesses, or solopreneurs, can leverage the subscription model to build sales. (more…)
Tags: content marketing, marketing strategy, SaaS, software as a service, subscription models
Posted in Business Development, Content Marketing, Innovation, Internet Marketing, Marketing and Branding, Strategy | No Comments »
Monday, May 27th, 2019
Many of us are familiar with the concept of disruptive innovation: a new product or service enters the market and overthrows established competitors by fundamentally changing the paradigm. Common examples include the advent of the automobile, the personal computer, or direct streaming services. But, do we really need to be disruptively innovative? (more…)
Tags: blue ocean strategy, disruptive innovation, Innovation, market disruption, nondisruptive innovation
Posted in Business Development, Innovation, Marketing and Branding | No Comments »
Thursday, April 4th, 2019
by Justin Grensing, Esq., MBA
Amazon has proven time and again to be particularly adept at figuring out what its customers want and giving it to them. Whether it’s shopping suggestions based on previous orders, on-demand media content or same-day delivery, the retail giant answers the demands of the people whose purchases are lining its pockets.
The latest example of this as-you-wish mentality was recently announced and reported in an article for CNN by Taylor Nicole Rogers titled “Amazon’s new waste-reduction strategy: Delivery only once a week.” (more…)
Tags: Amazon, Customer Service, delivery, market shifts, marketing research, one-day delivery
Posted in Customer Service, Innovation, Marketing and Branding | No Comments »
Monday, September 24th, 2018
by Justin Grensing, Esq., MBA
Disruptive innovation refers to new advances within an industry that fundamentally reshape or even completely replace an industry. Consider, for example, the impact of the personal computer on the typewriter industry, or the impact of the automobile on the horse-drawn carriage industry. Disruptive innovation is a boon to consumers and society in general, because new products, new services and new ways of serving customers add value to individuals and the economy as a whole. At the same time, disruptive innovation can be devastating to companies that are too slow to recognize the impending impact of disruptive innovation or too slow to react once they have recognized that potential impact.
In a post for Vertafore, Ben Deda, VP of Marketing, lists several examples of companies that failed to adapt to disruptive innovation. You’ve likely heard of them: (more…)
Tags: Blockbuster, business challenge, disruptive innovation, entrepreneurship, Kodak, Myspace, outpacing the competition, staying competitive, threats of new market entrants, Xerox
Posted in Business Development, Innovation, Small Business Strategy | No Comments »
Tuesday, June 19th, 2018
by Justin Grensing, Esq., MBA
We keep hearing about how the growth in online retail represents the ultimate demise of the brick-and-mortar retail store. We hear how online retail giants like Amazon are killing Main Streets across the country, and we hear anecdotes of local brick-and-mortar businesses closing their doors, blaming the rise in online retail. But does that common sentiment assign blame where it belongs? (more…)
Tags: brick and mortar, consumer experience, experiential marketing, online shopping, retail experience, retail store closings, showrooming, the death of retail, webrooming
Posted in Business Development, Innovation, Internet Marketing, Marketing and Branding, Small Business Strategy | No Comments »
Thursday, May 31st, 2018
by Justin Grensing, Esq., MBA
The business world has a strong mythology around, and reverence for, the innovator – brilliant geniuses who upend the status quo and usher in a wave of change, making fortunes along the way. We often think that the first company to go down an innovative path is in an enviable position. But, in many cases, it is not the first mover who prospers, but the fast follower. (more…)
Tags: being innovative, business advantage, business model, fast follower, first mover, first mover advantage, innovators
Posted in Business Development, Innovation, Strategy | No Comments »
Thursday, June 1st, 2017
Whether you’re a startup looking to break into an existing market, or an existing business looking to branch into a new product or service line, it can be intimidating to survey the competitive environment and find yourself potentially face-to-face with behemoth multinational corporations and Fortune 500 companies. While a mega-competitor could, theoretically, direct its massive resources into forcing out an upstart competitor, there are some ways to compete by exploiting the advantages small can have over large. (more…)
Tags: business agility, coming with large companies, competition, finding a niche, small firm advantage, the personal touch
Posted in Business Development, Competition, Innovation | No Comments »
Tuesday, October 4th, 2016
What’s more important: a great idea or great execution? There’s certainly an argument to be made for the importance of ideas for entrepreneurs, and it’s easy to point to famous examples of huge fortunes and successful businesses that sprung from a great idea — Facebook, the automobile, the PC, etc.; but the idea is just the beginning. (more…)
Tags: achieving business results, executing your plan, execution, putting plans into action, Strategic Planning, Strategy
Posted in Business Development, Innovation, Strategic Planning, Strategy | No Comments »
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