Innovating is not that Difficult: Try to Do it this Way

PRODUCT INNOVATIONS

The study ‘Why grow the gazelles?’, Foundation Cotec, develops all the option that companies have to innovate. The first refers to product innovation: “It is the introduction into the market of new or significantly improved goods or services with respect to basic characteristics, technical specifications, embedded software or other intangible components, desired purposes or benefits.” It does not take into account changes of a purely aesthetic nature or the sale of innovations produced by other companies Innovation, understood as a novelty or improvement, must be for the company, but not necessarily for the sector or market.

Product innovations can be supported by new knowledge or technologies, but also by new ways of using and combining existing knowledge and technologies. It is normally considered that the possible improvements are significant when there are changes in the materials, components or other characteristics that confer a better performance to the products. Likewise, they clarify that the term product must be understood in a broad sense, meaning integration of both tangible products and intangible services, including design modifications as long as their modification implies a significant improvement in the functional characteristics of the product and is not a mere update.

PROCESS INNOVATIONS

The definition they accept here is: “the implementation of production processes, distribution methods or support activities for their goods and services that are new or provide a significant improvement”. Process innovations can be oriented both to the reduction of manufacturing or distribution costs, and to improving the quality of the products. An example of this type could be the incorporation of new machinery, the introduction of traceability systems or the automation and automation of processes.

Process innovations may be of a different nature, but there are three main types: support activities for their processes, such as maintenance systems or computer operations, purchase or accounting; Logistics systems or new or improved delivery or distribution methods and methods of manufacturing or production of new or significantly improved goods or services.

COMMERCIAL INNOVATIONS

Commercial innovations are defined as “the implementation of new strategies or commercial concepts that differ significantly from the previous ones and that have not been used before. It must suppose a significant change in the design or packaging of the product, in the positioning of the same, as well as in its promotion and price “. Seasonal, regular and other similar changes in marketing methods are out.

This type of innovation seeks to better meet the needs of customers, open new markets or improve the positioning of the product in the target markets of the company. They must be substantial modifications in relation to the way in which marketing and marketing tasks were carried out previously. They include changes in the packaging and design that do not modify the functionality of the product, changes in appearance, design and format of the products, the creation of new marketing channels, etc. However, this type of innovation offers percentages far lower than those found in product and process innovations.

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