In
one area of the Household and Personal Products Industry where there is
opportunity for innovation is in understanding and developing the type of
relationship buyers has with a brand. This includes the ways used to attract
costumers. For example, Lancôme has a particular relationship with costumers in
comparison with it main competitors such as Avon, Estee Lauder and Clinique.
Lancôme relationship with costumers is based on exploration and
experimentation. This means that this relationship makes women to discover
their selves with creativity making them put aside the ordinary elements and
have adventure in their lives. Lancôme products make women want to explore
their self-identity with originality.
This
video is an example of a Lancôme advertisement based on exploration and
creativity calling the attention of women.
In another area of the Household and Personal Products Industry where
there is opportunity for innovation is in the large-scale application of digital technology and
advanced analytics across every aspect of a company operations and activities.
In a
third area of the Household and Personal Products Industry where there is
opportunity for innovation is in the marketplace. It consists in expanding to
new markets. “Marketplace Innovation is all about developing new ways to reach and
delight the customer in engaging new ways.” This can include everything
from reaching new costumers to developing new methods of operation. “By coming
up with unique modifications for products, services, and delivery methods, its
aim is to have a positive impact on people’s lives.” Most of the key players of
this industry have began to expand to new markets. Expansions have been
beneficial for the key players in capturing the market. Although companies in this industry are
already doing this. There are going to be more opportunities for them to
continue to do this and to modify their operations to success and increase costumers.
No comments:
Post a Comment