Theory of Innovation and Application Assignment Sample

How Mattel v. MGA Entertainment Exposed Barbie's Dark Side

Table of Contents

Introduction.

Innovational idea in APPLE Inc.

Approach of MATTEL Inc.

Reference.

Introduction to Theory of Innovation and Application

Business environment is dynamic and a company must adapt to the changing environment to create an impact in the society. The theory of innovation is a process where new ideas and opinions are produced to develop a product or service. It could be in the form of improved product or to make changes in the technical specifications.

Innovational Idea in APPLE Inc

Today, we will discuss some of the most successful companies who have achieved a great market share by innovating different products. Let’s talk about APPLE, which has been delivering its customers for 40 years. It has revolutionised its personal computers to mobile phones which has changed the lifestyle of the people. This company has managed to offer new products with an advanced specification every year. If we look into the early 1970s, the company produced a basic computer. It upgraded itself to get hold of the market and to outshine the competitors by launching MACBOOK which is considered to be comparatively thinner (Alnabhan, 2018). If we talk about 2020, it delayed the launch of the new iPhone and increased the production of the iPad. As quoted by the CEO, keeping in mind the current scenario they researched about the market and found out that the demand for iPad has increased due to this pandemic where everything is happening virtually at the comfort of our home. Even the demand for iWatch has increased and Apple has come up with a new feature where the iWatch can measure the heart rate and oxygen level of the human. This is where innovation takes place, leaving behind the planned theories and choosing what is best suited at that particular situation.

Approach of MATTEL Inc

Mattel Inc. is another such company which focused on innovation and fulfilled the corporate social responsibility. The company launched Barbie dolls in various countries and it became successful. But It failed in Arab countries as people believe it hurt the religious sentiments of the people. The company innovated the Barbie doll and the new manufactured barbie dolls were seen wearing a hijab. This helped them to gain their market share and the potential customers. Recently, they dedicated their part in a campaign to stop racism and have started manufacturing brown -skinned Barbie dolls to celebrate that every skin colour is beautiful and colourism should be ended in every country (Strubbe, 2018).

A company which doesn’t upgrade its products according to the market conditions, falls into the trap of marketing myopia and failure of Nokia is one such example. Nokia believed the keypad phones were the best products and it would be loved by the customers in the long run. They overlooked the dynamic market structure and never transformed its products. Change is inevitable and the person who does not accept the changes, leaves behind the scope for innovation.

Reference for Theory of Innovation and Application

Alnabhan, O. (2018) Literature Review Marketing New Products. Apple Inc. Retrieved from https://d1wqtxts1xzle7.cloudfront.net/63186440/Marketing_New_Products._Apple_Inc20200503-23215-1aehit6.pdf?1588551705=&response-content-disposition=inline%3B+filename%3DLiterature_Review_Marketing_New_Products.pdf&Expires=1602602345&Signature=Aoozf2nNT87mJdy2dDHcen-zBZbugNXdXrMa~RZ-kn3CXIPCFUPW9~HPH2O3TniFPBe9lPhHj-zZD~JtoO3e7a8x7Pw3h9Gm6Erxxxn~q1oAuqNF3aI5sj4N059dbpiV5G0TkDWBQwxPcaP5XlDv8jeb1WeZqctXUyWzr1~t-mdAHCTh1r52diq~QdXtXGCEIhsVL-5as1B5vuF4ifJHqyAJMrOKz4K9Oe5CcA0n~fRqkj-ADP~qMtuR~U-nPcUGg-XLHXVtdz2Y0eKPJG7D3pPYAFXUE0dwOzDJ3uOGQ7y5L-wGumwve-gmiKi~hIwxN-O7IR43CAQ9f8vvSUjeMQ__&Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA [Retrieved on 23 September, 2020]

Strubbe, M. R. (2018). You Don't Own Me: How Mattel v. MGA Entertainment Exposed Barbie's Dark Side. Retrieved from https://heinonline.org/HOL/LandingPage?handle=hein.journals/emplrght22&div=8&id=&page= [Retrieved on 14 September, 2020]

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Management Assignment Help

You Might Also Like :

Innovation in the Workplace Assignment Sample

Looking For Complete Assignment Sample Get It On WhatsApp