Value Creation for Products and Services

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The goal of marketing managers is to study market facts, industry tendencies, and consumption behaviors so that organizations can produce goods and services that create real value for consumers. Research any of the following innovation sectors:

Aerospace, aircraft, and drones
Games, apps, and social media
Green technology
Biotechnology, drugs, and genetics
Nanotechnology
In your response, address the following:

Share at least one market trend that can drive the future creation of products and services in that field.
Suggest one product or service that can deliver value for the anticipated trend. Define the type of product or service.
Describe how an organization can create value for consumers using that specific trend.
You can find information utilizing the Plunkett, go to the DeVry Library and locate and click the “Database” menu. Look for the database tab (you must access the Library from inside the Canvas Classroom); and access the Plunkett Database using the alphabetical tool. Once in the report, choose only one innovative market sector, and access the “Market Research and Trends” Report. Use page one of this report to complete this activity.

 

Sample Solution

Value creation is the core target for any business entity. Creating value for customers helps sell products and services, while creating value for shareholders, in the form of increases in stock price, insures the future availability of investment capital to fund operations. From a financial perspective, value is said to be created when a business earns revenue (or a return on capital) that exceeds expenses (or the cost of capital). But some analysts insist on a broader definition of “value creation” that can be considered separate from traditional financial measures. “Traditional methods of assessing organizational performance are no longer adequate in today’s economy,” according to ValueBasedManagement.net.

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Exhibition is a way to pay attribute to good design works, the Victoria and Albert Museum was first opened in the nineteenth century, exhibiting outstanding designs to the general public, with a view to improve standard taste of design in Britain . Yet, there are potential risks that the imitator could take advantages from the exposure of designs. A design copier may incorporate the design ideas that he picked up in the exhibition, more importantly, under the current legal regime, the original designer’s right to acquire a registered designs in the EU may be jeopardised. Although the 12 months of “grace period” will then be triggered, the original designer will be prevented from registering a design, once the copyist releases the rival product in the EU market. At least, even if the copyist had registered the rival products he produced, it will hardly be recognised as a valid registered design. The only person or party that entitled to register for a design is the original designer himself, given that he was not commissioned and paid for the design work , or working under an employment contract. Otherwise the commissioner or the company thereby is able to register for the design. According to the rule set out in Woodhouse UK v Architectural Lighting , when deciding the validity of a registered design right, the mental elements should not be taken into account, even though the person genuinely have no knowledge about the original design, his registration can not be valid. Therefore, the registered design of the copyist cannot be valid; he has no entitlement to all the protection conferred by the registered design right, which should instead be enjoyed by the original designer.

Public display is not the only challenge that UK designers are encountering. In the digital world, the pioneer technologies like 3D printing skills have further threatened designs being counterfeited

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