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Scenario for the case study:
In the case study, it has been found that Office Genii, the office supplier and furniture manufacturer has been facing certain challenges in operating in the market because the market is saturated with a number of giant competitors. The company has planned to come up with certain ergonomic products but similar products are also available. It is for the same reason, an innovative solution has been proposed.
By successful discussion on the meetings held for this purpose, it was finally decided that a sofa or couch would be designed that shall have the facilities of a small refrigerator at its back. In addition to this, there would be charging points and a small speaker as well where the phone can be connected that can act as a mike that can be used for communicating with others. Customers will be benefitted as they do not have to move from one place to the other and they can get the necessary things available at their hand.
The features and characteristics of the innovative product are:
The innovative product suggested is a portable sofa, with various facilities available in it. It shall have the equipment attached to it. The sofas shall be available for two sitters and four sitters. The product can be named as “All in one Sofa”. Manufacturing of the product requires both the manufacturing and technological support. The product can be available in many colors like black, red, brown etc. The weight could range between 15-20 kg. Manufacturing of the product is technically feasible because all it requires is to fit the various objects into the sofa. Therefore, this manufacturing company can easily manufacture this product as well.
2. Further research on innovative idea:
As it has been proposed that the innovative idea is not based on the innovative technique but it should also focus on sustainability. It should be kept in mind that the Company operates in Australia where people are educated and they understand the value of sustainability in the recent environmental situation. Therefore, if they are informed that Office Genii provides such products which are not only technologically innovative but are sustainable as well, the acceptability of the product can be increased among the consumers. This is a unique way of fighting the intense competition in the market and providing better options to the consumers as well.
3. 5 Whys technique
The major reason behind the degrading situation of the company is the increasing competitors in the market and the technologically advanced products that they have been using in their products. As a result of this, small and medium sized companies are suffering as they are unable to compete with these giants. However, the power of innovation cannot be neglected. It can be said that if an innovative product is launched in the market that is helpful for the consumers, it shall be acceptable among them. Therefore, the innovative approach that has been proposed has great chances of its success in the market.
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