Business Strategy

The following essay or dissertation on the topic of business strategy has been submitted by a student so that it may help you with your research work and dissertation help.

You are only allowed to use the essays published on these platforms for research purpose, and you should not reproduce the work. It will be caught in Plagiarism.

02032897770

Call Us Now

enquiry@dissertationhomework.com

Email Us Today

100%

Safe & Confidential

Print Download Reference This Reddit This

Research Proposal on influence of innovation of product on the customer buying behaviour

Introduction:

Overview:

Innovation now days have become major source for creating the distinctive identity of the organization. Particularly in the case of intense competition within any industry there is huge requirement of ensuring that the innovation must be the part of company’s strategies so that the customers could be attracted and the situation of intense competition could be handled. Further it is also clear that the product and services are one of the major components of marketing mix that could be undertake into the transformation process and lots of innovation could be imparted through R&D departments experts (Brown and KaÌ, 2009). With the help of product innovation the buying behavior of customers could be influenced in positive manner and most importantly the purchase decision making process could go in favor of company. In case of mobile industry the level of product innovation has been seen significantly. In recent the mobile industry has shown immense level of changes into the product features and there are lots of aspects that have been developed with respect to alluring the customers. HTC is pioneer in the field of mobile industry and they have imparted the innovation at very large scale (Money super market.com, 2015). This work mainly concentrates on how the innovation in product has a huge impact on the customer buying behavior. The product under focus for this thesis is the mobile phone. HTC is one among the top mobile phone companies in UK, which are taken up for as the case study.

Aims and objectives of the study:

Aim of the research

The main aim of the research is evaluating the influence of innovation of product on the customer buying behaviour.

Objectives of the research

  • To evaluate the importance of product innovation in mobile industry
  • To critically analyze the link between product innovation and consumer buying decision.
  • To make recommendations on how product innovation can be used a tool to influence consumer buying behaviour.

Research questions of the research:

  • What is the importance of innovation in mobile industry?
  • How consumer buying behavior and product innovation is related to each another?

Significance of the study:

The major significance of study is related to gaining the intellect about various techniques for product innovation and its impact on customer’s perception. Further the significant aspects is related to fact that how mobile manufacturing organization can influence buying behavior positively through product innovation.

Literature review:

Before analyzing the secondary source to get deep knowledge about various terminologies there is need of gaining the understanding about the product innovation. In very simple terms the product innovation represents the improvement within the existing product or introducing the new product range that has advanced and amazing features. It means something which is beyond the expectations and near to excellence within the product perfectly defines the product innovation. There are various regions that why companies are following the factors related to product innovation. Some major components are huge potential in the market, nature of product and intense competition (Rafinejad, 2007).

The mobile market is growing very immensely. In recent past the economic status of people has improved at very large scale and the people have started to buy mobiles very frequently. Further there are still lots of people who are still untouched with mobiles or better mobiles in reasonable so companies are definitely focusing of introducing new features into the mobile so that various categories of people could be attracted easily. Ahead another factor is related to the nature of product. It is to acknowledge that the nature of mobile phone is very favorable towards generating the high sales ratio (Trott, 2008). It is clear that revolution in mobile industry has brought down huge revolution within the communication and further the networking and connectivity has also improved. Thus the mobile phones have become necessity for the companies and it is just enabling mobile manufacturers to focus on product innovation. At last the most significant and influencing factor towards the product innovation is the availability of intense competition. The fundamental porter’s five forces model suggest that when any industry has huge rivalry ratios then the bargaining power of customers increases and they can switch to any other brand very easily. Thus product is required for the purpose of retaining the customers. Therefore these are certain features which promote the product innovation within the mobile industry (Brown and Kai, 2009).

Innovation in product plays an important part in influencing the buying intentions of the customer as per the view of Rafinejad (2007). The major importance of product innovation is that buyer behavior could be molded in positive manner. Further with the help of product innovation it is clear that brand value could be increased immensely and customer loyalty could be developed automatically (Rafinejad, 2007). Here at the same juncture the example of Apple could be taken. The Apple is most innovative company in history and the major advantage which they have availed is that customer waits for their product to be launched and customer loyalty is at pinnacle for company’s products. This is one of the benefits that could by other mobile manufacturing companies. Further the product innovation is helpful in retaining the customers and returning full value for their investment. Thus this factor is helpful on the ground of both customer loyalty and retention. Ahead the expectations of customers have been increased tremendously and they wait for such features which are amazing and stunning. The mobile phones have become the identity of people and they are mostly recognized by the mobiles which they are carrying. Thus it put psychological impacts as well (Goessl, 2010). Thus more the product is innovative it is easier to achieve the organizational goal related to maximum customer acquisition.

On the basis of above discussion it could be sated that there is positive link between product innovation and consumer buying behavior. But the management experts have given their views about the fact that what kind of innovation has been introduced within the product? Actually it is one of the major factors which influenced people to buy product. According to Vieceli And Valos, (2000) there are various mobiles available in the market which are innovative but how many mobiles actually designed as per the usage of customers. Thus it is one of the major factors which are required to be assessed properly (Vieceli And Valos, 2000). It is clear that the mobile might have lots of innovations but designing the cell phones as per the utility of product can definitely increase the willingness of customers. Here the law of economy comes into existence that willingness and utility both work together while taking the positive purchase decision. Hence the product innovation is positively associated to customer buying behavior if the expectations of customers are the base of product development phases. But other than this the mindset and the category of customers could also needed to be assessed effectively. Overall the linkage is possible but other marketing elements also work simultaneously (D'Esopo and Almquist, 2007).

This essay is an example of a student's work

Disclaimer

This essay has been submitted to us by a student in order to help you with your studies. This is not an example of the work written by our professional essay writers.

Research Methodology:

This section has huge importance on the ground of providing the overview about the thought process of researcher towards the content. The possible selected research trajectories in current scenarios have been explained below:

Research philosophy: this study is quiet interpretive in nature where the psychological aspects of customers is required to be identified. The positivism research philosophy is completely unsuitable in current perspective as the consumer can never behave in same way in all the situations. Thus in order to measure the difference in their behavioral set in diverse conditions there is huge requirement of applying the interpretive research philosophy that provides the opportunity to understand the subject matter from various dimensions (Hjørland, 2005). Research approach: Here in this study the deductive research approach will be applied as the situation is based on the already propounded theories and opinions of common people. There is no need of applying the inductive approach as the researcher doesn’t have any intentions to focus on giving the new theory. Deductive approach can help in identifying the impact of product innovation on consumer buying behavior in proper way. Thus deductive approach will be suitable in current scenario (Muijis, 2010).

Research design: This report is exploratory in nature. There is need of gaining the detailed knowledge about the subject matter. The scope is very wide so exploratory research design can facilitate the researcher to dig out content more effectively. Ahead the product innovation and consumer buying behavior related aspects could be understandable in proper manner. To establish relationship the researcher will try to focus on variety of factors and exploratory study will definitely helps on the ground of increasing the intellect about content (Hoy, 2009).

Research nature: In order to put shed more light on the research nature there is need of understanding the subject matter at very large scale. Here in this perspective the nature of study is qualitative as the information of data is completely subjective in nature. There is no usage of numerical information and most importantly the lengthy information will be included within the study. The nature of the study is not quantitative as the study is highly inclined towards the subject information and it has relevancy with measuring the mindset and behavior of people which can never be measured in terms of numbers. Thus qualitative nature of study is highly effective (Flick, 2009). Sampling: Probabilistic sampling technique will be taken into special consideration. Here the researcher will definitely gather the information from those people who took their mobile phones seriously and understand the changing technology within their mobiles. The respondent’s can give their opinions freely and express their views with respect to product innovation. The researcher will gather the information from 50 customers and will try to identify the relevancy of their purchasing decision with the product innovation. It includes the direct consumers of HTC and other people who ever experienced the products of other companies (Merriam, 2009).

Data collection method: The information will be gathering from two major sources. One is from primary sources and the extensive usage of secondary sources will also prioritized by the researcher. Here the secondary source of data collection is online articles and published books as well as the previous resources and various magazines so that the level of technological innovation within the mobile industry could be identified. Ahead the primary sources of data collection will be questionnaire technique (Flick, 2009). The questionnaire will consist of various aspects related to the product innovation and psychological understanding of customers. The questionnaire will be filled through face to face interaction and with the help of Google docs. The executives will be preferred through e mailing system and the data collection form young age people will be done through face to face questionnaire filling process (Muijis, 2010). It could provide more relevant and useful piece of information and the mindset of people could also understandable.

This essay is an example of a student's work

Disclaimer

This essay has been submitted to us by a student in order to help you with your studies. This is not an example of the work written by our professional essay writers.

Data analysis: It is another priority factor which will be taken into special consideration by the researcher. While selecting the appropriate research data analysis technique the researcher needs to focus on variety of factors. The first thing is the nature of study and information that is going to be used within the report. Here as mentioned above that the research nature is qualitative and information type is subjective so the researcher needs to rely upon thematic analysis. It will be most suitable and reliable technique in current scenario. Through thematic analysis various relevant themes could be constructed and the relevant research outcomes could be provided (Hoy, 2009). Accessibility issues: The major accessibility issue could be related to approaching the people for data collection process. But this issue will be managed through applying the professional approach of conducting the research.

Ethical considerations: The major ethical issues which are relevant to the study are plagiarism and manipulation of data and information. These two aspects are considered to be highly unethical and illegal with the perspective of research report. Here in this study it will be taken care of that all the data must be presented in its original format and opinions or results will never be distorted for providing the wrong results (Merriam, 2009). Further the issue of plagiarism has also avoided into the study. It is very essential that the content should be written in own language and evidence of stealing should not be observed so this aspects will also gain huge priority. Reliability and validity of the report: To maintain the reliability of study the whole lot of considerations will be paid to the applying the appropriate research analysis technique. It is essential to understand that the reliability of study is complete based upon its results and outcomes. Thus in order to interpret the information in effective manner the thematic analysis will be applied so that the quality of research outcomes could be maintained. Further the adherence towards the ethical considerations also enable a researcher to ensure the authenticity and genuineness of study and it result it lead towards the high level of reliability and validity of study. At last the role of sampling is also significant in ensuring the reliability of current report. The respondents will be selected in painstaking manner and questionnaire contains the questions that has relevancy with the subject matter (Hjørland, 2005). Thus the researcher will provide adequate amount of attention towards this element of research process.

This essay is an example of a student's work

Disclaimer

This essay has been submitted to us by a student in order to help you with your studies. This is not an example of the work written by our professional essay writers.

Gantt chart:


This essay is an example of a student's work

Disclaimer

This essay has been submitted to us by a student in order to help you with your studies. This is not an example of the work written by our professional essay writers.

References

Brown, T. and Kātz, B. (2009). Change by design. New York: Harper Business.

D'Esopo, M. and Almquist, E., (2007). An approach to mastering the marketing mix. Business Strategy Series. 8 (2). pp.122 – 131.

Flick, U., (2009). An Introduction to Qualitative Research. 4th ed. SAGE.

Goessl, L., (2010). Understanding the Importance of Consumer Behavior in Marketing. [Online]. Available through: < http://www.insidebusiness360.com/index.php/understanding-the-importance-of-consumer-behavior-in-marketing-12326/>. [Accessed on 9th May 2015].

Hjørland, B., (2005). Empiricism, rationalism and positivism in library and information science. Journal of Documentation. 61(1). pp.130 – 155.

Hoy, K.W., (2009). Quantitative Research in Education: A Primer. SAGE.

Merriam, B.S., (2009). Qualitative Research: A Guide to Design and Implementation. 3rd ed. John Wiley & Sons.

Moneysupermarket.com, (2015). Mobile Phones - Compare The Best Mobile Phone Deals. [online] Available at: http://www.moneysupermarket.com/mobile-phones/ [Accessed 5 May 2015].

Muijis, D., (2010). Doing Quantitative Research in Education with SPSS. SAGE.

Rafinejad, D. (2007). Innovation, product development and commercialization. Ft. Lauderdale, FL: J. Ross Pub.

Trott, P. (2008). Innovation management and new product development. Harlow, England: Financial Times/Prentice Hall.

Vieceli, J. And Valos, M., (2000). Marketing Management. Atlantic Publishers & Distri.

Print Download Reference This Reddit This
Take the leap of faith and invest in your future

ORDER YOUR DISSERTATION HELP TODAY