Essays on Managing Innovation Case Study

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Research program19Communications mix19Growth strategy19Milestones –Key Performance Indicators20Risk analysis20Types of risks20Limitations and exclusions of report21Conclusion21References22Introduction to the reportIt is an apparent fact that advertisement plays a central role in promoting any given company. Nonetheless, the ultimate choice of the channel of advertisement is integral in ensuring that the message is effectively and efficiently disseminated to the desired audience which is central in the company gaining both short-term and long-term competitive advantage in the market. The social media, for instance, Facebook has evolved into becoming a paramount platform for advertisement. This fact is supported by Mabry (2010, p.

3) who revealed that in 2009, advertisers used a cumulative total of $2 billion in the social media advertisement and this figure is projected to grow upto $3.5 billion by 2013. The current innovation of Facebook live and Facebook video is an ideal epitome of this undertaking. Towards this end, this will require intensive collaboration between the project innovator, Facebook, sponsors and the eventual advertisers. Nonetheless, it is imperative to be cognizant of the fact that there are other competitors towards the instigation of this venture, not forgetting some inherent risks. In addition, this venture is endowed with extensive complexity of its rudimentary undertakings as a result of the corporate interaction between the stakeholders aforementioned above.

However, it is projected in this report that this venture will experience gradual growth and expansion based on several factors which will be explored in a subsequent section. Moreover, the key performance indicators (KPIs) of this venture will be analyzed in a latter section. Against this backdrop, this paper is a profound effort to explore the business opportunities of this innovative venture as well as performing a comprehensive competitive analysis.

In addition, the consumer value, the product, operations, marketing, communication mix, growth strategy, milestones, risk analysis and types of risks will all be analyzed in this report. A day in life; Consumer needs in contextThe dynamics in consumer demands has seen a gradual paradigm shift from the traditional models of advertising, most predominantly in the print media towards more extensive and encompassing, technology oriented channels of advertising, for instance, the use of the internet. This is best exemplified in Canada whereby Schein, et.

al (2010, p. 4) noted that Statistics Canada have cited that not only is an heightened percentage of the population utilizing the internet in their daily lives at home as epitomized by internet and social media usage trends but this people are getting involved in a more wider array of online undertakings. Thus, the general elevated usage of the internet reveals an increased preference of the consumers to be in the capacity of viewing the advertisements of various goods and services at the comfort of their home as opposed to being obliged to purchase periodic publications entailing advertisement of products from the print media. Therefore, the instigation of Facebook live and Facebook video will be a fundamental step towards satisfying this need among the consumers.

In addition, it is worth noting that whereas the social media was initially perceived as being primarily utilized by the adolescents and young adults, recent trends have seen members of more advanced age cohorts embrace this channel of communication, networking and advertisement. This change of consumer demand will thus play a great role towards the popularization of Facebook live and Facebook video.

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