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Innovative Means the creation of something new to get a result different and be able to contribute value to what exists in order to provide another focus. The innovation It is a fundamental tool to be able to survive in the known market conditions. Several trademark They presented their innovation strategies which have shown successful results. On the other hand, other brands like it Pepsi they met great Obstacles Along the way.
It should be noted that brands need today innovate To survive. According to research by the global consulting company specializes in strategy, marketing, pricing and sales, Simon-Kucher Partner notes that 90 percent of companies say pricing pressures are increasing, and 75 percent of companies say product innovation is the best course of action to counter the effects of that pressure.
That said gardener reports that 83 percent of a brand’s budget is spent marketing used in the process of innovation of product or service it offers.
Although in reality it is not as easy as it seems to land that investment in Projects profitable or be seen as authentic innovation.
According to data from TNS It is said that brands as “innovationIn their offer, only 15 percent correspond to suggestions that correspond to this concept, 82 percent state this Extensions and 3 percent too Restart.
With the above numbers we can understand that a lot of brands are in the lately Exploration and experimenting with Routesthat can lie outside their usual field of action. Such is the case with Pepsi, a company that took over the company a few years ago decision of invest to the Raid at the sector of Telephony and TU present by surprised to business as Motorola, Samsung or Huawei.
The abundance of smartphones
At the 2015When that excitement and boom was generated for smartphones, the proposal hit the market while brands like Xiaomi or Huawei began to grow, it seemed so Pepsi had found a new space to develop and brought to light his new project called Pepsi phone or Pepsi P1Swho operated under the system Android, whose existence consisted of two series, the P1 and the P1S.
Image: Pepsi P1S
At that time it was Start of Pepsi It offered something very similar to the typical design of cell phones made from aluminum material. the external appearance is similar to that of its competitors, who offered the screen of 5.5 inches and Full HD resolution with a MediaTek processor. Also the 13-megapixel camera with double LED flash and 5-megapixel front panel.
As we have described, nothing else or extraordinary than the proposals of the Companies with more Experience and affinity at the sector of Cellphone. What was the real attraction with that Pepsi had the purpose of conquer to the user at the marketIt was the logo of the brand on the back of the smart device.
Image: Pepsi Telephone P1
The purpose of the brand was to “innovate” by exploring another sector that did not stick to its scope
The goal was too clear to understand Companies Bet on the user to give “A new signature for interacting with the company logo”, which until then could only be seen on beverage cans, T-shirts and backpacks, which had become the target of many collectors and fans over the years.
To tell the truth, it didn’t work Pepsi It is considered a cult brand.
With the introduction of this product Pepsi suggested crowdfunding to generate more of his – unusual – Smartphones, at the Chinese origin e-commerce JD.com, where so far after Five years after the offer, the goal was not achieved.
Nor was the price of the product attractive enough to convince consumers that it consisted of less than 100 dollars. The strategy of Pepsi it didn’t work and is remembered as a bug. You just got on Selling a thousand models of P1.
What was that learning?
Always one brand want innovate You need to be very aware of how it is perceived by its users, what is your turn, and understand if you really have the experience needed to explore a new sector that you are not so familiar with. If it is not possible to meet any of the above conditions, you need to reconsider your goal. When you think of innovation, you have to think beyond brand power. because although it dominates in one sector, that does not mean that it can be successful in another sector because its consumers perceive it in a certain way different. This is because innovations in the market are not guaranteed if they are signed by the ‘x’ brand.
The most important is generate this demand in the middle of the market segmentsso that it can be satisfied in other ways, but with a high degree of saturation.
Obviously, It’s not an easy challenge, but great success stories have been seen inspiring people to use asymmetrical marketing strategies. That is an important point to be able to innovate at the the current market. The Risks constant with potential is what it takes today to come true Business areas.
Learn more: Pepsi presents a new relaxing drink