The 7 Pillars Of Innovation: The Work In T ✓ Solved

The 7 Pillars Of Innovationinnovation 7 Pillarsthe Work In This Sect

The 7 Pillars Of Innovationinnovation 7 Pillarsthe Work In This Sect

The assignment involves identifying two lucrative segments for a branded entertainment method (BPS) in the specified total entertainment market (TEM), describing each segment with details on lifestyle, attitudes, interests, opinions, and behaviors. For each segment, create a clear and concise name (using 1-7 words), then develop a persona or archetype, including a photo, name, life description, and brand preferences that reflect priorities and behaviors.

Next, produce perceptual maps for each segment with at least five competitors, considering how each competitor is viewed differently from each segment's perspective. Then, evaluate three competitors plus your current BPS on five key characteristics most relevant to each segment, scoring each on a 1-5 scale, and justifying the selections. Based on this analysis, identify two innovative adaptations or local enhancements to your BPS that improve its positioning or unique selling proposition (USP), keeping the segment's needs in mind. Finally, describe these innovations and their benefits, demonstrating how they modify the means-end chain; include visuals or rough sketches if needed.

Sample Paper For Above instruction

Introduction

In the dynamic landscape of entertainment marketing, understanding targeted consumer segments and innovating to meet their needs is essential for differentiation and success. This paper explores two lucrative segments within the total entertainment market—specifically tailored for a multi-functional entertainment venue like iPic Theater in Shanghai—and proposes innovative adaptations to enhance market positioning. The approach involves comprehensive segmentation, persona development, perceptual mapping, competitive evaluation, and innovation strategies, all grounded in marketing theory and consumer behavior insights.

Segment 1: The "Time-Constrained Relaxers"

Segment Description

This segment comprises busy white-collar professionals residing in or near Shanghai’s city center, characterized by high work demands and limited leisure time. They seek quick, comprehensive relaxation experiences that combine entertainment and social interaction. Their interests include efficient leisure, premium wine experiences, and social engagement within a relaxed yet upscale environment. They prefer venues within convenient proximity to their workplaces or residences to maximize limited free time.

Persona 1: Helen, The Busy Executive

Helen is a 38-year-old corporate executive working long hours in Shanghai’s financial district. She values efficiency and quality in her leisure activities. She often combines work-related socializing with relaxation at upscale venues. She prefers premium brands such as Louis Roederer champagne, Apple products, and luxury fashion brands like Gucci. Her purchase behavior favors convenience, quality, and status.

Perceptual Map

[Insert perceptual map visualization here, comparing iPic Theater with competitors such as VIP cinema, rooftop bars, luxury restaurants, other entertainment venues, and streaming services]

Competitive Evaluation

Based on five key characteristics: Comfort, Variety, Innovation, Accessibility, and Ambiance, each competitor is scored from 1 to 5. The current BPS scores high on Comfort and Ambiance but lower on Innovation and Accessibility compared to newer venues offering integrated experiences. The gaps identify opportunities for innovation.

Proposed Innovations

1. Implementing a personalized seating and service system that adapts to individual preferences, increasing comfort and personalization.

2. Introducing exclusive ‘quick escape’ packages that combine entertainment with premium dining options, reducing time barriers and elevating convenience.

Segment 2: The "Modern Tourist Explorers"

Segment Description

This segment includes international and domestic tourists attracted to Shanghai’s modernity and cultural richness. They seek unique, iconic experiences that blend entertainment and cultural immersion. Their interests span local history, modern design, and innovative entertainment formats. They prefer venues that reflect contemporary Shanghai trends and provide memorable visual and sensory experiences.

Persona 2: Daniel, The Cultural Enthusiast

Daniel is a 32-year-old from London, passionate about technology, architecture, and cultural exploration. He values authenticity and modern design, often visiting art exhibitions and high-tech attractions. He favors brands such as Samsung, Tesla, and local boutique hotels. His purchasing decisions are guided by a quest for uniqueness and cultural relevance.

Perceptual Map

[Insert perceptual map showing comparisons among global luxury cinemas, local cultural venues, tech-integrated entertainment centers, hotels offering entertainment packages, and social media hotspots]

Competitive Evaluation

Scores reveal strengths of existing competitors in authenticity and design, but weaknesses in innovative integrative experiences. The current BPS lacks a strong cultural or technological edge to appeal fully to this segment.

Proposed Innovations

1. Developing immersive virtual-reality experiences linked to Shanghai’s cultural narratives, creating a distinctive modern cultural experience.

2. Creating themed environment zones that showcase Shanghai’s history blended with contemporary design, offering social media-worthy visuals and sensory engagement.

Conclusion

This analysis demonstrates how targeted segmentation, customer personas, perceptual mapping, and competitive evaluation facilitate the identification of innovation opportunities. By aligning innovations with segment-specific needs—such as personalized comfort for time-conscious professionals and immersive cultural experiences for tourists—iPic Theater can strengthen its competitive position and create compelling, differentiated offerings.

References

  • Christensen, C. M. (1997). The Innovator's Dilemma. Harvard Business School Press.
  • Porter, M. E. (1985). Competitive Advantage. Free Press.
  • Kim, W. C., & Mauborgne, R. (2004). Blue Ocean Strategy. Harvard Business Review.
  • Rogers, E. M. (2003). Diffusion of Innovations. Free Press.
  • Schumpeter, J. A. (1934). The Theory of Economic Development. Harvard University Press.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
  • Higgins, M. (2018). Consumer Behavior and Marketing Strategy. Routledge.
  • Strauss, J., & Frost, R. (2014). Customer Behavior. Routledge.
  • Prahalad, C. K., & Ramaswamy, V. (2004). Co-creating Unique Value with Customers. Strategy & Leadership.
  • Vargo, S. L., & Lusch, R. F. (2004). Evolving to a New Dominant Logic for Marketing. Journal of Marketing.

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