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The book "Ten Types of Innovation: The Discipline of Building Breakthroughs" presents several innovative ideas. One of them is the concept of a product system, which is exemplified by Scion, a brand of Toyota. Scion allowed buyers to customize each detail of their new car, offering a range of options for everything from the type of lights and special engines to audio and apps. This approach not only catered to the preferences of younger generations but also offered the potential for higher margins. Other innovative ideas in the book include strategies for improving upon existing offerings and a framework for innovation based on exhaustive case studies and industry research.
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Stop wasting your time on brainstorming sessions that only improve upon existing offerings marginally. Based on exhaustive case studies and research o...
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Scion ingeniously leveraged the concepts of a product system in each of its car sales. As a brand of Toyota, Scion was an effort to capture sales from younger generations that preferred customization and choice in their purchases. Whereas competitors sold new pre-designed vehicles, Scion took the approach of allowing buyers to customize each detail of their new car. Each add-on was part of the greater product system and offered the potential for higher margins. After selecting their "base" type of car from one of five options, drivers could choose from multiple options for everything from the type of lights, special engines, audio, to apps.
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