Business concept o children and women’s online shoes
Develop a simple innovative framework for a business concept of your choice using the five (5) key questions (what, when, where, who, how). Next, predict whether or not this strategy will require an incremental change or radical change. Provide support for your response.
The business concept that I will develop is children and women’s online shoes. Women like wearing different types of shoes for various occasions. For instance, women can wear heels for special occasions, boots for cold and snow, everyday comfortable shoes, and sandals for the beach. In addition, children like wearing shoes to promote healthy foot development and look good.
WHAT; creating an online program that caters to the needs of children and women.
WHEN; an online program will start in summer where a variety of shoes will be offered to children and women. The variety of shoes I will offer will be obtained from wholesalers. My target population will be children and women.
WHERE; Shoes will be sold through an online platform. My idea would be an incremental change where there will be continuous improvement of shoes according to the needs of customers.
WHO; The program will cater to children and women. I create a program where customers can express their views in order to improve the quality and design of products.
HOW; I will use a web designer who is a specialist in an online retail website. The retail website application will offer options for photos, sizing, and available colors and shoe descriptions for my online shoes.
Discuss three (3) ways that an organization could benefit using the search strategies of Zone 1 (Exploit), Zone 2 (Explore), Zone 3 (Reframing), and Zone 4 (Co-evolution) to explore the best space for their innovative strategy. Provide support for your response.
Zone 1 (Exploit); This zone will help in preparing to start an online program to sell shoes. It will help to create a good relationship with customers and wholesalers who will supply materials. Zone 1 will assist in the marketing strategies of the products.
Zone 2 (Explore); Market is examined closely. For example, Apple merged with Beats. This merger enabled the two companies to expand their market and even expand.
Zone 3 (Reframing); This zone will create collaborations that could lead to a great idea. For instance, Boost Mobile collaborated with T mobile.
Zone 4 (Co-evolution); This zone is a trial and error for ideas that have come to play. It needs a person to search for new ideas and ways to get along and make interactions with other ideas.