Innovation can be defined as new ideas that a company incorporates to meet the requirements and standards of the consumer market in order to bolster both their economic interests and the growth of the company while maintaining good relations with the consumer. Depending on the type of company and their market targets, the company can approach can handle innovation in different ways to meet its set objectives. Color Kinetics Incorporated as a company can focus on different approaches to innovation such as sustaining innovation, breakthrough innovation and disruptive innovation. In addition to relevant frameworks in place that help the ...
Essays on Lighting Industry
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INTRODUCTION
Color Kinetics Incorporated (CKI) used the Disruptive technology. Disruptive technology refers to the technology in which when introduced it displaces the technology that has been established. This particular technology was applied in the case whereby CKI targeted its products to a different market that is the merchandising, retail and architectural as well as display industries. It was initially selling its products to the professional and entertainment industries. The particular change that CKI applied is also known as visual or “Retailtainment” merchandising. (Narayandas, & Caravella, 2001). Through the application of the visionary market sales strategy, CKI was able to succeed in ...
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