INNOVATION AND PROJECT MANAGEMENT+ MARKETING STRATEGY AND PLAN
Question 1
The brands associated with firms’ products and services are essential as they are intangible assets that provide value to the firm and its customers. Since the brands are treasured in a firm, the management focuses on the designing, communicating, nurturing and protecting the brands. Rosewood seeks to build a worldwide reputation with iconic luxury hotels. Rosewood is unique as it is committed to unique, one-of-a-kind, luxury properties. The brand compass at Rosewood has been built on the concept of place and therefore, the properties under Rosewood seek to capture what is unique about a given location regarding culture, history, and geography (Chekitan, 2007). The priorities of the stakeholders are increasing customer profitability and lifetime value.
Question 2
Rosewood’s iconic hotels and resorts are unique regarding design and personality and target guests from all over the globe. The other Rosewood’s customers are travel agents and private owners who purchase rooms and suites. The customers need unique guest experience which is reflected by the location, history and culture of the hotels they choose to visit (Keinan, 2008). The teams of experts at Rosewood have some degree of flexibility and creativity to ensure that the tourists have the experience that exceeds their expectations.
Rosewood competitor includes Ritz-Carlton and Four Seasons as well Orient-Express (Chekitan, 2007). The competitors provide the same services and products as Rosewoods. Rosewood’s collections of property in the crowded field of luxury operations were positioned; two approaches were employed. The approaches are the frequent stay program and the adoption of a corporate branding approach. “The Sense of Place” philosophy whereby each hotel has a local character and culture of the given location helped Rosewood stand out as it was a unique approach that the other competitors did not use.
Question 4
Apple has been so successful because of its commitment to product design and development. The success is attributed to not only the clever strategic moves but also to the deep commitment to understanding how people used computing devices and a desire to develop great devices (Iansiti &, Cormack, 2016).
Question 5
Design is a plan that is produced to show the working of an object. Design encompasses the ongoing process, business decisions and strategies that enable innovation and enhance the creation of effectively-designed products, services, communications, environment and brands that provide organizational success and enhance the quality of life (Thomke&, Feinberg, 2002). A good design is one which is simple and easy to use, and it should also be beyond normal.
Question 6
Time management is a key factor during launching phase of a project as well as in the planning phase to prevent introduction of an obsolete product in the market. A flexible approach allows firms to respond to changes in market and technologies during the development cycle further emphasizing the importance of time management (Iansiti &, Cormack, 2016).
References
Chekitan S.D. (2007). Rosewood Hotels Resorts: Branding to Increase Customer Profitability and Lifetime Value. Harvard Business School.
Iansiti,M, &, Cormack, A. (2016). Developing Products on Internet. Harvard Business Review.
Keinan A. (2008). Understanding Brands
Thomke S &, Feinberg B. (2002). Design Thinking and Innovation at Apple.
