Innovation Management Essay Example | Topics and Well Written Essays - 500 words

Innovation Management - Essay Example Spin-Brush, a unique electric toothbrush received this protection from the United States government that kept it flourishing over its competitors over a great period of time. This right has kept away the many competitors in the market from using the design and packaging of Spin-Brush thereby making the product to remain relevant and outstanding in the market. The ‘try-me’ design in which Spin-Brush has been devised attracts most customers to it and probably many firms would want to exploit that so they could also drive in many consumers. This has been protected by the patent rights that Osher received. Patent has also made it easy to license it with companies such as Crest. Its value has continued to be high since many competitors are kept away from altering it making it be the only product with those features. Customers therefore find it conspicuous compared to other products due to packaging and design. Companies are likely to respond in different ways as they try to counter-neutralise the domination of Spin-Brush so that they may remain relevant in the competitive industry. There is a possibility of lowering the prices of electric brushes that previously sold at higher prices than that of Spin-Brush in order to attract customers. Also, companies are likely to mount promotional campaigns to create awareness concerning their products in the markets (Fox, 2013:147). Spin-Brush producers need to increase even more their advertisements and field demonstrations showing how efficient their product is. A counter-promotional strategy would work best to minimise rise of these other competitive companies since the design and packaging in which Spin-Brush is made favours it over other players in the industry. Other inventions are more likely to come up in areas that are not covered by the patent right such as technological know-how behind the production. Consequently, the