The Corporation has constantly developed the easy of use products. The iPod is a good example of growing the brand innovation strategy achieved via effective and pragmatic innovation. It gives good experience to customers through direct download option with easy-to-use listening option, so that people are ready to pay the price for it. Additionally, the iPod is a connection with other Apple’s products as it must be used with a hand-held product. This way the Apple Corporation extends its brand visually and technically. Besides, the Apple Corporation produces the iMac. This product introduction at the market widened the Apple brand popularity via easy-to-use interface, good price and aesthetic product evolution.
When innovation occurs, it is spread from the innovator to a company. The innovation circle of a company must include service design, product design, and brand design methods. The innovation circle can be described using the diffusion or in other words, the ‘s-curve’. Companies usually work on new innovations that will finally replace the previous ones. Effective diffusion curves replace the previous ones and continue the growth. The dilemma of innovation management is the challenge for the company to understand how to become innovative. The innovation circle can be very effective for a company.
Benchmarking is a process of improvement when a company compares its work with the best organizations, defines how the companies achieve the work level. After the investigation a company uses the data for improving its own work. Competitive benchmarking is used for analyzing competitors. When you research your direct competitors, you research the best company in the industry. Then this benchmark company is used as a standard for improving your own business.
Summarizing, the company innovation is the brand, product and service innovation which should go together for achieving the best possible result in a competitive world. Consequently, Porter’s recommendations concerning the strategy formation are based on the concept that a company has some competitive advantages. However, it is not clear how these advantages have been achieved. The model is used only in case of growth retardation and sectors’ stagnation. Porter's model has constantly been challenged by other academics and strategists such as Coyne, Neill, Subramaniam and others, who have extended it. Porter’s theory has been elaborated for a product of his time, when there was a relatively stable environment. Five forces theory does not point out what competitors are described - actual or potential and what substituted are meant - internal or external. Porter’s five forces theory does not have a very clear taxonomy. Moreover, his theory does not make much emphasis on technology and innovationFree Articles, which are very important nowadays.
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