Benefits and Drivers Proposal for Riordan Marketing
There is no doubt that Riordan Manufacturing has sustained its reputation as the industry leader in the field of plastic injection molding. With its current goals and objectives to have an operating income of fifty million dollars, twenty percent increase in their market share, fifteen percent increase in their employee satisfaction and productivity, and, reducing their operating cost by ten percent through streamlining existing manufacturing processes, Riordan is going all out to strengthen further its market dominance.
To achieve the above goals and objective however, Riordan apparently embark on three important factors affecting their operations namely: innovation, design, and creativity. The question therefore is how innovation, design, and creativity support Riordan’s goals and objectives.
How innovation supports Riordan’s goals and objectives
Innovation is define as the implementation of a new or significantly improved product or process, a new marketing method, or a new organizational method in business practices, work place organization, or external relations. The given definition views innovation as a marketing tool or may be marketing strategy which is intended to recapture consumer preferences. In this case, innovation supports Riordan’s goals and objectives because it enhances Riordan’s product image and employees’ productivity Baily and Chackrabarti (1988) pointed out that product innovation raise labor productivity. They stated, “New products manufactured within an industry do enhance productivity” (p. 51). Innovation makes the company updated with the new trend in consumer preferences making these products easier to market thereby reducing Riordan’s marketing costs and therefore Riordan’s goals and objectives.
How design supports Riordan’s goals and objectives
Before answering the question above, it is also necessary to answer the question, what is the purpose of designs? Levy (2002) defined designs as “the visual ornamental characteristics embodied in, or applied to, an article of manufacture. According to Kersten, Bemeleit, and Blecker (2006) designs is “fast becoming a strategic tool for companies to manage and reduce their risk and to achieve competitive advantage.
Going back to the question above, designs support Riordan goals and objectives because as Kersten, Bemeleit, and Blecker pointed out, design is perceived as a financial risk and there is an abundance literature that cites the importance of designs … for companies to become more aware of risks. Riordan’s goals and objectives are definitely exposed to different risks and market forces affecting business organizations. Riordan’s designs for their products serves as their strategic tool to gain sustainable competitive advantage to achieved their goals.
How creativity could support Riordan’s goals and objectives
Creativity has been described by Beigen and Kraitchman (2003) as “a complex of traits, and capacities, including the ability to work autonomously, curiosity, unconventional thinking, openness to experience, and tolerance of ambiguity” (p. 92). By all implications, creativity is important and it is increasingly in demand in the work place.
Creativity supports Riordan’s goals and objectives in the context of employees’ productivity. Employees’ training for creativity helps Riordan manufacturing achieved its goals of fifteen percent increase of employees’ productivity, as well as in the goals of achieving twenty percent market shares because creativity is what makes product differentiation which is the main competitive advantage of any business organization. In connection with this, creativity supports Riordan’s goals and objectives because like designs, it will enhance Riordan’s product’s visual and ornamental characteristics which are important to achieve its goals of acquiring market shares increases.
Baily, M.N. & Chakrabarti, A.K. (1988) Innovation and Productivity Crises Washington D.C. The Brookings Institution
Beisgen, B.A. & Kraitchman, M.C. (2003) Senior Centers: Opportunities for successful aging New York: Springer Publishing Company
Kersten, W., Bemeleit, B., Blecker, T. (2006) Managing Risks in Supply Chain Berlin: Erich Schmidt Verlag GmbH & Co
Levy, R.C. (2002) The Complete Idiot’s Guide to Cashing in on Your Inventions USA: Penguin Group