Every business needs innovation and new product developments because, without them, the likelihood of incurring significant financial losses in the future increases. This leads to the fact that creative development should be one of the critical factors that management should consider. When creating a global strategy, the company must be guided by what can provide it with high profits. One of these factors is paying due attention to the scope of innovation in the field of activity (Baxter 41). The management and development department must receive regular technical assignments to ensure that new products are regularly updated in the company’s product line. In addition, an innovative product must carry the function of helping society and solving any social problem. Such a question can be, for example, loneliness. For this, a unique toy was developed to attract people’s attention for a long time.
A great way to promote a product is to advertise the function of artificial intelligence as a full-fledged human companion. Thus, this toy will eliminate the problem of loneliness for children in society. This development is unique because it has in its structure a processor that operates with artificial intelligence with self-learning capabilities (Zhang et al. 2). This, in turn, provides the most advanced and comfortable experience of using the product. While playing with this toy, children can think that they are talking to a natural person. However, this person will never leave them unattended and will be able to answer all questions. In addition, the toy will distinguish the company from competitors because it has no analogs on the market. Thus, this development should be put into practice and production, as it can significantly improve the company’s position in the future. Moreover, it seems possible to develop several variations of the toy. Each of them will have its characteristics, while there will be no differences in production. This way, maximum optimization of production processes can be achieved, and excellent benefits can be obtained.
According to its structure, the toy can be in the form of some fantastic animal. However, the internal design provides some features, such as a gyroscope, moisture protection, and shock resistance. All this will provide the toy with additional opportunities for interaction. For example, she will react to how she is raised, lowered, or in what position she is being held. Moisture protection is necessary so the child cannot spoil the toy if he accidentally drops it into the water or wants to take it into the bath. Such improvements will lead to the product’s interaction with the child for the longest possible period. This is necessary so that the child who plays with it feels that the creation is genuine and not just a toy. Such an effect will have the most positive effect on the statistics of purchases since children will want to acquire such a toy when they see it with one of their peers.
Sales can be made through the dissemination of information about the innovativeness of the toy and the purchase of the latest advertising media. Emphasis on uncovering the innovative capabilities of a product is vital when serving it to customers (Kline 9). However, there is a second way involving presenting as little technical information as possible to lure people in with a sense of curiosity. Thus, all the new product’s advantages will be revealed to potential customers, and as many people as possible will want to buy a toy.
It can be summarized by saying that this product has a unique system within itself. This differs from all currently presented products on the toy market. Thus, it will help to provide this product with a free niche with no competitors. This factor will allow managers to quickly recoup investments in the production of goods since sales will be significant. The presented project can strengthen the company’s position in the market and increase its profitability.
Works Cited
Baxter, Mike. Product design. CRC press, 2018.
Kline, Stephen. “Limits to the imagination: Marketing and children’s culture.” Cultural politics in contemporary America. Routledge, 2022. 299-316. Web.
Zhang, Fangyu, et al. “Consumer innovativeness, product innovation and smart toys.” Electronic Commerce Research and Applications 41 (2020): 100974. Web.