Innovation involves creativity which results in the introduction of new goods/services which is something we at Vivolution take great pride in as we use our experience to help bring innovative start-ups to market. Our VivoInnovate process allows for us to validate venture proposition through market analysis as we take a service design led approach to development. When presented with a new product we are able to focus on testing and validating assumptions, usability, bandwidth and how easy it is to use for the user. By placing the end user (i.e. the customer) at the heart of the process, we can ensure that the value they gain from the product/service is maximised.
We are able to understand your commercial proposition by using a comprehensive-evidence based approach which allows for you to ensure that adding value to your product/service is your priority. Early stage interaction with customers is vital to any innovative business and we achieve these insights through different channels:
- sampling of end-users and target audiences.
- buyer personas and 1-2-1 interviews.
- product market fit analysis and competitive positioning.
Our last feature of VivoInnovate is to ensure that your venture is sustainable for the future as a continuous improvement approach must be developed, which is showcased by some of our portfolio of our clients on our website. We are able to achieve this approach by the implementation of qualitative and quantitative analysis to refine strategic decisions.
Why is innovation needed in business?
Innovation is fundamental in the business world for a number of factors. It is vital for economic growth, especially technological innovation, as this refers to the increase in the inflation-adjusted market value of goods and services produced by the economy. In addition to this, innovation has created a vast amount of new jobs as nearly 133 million new jobs are predicted to be made by technological innovation by 2022 however, this will place a lot of importance on the individuals in these jobs being experts and so called “regular workers” may be forced to work lower income jobs.
Innovation is not only important in new businesses but, in order to have continuous development businesses must understand the need to be innovative. Innovative processes in current businesses will help to reinforce the brand within the consumers minds but it will also allow for current trends in their market to be met so the business remains up-to-date and relevant.
Vivolution is a management consultancy in Glasgow with focus being placed on supporting companies who have aspirations of revolutionising the healthtech, fintech and digital industry. Read more about our cornerstones on our services page.