Research On GRG Company's Product Innovation

Along with the intelligent and the smart process of industries in the world,based on the national wisdom city development strategy,and combined with the domestic banking facing requirements such as upgrading banking outlets and improving customer experience,Wisdom Bank has become the inevitable development trend for future.As a new and powerful self-service terminal,VTM is a beautiful scenery in channel innovation.Product innovation is the key for enterprises to enhance the core competitiveness.Standing on trade of GRG company---the ATM industry,and according to its development situation,this paper proposes that GRG company should promote VTM product innovation.Then this paper focuses on analysis of necessity and feasibility on it,and presents strategies and tactics for GRG company about promoting VTM product innovation.Synthetically applying literature research method,case analysis method,quantitative analysis method,comparative study method and exploratory study method,this paper suggests GRG company conduct VTM product innovation and explores strategies and tactics about it,based on theories related to product innovation and internal and external objective conditions of GRG company.Firstly,this paper explains research background,object of study,purpose of research,significance of research,research ideas,research contents,research method,research tools and innovation points.Secondly,this paper defines concept of product innovation,and reviews the relative literature.Thirdly,this paper introduces development of ATM industry at home and abroad,and using PEST Model to analysis macro-external environment of China's ATM industry from the political,economic,social and technical aspects.Fourthly,this paper presents GRG company's main business,development history,and its market position.Fifthly,this paper demonstrates necessity of promoting VTM product innovation from two perspectives:external macroscopic environment and internal development needs.Sixthly,this paper applies SWOT Model to evaluate strengths,weaknesses,opportunities and threats of GRG company on VTM product innovation.Finally,this paper presents strategies and tactics for GRG company on promoting VTM product innovation.On the respect of product innovation strategies,this paper suggests dynamic integration of market pull strategy and technology-driven strategy,whole process management strategy,speed strategy and continuous innovation strategy.On the respect of product innovation tactics,this paper recommends precaution of new product research risk,inter-departmental coordination and cooperation,differentiated competitive tactics and whole industry chain layout tactics.