1. Expanding the Invention Quest: Staples should consider expanding the reach and scope of the Invention Quest to attract a wider range of inventors. This can include hosting regional events, collaborating with educational institutions, and utilizing online platforms to gather a more extensive pool of innovative ideas. 2. Providing mentorship and resources: Staples can offer mentorship and resources to finalists and winners, including expert guidance in product development, marketing, and patenting. This will enhance the chances of success for inventors and their inventions. 3. Partnering with inventors: In addition to licensing agreements, Staples can explore partnerships with inventors for long-term collaboration. This can include ongoing product development, exclusive product launches, and shared marketing efforts. 4. Expanding the product line: Staples should continuously expand its exclusive product line by investing in the development and marketing of innovative products. This will help maintain a competitive edge in the market and keep customers engaged with fresh, unique offerings. These 4 are Workable Alternative Courses of Action. Do an evaluation of these Workable Alternative Courses of Action, refer to the attached image, which is an example of Workable Alternative Courses of Action Evaluation.

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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1. Expanding the Invention Quest: Staples should consider expanding the reach and scope of the Invention Quest to attract a wider range of inventors. This can include hosting regional events, collaborating with educational institutions, and utilizing online platforms to gather a more extensive pool of innovative ideas.

2. Providing mentorship and resources: Staples can offer mentorship and resources to finalists and winners, including expert guidance in product development, marketing, and patenting. This will enhance the chances of success for inventors and their inventions.

3. Partnering with inventors: In addition to licensing agreements, Staples can explore partnerships with inventors for long-term collaboration. This can include ongoing product development, exclusive product launches, and shared marketing efforts.

4. Expanding the product line: Staples should continuously expand its exclusive product line by investing in the development and marketing of innovative products. This will help maintain a competitive edge in the market and keep customers engaged with fresh, unique offerings.

These 4 are Workable Alternative Courses of Action. Do an evaluation of these Workable Alternative Courses of Action, refer to the attached image, which is an example of Workable Alternative Courses of Action Evaluation.

 

V.
Evaluation of Workable Alternative Courses of Action
Decision Criteria
Cost-Effectivity
Market Profitability
Service Level
Usage Behavior
SCORE
Weight
ALTERNATIVE RANKING
30%
10%
20%
Information Sources and Influence 20%
20%
100%
WACA 1
Rate Score
2
2
3
3
3
2
0.6
0.2
0.6
0.6
0.6
2.6
WACA 2
Rate Score
3
4
2
3
5
1
0.9
0.4
0.4
0.6
1
3.3
Transcribed Image Text:V. Evaluation of Workable Alternative Courses of Action Decision Criteria Cost-Effectivity Market Profitability Service Level Usage Behavior SCORE Weight ALTERNATIVE RANKING 30% 10% 20% Information Sources and Influence 20% 20% 100% WACA 1 Rate Score 2 2 3 3 3 2 0.6 0.2 0.6 0.6 0.6 2.6 WACA 2 Rate Score 3 4 2 3 5 1 0.9 0.4 0.4 0.6 1 3.3
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