Objective: Depict the importance of 'Time in Innovation' Time as a factor is really important when you are trying to innovate. Without considering time, innovation fails. Explained using the case-study of PET.com which failed during the dotcom bubble. Flow of PPT: 1. About Pets.com and the fact that it failed despite aggressive marketing. 2. What is Business Environment and factors that affect it. 3. What is innovation? 4. Why Innovation? 5. Factors affecting Innovation 6. Barriers to innovation 7. How time affects innovation 8. Primary Data collected 9. Problem with Pets.com and Solution 10. Lesson learnt 11. Success Stories

1. INNOVATION & TIME
Submitted to:
Mrs. P. Soni, MPA TUTE
L59
B.Com (Hons.) Sem 3
Submitted by:
Atishay Jain (17BC341)
Kriti Goenka (17BC442)

2. Pets.com
• An online business that sold pet accessories and
supplies directly to consumers over the World wide
Web.
• launched in February 1999 .
• IPO on a NASDAQ Stock Exchange.
• Capital investment of $300 million.
• High profile marketing campaign including its
advertising mascot interviewed by People magazine.

3. Aggressive Marketing
Official Mascot appearing in all
advertisements

4. Still, It was
a failure.

5. What is
Business Environment?
The sum total of all individuals, institutions and other
forces that are outside the control of a business
enterprise but the business still depends upon them as
they affect the overall performance and sustainability
of the business.”

6. Factors affecting
Business Environment
Suppliers Competitors Media Customers
GovernmentTechnologyEconomyTrends

7. DYNAMIC
BUSINESS
ENVIRONMENT
“Either Change or die”

8. What is Innovation?
Innovation involves deliberate
application of information,
imagination and initiative in deriving
greater or different values from
resources, and includes all processes
by which new ideas are generated
and converted into useful products.

9. Why Innovation?
Increasing market share.
Adapting to external environment and
challenges.
Increased Investment in the company

10. BUT,
Just innovation?

11. Factors affecting Innovation
• Timing: Innovation is more likely to succeed during
times of prosperity then times of economic
depression.
• Available and emerging technologies: Technological
discovery or invention can provide the stimulus to
initiate the innovation process.
• Cultural Factors: Institutions that affect society’s
basic values, perceptions preferences and behaviour.
• Economic Factors: Inflation, depression,
unemployment, poverty.
• Legal Factors

12. Barriers to Innovation
Taking the easy way out
Fear of Failure
Organisational environment
Resistance to change
Previous Screw-ups

13. How time affects
innovation?
Not accessible to everyone
No demand for the idea
Not enough resources to sustain it

14. 42%
58%
Wait for the
customers to
get more
compatible
Launch the
idea
immediately
Consider you get a very innovative idea, an idea that is
way ahead of time. Will you wait for the customers to
reach that level so that they are more compatible with
it or will you launch it as soon as you get the idea?
71 Responses
Survey (Primary Data)

15. Problems with Pets.com
• Flawed Business Model
• Lesser demand than expected.
• No market research before launching.
• Neither did people want to buy online nor did
they know how to.
• Less reliability on online businesses.

16. Solutions
Re-establish the brand value.
Do a thorough market analysis to estimate the need.
Take the customers comfort level with the internet
and online shopping into consideration, and wait for
an appropriate time to re-launch the idea.
Focusing more on creating desire than creating
awareness.

17. Lesson learnt
Being the first is not as
important as having the
right timing.

18. Success Stories
• Short-term Lodging
for rent.
• Launched in 2008 at
the time of housing
loan crisis.(There was
great demand and
need for the product)
• Short-term
Transportation
• Launched in 2009
while the first
android-based
smartphone launched
in 2008.

19. THANK
YOU