New Products!!
This one kinda goes hand in hand with research. However new products are vital to sustain growth of a company – to help increase revenue.
Most follow a new-product development strategy. It starts with the basic idea. Where does that idea come from? Many places – customers being #1 on the list. Most companies have places on their sites to allow consumers to leave feedback. Blogging is another way marketers are able to gather new product ideas.
There is one are that seems to have a new product every other day – cell phones. The major players in this are having difficulty keeping up with todays “tech” minded people. Or is it that consumers are just wanting too much? That’s a good question. Hmm, I think consumers are becoming accustomed to having companies jump for them that now to demand faster, smaller, cheaper is 2nd nature