TITLE

Material Whirl

AUTHOR(S)
Shulman, Robert S.
PUB. DATE
March 2006
SOURCE
Marketing Management;Mar/Apr2006, Vol. 15 Issue 2, p25
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
In this article the author contends that, no matter the economic conditions, there will always be a market for new and innovative consumer products and services. While new products fail at a rate of 90%, successful innovations can add so much to a bottom line that the risks are worth taking. Consumers will try new goods and ideas, things that, for the most part, they see on television. In 2006, however, they were far from satisfied with new products on the market. In order to introduce something the new the author has isolated 5 factors. Companies should make innovation central to their missions. Products must be tested, refined and adjusted to fill a specific need. The wants of consumers must be at the forefront at all times. The product must be strenuously tested. The return on investment must be defined before development. INSET: Most admired new products in 2004.
ACCESSION #
20545154

 

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