For the development of new products, it is crucial to understand what problems current customers have with existing solutions. Finding customer problems is key to developing the right solutions!
Open innovation in new product development is the dominant model of innovation in the 21st century. It allows us to extend our horizon when developing new products and capture the best ideas out there. Let’s see how open innovation in new product development works – and what special role so-called connected innovators […]
The new products process is the path that a new product takes from idea to the time of launch and beyond. Let’s investigate the necessary steps to develop new products: the 5 phases of the new products process.
The term new product can mean different things. Six different categories of new products can be identified that are all quite different from each other. Still, they are all called new products. Let’s investigate the different categories of new products and what the term new product may actually mean.
Startups rarely have perfect products. Instead, the goal should be to start selling even if not everything is perfect yet – the product and the marketing mix around it will evolve over time. But what key marketing strategies for startups are needed to sell a product and a marketing mix […]
Businesses can use creative pricing strategies to maximize revenue. Especially in challenging economic times, creative pricing strategies may help you to increase profit while your competitors suffer from revenue drops.
How to do marketing for startups without having to invest a lot of money? You want to reach out to potential customers but lack the budget for traditional marketing? Marketing for startups is possible, for any budget!
To maximize the effectiveness of your segmentation, you must clearly segment markets using the right market segmentation criteria. Learn how to segment markets appropriately!
Market segments must be profitable – otherwise, they do not deserve the firm’s attention. What are the requirements for profitable segments? Learn how to select attractive market segments!
What are the product characteristics that influence the adoption rate of a product? If you develop and market a new product, you should know what its characteristics mean for its rate of adoption.