The most critical feature of a product often is where and when people will obtain it. You can steal profits from your rivals with creative marketing methods for Example of Innovation Product, by being more accessible or usable than other alternatives.
Can you, for instance, remember the petrol brand you bought the last time you stopped at a highway rest stop? Perhaps not, because it meant little. Whatever brand was sold, you purchased it because you wanted petrol, which provides just one or two choices for highway rest stops. A marketing technique is employed by the gas station owner, who tries to win one of the slots at a rest stop. As the old saying goes, the retail industry has three keys to success: place, place, location. In reality, the three laws of success hold true in all businesses, not only in retail. Do ask what you can do to make the customers more happy and more current. The Web provides creative marketing possibilities, and several companies are developing internet shops that make it easier to shop from the convenience of your own bed at midnight, or anytime and wherever you want.
- Selling Creative Goods Per group of goods has a lifetime cap. At least in principle-and generally in all-too-real reality-there comes along some new form of commodity to displace the old one. The outcome is called the life cycle of the commodity, a never-ending process of conception, development and decay, driven by the relentless inventiveness of rival firms.
- Categories of goods develop, propagate across the industry and gradually disappear as alternatives occur and their own life cycles begin. If you’re selling an new product that only starts catching on (in what advertisers term the life-cycle development phase), you should predict fast increases in revenue and earnings.
- Ask yourself if you would like to sell CD players, cassette decks, CD players or MP3 players today and see the benefits of offering a trendy new commodity. The MP3 player, being the newest of these music listening devices (and other multimedia content), is probably the best. Selling brand, hot goods is simpler to thrive than selling fading old ones which are being replaced.
So the above mentioned Example of Innovation Products , You need to keep a careful watch on your product line as a strategic marketer, and root out any dying old goods until they pull you down with them. Try to introduce trendy new items, so that the strategic strategies can be complemented by the inevitable development of innovative new possibilities.