We have seen many books in product innovations. They all taught us about the fundamental on the steps and process of inventing prototypes, inventing the real product and main basic factors of how to this and that.  All of those knowledge is good, but not enough to achieve a great success in the market.

What are factors to be successful in product innovation

  1. Do your homework – Most of the product innovation project do fail during and after the innovation and development step.  This because it’s lack of plans.  This plan is usually coming from doing the homework.  You need to study the product development process, factors, and market well enough to start the project.
  2. Put microphone to the target group mouth – This is just an exaggeration.  This means, you need to do research at the target group where your product will serve them.  Simply said, you’ll need to study the behavior of your future target customer before implementing the project.  Since you might do not wish to build any product to serve the zero user group of customers
  3. Comparing & Benchmarking – Of course, the customers want any product that they feel that it’s better and giving more benefits to them comparing to the one they’re using.  Then, this is the point where you should look at the different products, comparable product to yours, and a better product to benchmark them with the product that you’re trying to invent.
  4. Sharpen your decision – Many product innovation project failed because the lack of clear RED & GREEN LIGHT during the project process.  The decision must be made in certain steps of the product innovation and marketing.  If the project is seem to be fail in the beginning of all thing, the red light must be visibly on.

The concluded 4 main factors to success factors in product innovation are variable.  This depends on the common sense and intelligence of the persons in the project and this requires the implementation of the person involved.  The steps in innovation do not fixed but it might change overtime depends on the situation and the environment of the market itself.  Think wisely and consciously before deciding to do anything

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