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As we welcome the new year, we asked our team of productinnovation experts and thought leaders to identify trends they’re seeing across the industry and within our customer implementations. Trend #1: Greater Financial Scrutiny on New Product Development Balanced Against Innovation Opportunity While the U.S.
Embracing this approach can lead to disruptive innovation examples that not only meet customer expectations but exceed them. Remember, the key to successful productinnovation is understanding your customers and continuously iterating your product to serve them better.
And this will require changes in productstrategy. Companies are under increasing pressure to significantly shorten their product cycles and rely much less on well-choreographed and fully-controlled product releases. But fighting against this trend will most likely be a losing upstream battle.
A look at global trends such as energy demand should remind leaders of businesses small and large that what we do every day matters. Taking that leap, though, has opened doors for us to create a path for customer conversations around solving business issues and accelerating the pace of productinnovation.
📆 August 15, 2024 at 11:00 am PT, 2:00 pm ET, 7:00 pm GMT Use Product Management Today’s webinars to earn professional development hours! Register now to save your seat!
For instance, Unilever uses portfolio analysis similar to the BCG Matrix to ensure it invests more heavily in high-growth product lines like plant-based foods while reducing spending on declining or niche categories. It enables tailored marketing actions based on a products position in the matrix.
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