Innovation is all about creating products and services that make your company more competitive in the marketplace. Those actions typically include generating ideas, creating prototypes, building the business case, and getting alignment to launch. Marketers must develop a strategy to know where to focus their resources.
Think about the last time you bought a car or perhaps a computer. Now, think about the next time you’ll buy one of those items. Are you going to do it exactly the same way as before? If you’re like most consumers, the answer is probably not. That’s because you learned some things from the first experience that will improve your purchasing behavior on the next experience. That's especially true with new, innovative products.