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#innovation

Stop Dismissing Incremental Innovation

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Stop Dismissing Incremental Innovation

Successful small-scale and incremental innovations

Companies with very large R&D budgets are incentivized to pursue expensive, large-scale innovation efforts that have the potential to become blockbuster new products—and that those projects receive the bulk of R&D funding. The problem with this high-risk, high-reward strategy is that it may not pay off. 

Successful small-scale innovations: spend small, but focus that investment on marginal improvements in the most valuable brands, aimed at solving real consumer problems, that consumers value and would pay a little more for.

#innovation

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Why great innovation needs great marketing

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Why great innovation needs great marketing

Marketers need to be included in development discussions earlier in the innovation process.

Strategic, upstream marketing that is incorporated into the innovation development process can clearly define who to sell the new offering to and how to sell it in ways like this: Identify unmet and unknown customer needs, engage with customers,use a go-to-market strategy appropriate for the innovation and its customer,...

#commercialinnovation

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