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Not known Factual Statements About 2018 Business Scholars Innovation Showcase Winners How to come up with item ideas Many developers and R&D departments will have a light bulb moment. Usually, however, it is a bit more of a procedure to come up with originalities. If you want to improve your product production ways, here are 5 pointers. 1. Learn the current patterns What is occurring out there? From the fidget spinners of a few years ago to "Gangnam Design" in the ancient times of 2012, there is always some pattern that permeates pop culture and the market. 2. Fix an existing issue Is there an item out there that can help you extract juice from an orange? Oh, wait. There currently is. However this eureka moment must not stop you from developing other items that might fix an existing one and after that running it up the flagpole to see who salutes it.  This is how they make $50 billion in revenues each quarter. 3. Enhance product design and development on the marketplace The Black, Berry was a leader in the smart device market, and then Apple stampeded into this segment and dominated everyone. But this was an example of how to boost a product currently on the marketplace.  Rumored Buzz on How to Sell New Products - Harvard Business ReviewTo this day, Apple is above and beyond its competitors. 4. Engage with your customers Maybe the answer to your product advancement remains in your clients. Maybe they want something done, but there isn't an item available outdoors market to solve this issue, whether it is a left-handed can opener or a smoke alarm that calls every five seconds with no signs of a fire. 5. Recreate an older item Social network was around in the pioneer days of the web, but it never ever resonated with the public. Nearly 10 years after the first social media network was established (and then stopped working), the likes of Facebook and Twitter turned up and changed our worlds permanently. This is an example of resurrecting older products and using new uses to them or reestablishing them to the market. |
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