Marketing Factoids

  • Fewer than 10% of the London Financial Times Stock Exchange Index companies have marketing directors on their boards source ›
  • Of those people that recently made consumer electronics purchases in a store, 80 percent visited the store's website first. - Nielsen Online survey source ›
  • V users watch more TV than before (127 hrs, 15 min per month) and also spend 9 percent more time using the internet (26 hrs, 26 min per month) than they did last year source ›
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MAR 3

Fix the Actual Process of Developing New Products†

Get Going: There Is Much That Can Be Done Very Early in the Game

Advertising Age, March 3, 2008 — An article published Oct. 1, 2007, in Advertising Age sported the provocative headline, "Want New Products That Get Noticed? Change the Process." The article offered data regarding marketers' views of product introductions.

And it's a dismal picture: Even marketers believe most new products have little innovation or reason for being. And they don't expect to be doing genuine innovation in the near term.

Author Barry Curewitz did a great job of laying out the many ways creativity is not a core value, is not rewarded and is not invited into typical marketing management. My belief is that beyond introducing more creative content, the process of product development can be improved as well. In fact, there is much that can be done to improve the development process after the team's first idea-generation session for the project kickoff.

Category: Innovation
Tag: New Products

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