How does innovation lead to better ROI (Return on Investment)?
Novelty is a very strong motivational factor in the human experience. Change happens. Innovation responds to new opportunities and needs with new twists that better solve the problem felt by a specific target market. Shoppers love to compare their options to get the best value, and innovation differentiates you from your competition. Smart innovation reduces the cost of each product you bring to market because research identifies the need, the distribution system, and the goal of your prospects, evaluation helps you select the best product for your situation, and when you also apply innovation to the launch of the product, you reach the best prospects with the best message for them. Innovation can result in a lower cost product, lower cost promotion and more sales.
