Is there a better timing for product innovation?

by Monica De Salzar

A lot of companies and organizations have interest in innovation since the markets are changing quickly and new competitors are appearing constantly. There is also a growing interest on disruption to go towards innovation and a larger marketshare.

Now, is there a better answer? As in different topics, there is no right answer because a good thing to do would be to evaluate and treat each case on an individual basis, where different elements might make big differences between brands, companies, similar products, and even products in the same company!

When it comes to timing (this scheme shows the different moments of a market development and how a trend appears, takes off, gets to its highest peak and begins to decline), a company / organization should always be aware of these stages and how to address each one from where they are. In this perspective the need for innovation, as in disruption versus continuous improvement can be different from case to case.

This means that you can be innovative at all times, because to innovate is to implement the creative process in a successful and useful way for the product, its market, and of course the company / organization.

In order to find out what the best product strategy is depending on how mature a market is, benchmarks and market data are always helpful tools along with #CreativeProblemSolving as part of continuous optimization and search for new user insights.

If you or your company are looking forward to innovate, there is never a better time but there can be better ways to do it, and Creativity is one the most valuable tools to do it.