New products come on the market all the time. Some are completely new concepts, but most are additions to or modifications of concepts and product lines that already exist. And while it’s true that extending or revamping old products is usually easier and cheaper than conceiving and developing entirely new ideas, all three types of product..
It’s fairly hard to run a company these days without an online presence. Over four billion people — over half of the world’s population — use the Internet, with most of them expecting the ability to check their computer or phone for additional information about the businesses they encounter. It seems, first and foremost, a good internet..
The inherent nature of human psychology makes it hard for the average person to accurately describe an event. Physiological and cognitive processes occurring in our brains as we experience and think about our lives serve to retain, categorize and recall only the pieces of information we deem most valuable, thus creating memories for us that..
Companies introduce new products all the time. Whether those products succeed or fail often depends on the processes that went into their development rather than the usefulness of the products themselves. A profitable (i.e., successful) product is one that reaches consumers in the right place and the right time, as well as satisfies a specific..
In the first quarter of 2018, the manufacturing industry “contributed $2.33 trillion to the U.S. economy.” It’s an interesting fact, especially if you know that the majority (approximately 98%) of U.S. manufacturers employ less than 500 employees. While automotive and aerospace giants like General Motors, Ford and Boeing might immediately..
Information is power, and in the business world, it also frequently equals money. The more facts and figures a company can gather about how and when and why people use its products or services, the better it’s able to meet and exceed their demands, hopefully generating profits along the way. Harnessing effective information is made easier and..
In the business world, questions of “who” and “what” and “why” and “how” help shape decisions that hopefully satisfy consumers, secure new customers and improve bottom lines. But obtaining the right information to facilitate those decisions depends on whether or not you’re asking the right questions to the right people in the right ways.
Unless you have a crystal ball, it’s hard to predict just what the future will hold. And knowing what the future holds isn’t a concern that only worries individuals. For businesses, it’s a question whose answer often means the difference between them staying afloat and sinking like a stone in a wildly turbulent sea of competition.
So how does..
With quality customer engagement replacing the traditional ad campaign as the main stimulus to sustainable brand awareness and greater customer satisfaction, the commonplace customer experience survey is assuming an increasing level of importance in a company’s overall business strategy. No longer is it used as a simple indicator of past..
It’s easier than you might think to have a good idea. But it’s harder than you think to make it work. For startup companies, it’s the execution of the vision that’s the difficult part of their business plan, not coming up with the vision itself. Solid market research, however, can help these fledgling businesses understand the market and, thus,..