How often should you innovate your products?

[chicnthin]

There is no specific time one needs to repack or innovate your what you are selling but you should do that when you notice drop in patronages or sales. You can also do that when you noticed some errors in your initial package and you want to correct it with the new one.
[automerge]1611570857[/automerge]

There is no specific time one needs to repack or innovate your what you are selling but you should do that when you notice drop in patronages or sales. You can also do that when you noticed some errors in your initial package and you want to correct it with the new one.

That's right. It's important to make some changes on the products when it is necessary. The purpose of it is to improve the quality, that will make the customers patronize the product. It may also attract new customers while retaining the old ones.

 

[Kane]

You need to upgrade and innovate your products frequently. When I say frequently, I don't mean to say that you have to upgrade product every six months or every year. What I mean is regular upgrading, maybe every 2-3 years. You not only have to upgrade your products but also introduce new products.

 

[chicnthin]

You need to upgrade and innovate your products frequently. When I say frequently, I don't mean to say that you have to upgrade product every six months or every year. What I mean is regular upgrading, maybe every 2-3 years. You not only have to upgrade your products but also introduce new products.

I agree with you. Innovating regularly doesn't have to mean you should do it often. Just make some changes whenever it is necessary. When you notice that a product needs upgrading or fix some issues. And of course it is important to offer new products once in a while, to keep up with the trend.

 

[Diamond07]

Innovation should be frequent In a business. You must be creative enough to add more features to your product or service for customer's satisfaction. Check out what your competitors are doing and improve on yours

 

[Folaham]

Innovation plays a big role on business' success as it always offers something new. Cellphone brands are always in stiff competition because each phones always release new units every year with cool features. For instance, the apple & samsung competition and many other brands.

Some businesses doesn't need much thinking on innovation but rather concentrate on statement of quality but trying all day to make sure that the quality of their product speaks for itself today and tomorrow while some products or businesses need constant innovative ideas to keep their feet a step ahead of their competitor

 

[Thosynho]

You need to upgrade and innovate your products frequently. When I say frequently, I don't mean to say that you have to upgrade product every six months or every year. What I mean is regular upgrading, maybe every 2-3 years. You not only have to upgrade your products but also introduce new products.

This is right, frequently could be every 2-3 years. Innovating ones business frequently simply means you are not short of ideas and you are still ahead of your game. Some entrepreneurs never bother to upgrade or bring innovations to what they sell.

 

[KvngMurphy]

As a manufacturer, I think innovation should be done yearly to diversify your products. In order to be successful innovation must satisfy a customer need. Although Innovations often don't bring the desired success because they don't bring real benefits to the customer or are aimed at the wrong target group. An innovation must differentiate itself from the competition and be distinguished by at least one unique feature. This differentiating feature should be highly relevant for the user and should be able to be maintained in the long term.

 

[Chumzy]

I think the answer to this question will depend on competition. The competition in the market might require you to innovate to succeed. Other than that it is also nice for you to rebrand once in a while.

 

[Praizee]

I would rather innovate my business after three to four months. In case there are lapses in the first strategy given. Then if the strategies works out good then I would make it last for like six months. But if it is not good enough I would not wasste time to innovate it.

 

[Shayo]

Regular product innovation or creation is important to a brand or business, it keeps the revenue growing as customers are impressed and put in more sales.
There is really no specific answer to how often product innovation should take place. How often a product depends on the business owner or management and nature of business.

 

[GIFTMICHAEL]

Branding and rebranding is what keeps a product more competitive.
Brand or innovation comes from renewed idea. There is no how you can sell without bringing new features new innovations into an existing product.
Infinix phone is busy molding new innovative phone that makes people keep running into it.

 

[Kehinde]

Copy someone else's idea. One of the best ways to innovate is to pinch an idea that works elsewhere and apply it in your business.
Ask customers.
Observe customers.
Use difficulties and complaints.
Combine.
Eliminate.
Ask your staff.
Plan.

 

[Koldej]

This is a very good question, what we need to understand is that for you to keep on maintaining your customers you need to keep innovating your product, and to my understanding I think you can keep innovating your product in every 3 months, not by innovating alone bt by making sure the product is a quality product

 

[Chizfab]

Innovate when it is necessary, their are other aspect of your business you should go us more on. The market has become familiar with your product design, changing it often times can paint a bad picture. You can change it when there is a huge change in your business that warrants an innovation. However, if you have the means to innovate frequently, then go ahead
[automerge]1612126842[/automerge]
Innovate when it is necessary, their are other aspect of your business you should go us more on. The market has become familiar with your product design, changing it often times can paint a bad picture. You can change it when there is a huge change in your business that warrants an innovation. However, if you have the means to innovate frequently, then go ahead

 

[Obaterof]

Now with innovation, there are costs and risks. It takes effort to create new products and many of them will fail. Companies like Microsoft, Google and Apple, have departments just creating new products. Most will not go anywhere. By most, I mean 99%+ of the products. Because of their economies of scale and high profits, this is possible. Smaller companies don’t have the resources to be doing this.

 

[Akinwale701]

Innovation plays a big role on business' success as it always offers something new. Cellphone brands are always in stiff competition because each phones always release new units every year with cool features. For instance, the apple & samsung competition and many other brands.

Innovation should be done every time for a business to continue to grow and record successes in terms of sales and customers growth, however there should be a time frame to allow innovation to play its role. my point is if a product is innovated now, the company should leave sometimes to check whether the innovation brings good result before doing another one.

 

[Xerryl]

How often should you innovate your product? Well as business is concern you need to innovate your product always and everytime why is that in business you have alot of competitors.

 

[Psalmsavatar]

Innovation is very necessary and should be done on frequent basis.
Innovation plays a big role on business' success as it always offers something new. Cellphone brands are always in stiff competition because each phones always release new units every year with cool features. For instance, the apple & samsung competition and many other brands

 

[Olahab]

innovating your products will bring more sells for you then you should go ahead and innovate. Ensure you recent innovation has positive impact on the life of your customers.

 

[Divulgence]

The successful exploitation of new ideas is crucial to a business being able to improve its processes, bring new and improved products and services to market, increase its efficiency and, most importantly, improve its profitability.

Marketplaces - whether local, regional, national or global - are becoming highly competitive. Competition has increased as a result of wider access to new technologies and the increased trading and knowledge-sharing opportunities offered by the Internet.