Innovation Strategy: Getting a Winning Product to Market First

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Innovation Strategy: Getting a Winning Product to Market First

Innovation Strategy

Getting a winning product to market first

Innovation is one of the most significant growth levers for business. When conducted well, it provides the largest potential for value creation as a result of increased market share and profitability. It follows that the aspirations of new products or services are high. However, roughly 90% of innovations fail as they are met with overwhelming uncertainty.

Innovation strategy aims to get a winning product to market first, ahead of competitors. It also aims to reduce risk by following a course of analysis that overcomes uncertainty and guides informed decision making, including product features, target markets, competitive positioning, pricing, resources, investments, and much more.

What You Will Learn

  • The types of innovation available to the firm
  • The process of innovation strategy and its break-down into seven steps
  • The development of each step, including the analyses involved
  • The requirements for management to set effective strategic direction on innovation

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