Marketing Research

Existing clients are what builds a business and they require a great deal of attention in order for businesses to clench their interest. When it comes to innovating what those customers call for moving forward, or even in the present, it is problematical to ascertain. This croup especially be problem if the mathematical product or advantage the business provides to the customer is something that the customer does not destiny to discuss, or the customer does not regularly consider (i.e. swell rebuy). Businesses focused only on animate customers miss erupt on innovation opportunities with these customers and additional future potential customers. The reason out for this is due to existing customers often not knowing what they privation or are missing and other potential customers wants un-researched by businesses creating missed innovation opportunities.

In the case of existing customers galore(postnominal) businesses rely on surveys for feedback and ideas regarding products and improvements. While this may be useable in refining a product it limits the ability of a political party to find a disruptive innovation. While the company may find the feedback useful the energy put into this can negate the benefit. Growing a business through increases in revenue or improvements to the business model will not come through this medium.





If a company insists on researching existing customers as a basis for innovation it would be come apart to do so using an alternative research system such as observations or experiments. The reason observation and experimentation may work is that through this context a tec may gain insight into limitations of the product or service andor alternative uses that may be available with open but significant modifications to the product which may open the product up to new customers. These two options help reveal what the customer may not even know that they want in a product whereas the survey method keeps a customer confined to the current limited framework of a product....If you want to get a full essay, order it on our website: Ordercustompaper.com



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