Product, price, place, and promotion are the four Ps of marketing. These days, however, there's a frenetic obsession with promotion, confusion about place, and a hectic battle over price. Amid the chaos, that first P is often overlooked.
When product development is considered, it's often done so in a vacuum of internal research and development (R&D) or as a reflexive response to customer requests. There's nothing wrong with giving the people what they want—but if that's all you do, you're missing the chance for major innovations.
When product development is considered, it's often done so in a vacuum of internal research and development (R&D) or as a reflexive response to customer requests. There's nothing wrong with giving the people what they want—but if that's all you do, you're missing the chance for major innovations.