Market Research on Selling innovative products and services

What should a manager do to sell a product?
In today’s competitive scenario, when times are tough and options for product purchase are many for the consumer, companies keep on positioning and repositioning their products in their respective sectors. They have a tough battle to engage themselves with. They not only face challenges to sustain market share but also face the entry of new entrants at the same or competitive price.

With the growing and diversifying needs of the customer and increasing complexity in consumer buying behaviour, companies will have to innovate or concentrate their efforts to prolong their product life cycle in the times to come.

It is well known that doing research is an expensive zone for most companies in all sectors. The challenges therefore become multi fold.

Competitive scenario, declining margins and profitability on the sales of the products are pushing companies to find ways and means of manufacturing products with new features.

Ever heard of a toothpaste for all types of dental pain, Solar Air conditioners, Ozone friendly deodorants, Mouldable plastic boxes when exposed to light, heat or touch, All purpose chairs, Weight loss milk products, Movement oriented TV sets, Instant eat tasty protein supplements,
Photosensitive clothing, Safety alarms, Internet based radio sets, Home garbage recycle machines.

Well if not heard today, these will be definitely heard tomorrow. Companies today are definitely thinking of moving towards innovative ideas and come up with products which will get them new customers at a steady pace.