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Many times peoples create a product but on the way to the marketing they fail and the product doesn’t become successful. Innovation is a very important part of a product in order to be successful they have to improve a current product or a service because today making something it has to be make it basis to customers’ needs that’s it what in the end it will make it very successful.

As an example the concept of going to the shops is being redefined as the shops are beginning to come to us, both virtually and physically. From big box to boutique, retailers are reviewing their size, shape and permanence to forge new relationships with consumer groups.

Technology is also taking the schlep out of shopping queues are a thing of the past as customized swipe technology calls up pre loaded orders, relevant offers and personal details, leaving more time to enjoy the fun side to shopping.

Consumers are also trading in new currencies cash is no longer king but a new value is being placed on brand relationships with the expectation of value adds in free information and advice.

Now With price transparency another important factor thanks to applications such as Red Laser providing real time price comparisons, brands must continue to reevaluate value and look for opportunities to add to it whether through service, advice, education or support as an example many smart phones have apps that when you are looking for some products you can go and scan the product at the store so you can find out online witch retailer have it online in a better price.

In today's rapidly changing retail landscape you have to analyzing client feedback, briefs received and insights from their research groups, informing the shape of future retail in the global market place, as well as the huge opportunities for bold new brand experiences that these present, Future Retail is an essential overview of the direction retail is set to take in the decade ahead.

According to Phillip Kotler, a product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want. Thus product may be a physical good, retail store, person, organization, place, or idea.

Product and service innovation is the result of bringing to life a new way to solve the customer problem through a new product or service development that benefits both the customer and the sponsoring company.

The myth that products are developed by lone geniuses in their labs, who turn sudden inspiration into practical innovation wasn't quite true even in Thomas Edison day, and it certainly isn't true today writes Michael Hammer. Reality is far more complex. Talent and inspiration are necessary but not sufficient. To create and launch nearly any new product today requires many people with many different skills.

The market leader is dominant in its industry

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