Innovations
By dolce_vita78
@dolce_vita78 (8062)
Philippines
May 7, 2012 12:33am CST
Today, the world around us is changing rapidly. New technologies emerge and become obsolete in no time, it seems. With rapid advancements in technology, firms must continually innovate and introduce new products faster than their competitors. being the "first to market" a new product is advantageous. One of the benefits is awareness of your product and/or brand as consumers will remember your name and brand.
What innovative products have you seen so far? Which have you purchased?
1 response
@PhillyDreamer (3039)
• United States
7 May 12
I think the cars that can park themselves are pretty innovative, as well as the Hybrid vehicles which have reduced gas consumption. However I think technology doesn't come out fast enough still. Fuel Cell cars should have been out a long time ago, yet the technology is still not in production. I know economics ultimately determines when technology is introduced but wouldn't it be great if we could get this technology as soon as it was invented, instead of when it is affordable to produce.
1 person likes this
@dolce_vita78 (8062)
• Philippines
7 May 12
Economics, undoubtedly is one of the factors considered. A company may have all the ideas for a new product but if resources are not available, then, no output will be produced. Moreover, the capacity of the target market to buy is another thing to consider.
@PhillyDreamer (3039)
• United States
7 May 12
Yes it is really annoying. It's one of the reasons why I don't try to keep up with technology. If I know there is something better right around the corner, I'm not wasting my money on something that wont even last a year before its obsolete. Kind of like all those people who wasted money on two way pagers when cell phones started getting popular.
