By ethan.burton-Oracle on Jan 15, 2016
In the past, innovative businesses had it easy. The pace of change was much slower and first mover advantage was, as a result, more important. Not so today. Let’s face it: even with patent protection, products are largely becoming commoditized. If a brand launches a cool new product it’s now just a matter of months before competitors are able to launch similar products. Globalization and technology innovation is, by and large, commoditizing consumer products.
Brands are reacting to this change by innovating in a different way; namely: through business model and service innovation. Today products are less important in delivering value to businesses; it’s the service wraps and ancillary revenues that count.[Read More]