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You don’t need a crystal ball to uncover future opportunities, just a keen eye

March 27, 2013

The dynamic nature of the relationship between consumers’ needs and what the market place offers is the key to discovering where the white spaces lie for your future innovation. Understand the fine balance of this relationship, and you can prepare the best ground on which to stake your investment.

The extent to which people change their behaviour to adopt a new proposition depends on how effectively emerging benefit propositions are seeded in their minds. Many of us looked askance at the iPad and wondered whether Apple was being a little self-indulgent with their innovative capabilities. But on the contrary, once the idea was seeded, consumers discovered new needs – tying iPad usage in with TV, for example – and the benefit bundle offered by the iPad was effectively extended.

The evolving ways that consumers receive new news and their desire for products and services to fulfil their needs are not confined to within the category. Ideas jump across boundaries; from the personal care market to technology, from travel cards like the Oyster card to credit cards and other data transfer media. It’s a case of being able to synchronize consumer receptivity to new ideas with existing market influencers – this will help you create a roadmap that highlights when, and where, to launch your innovation.

At GfK, we provide the keen eye. Our array of decoding and ethnographic approaches are on hand to define your market landscape and make sense of the benefit bundle patterns on offer, building a framework to deal with the wealth of information that consumers are constantly assimilating and processing. In this way, you can create the best possible roadmap to innovation success and a decent return on your investment.

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