One of the compulsions of a competitive market is the need to innovate and churn out new products. Besides competition, the customers also contribute significantly, as they are always looking out for better products. Adapting existing technologies and applying cutting-edge technologies to different fields is another facilitator. However, there are several critical issues in developing new products like multiple screenings, balance between aesthetic design and product functionality, intellectual property rights, fast time-to-market, etc.
ABOUT THE AUTHOR K. Suresh
K Suresh (b. 1967) is a mechanical engineer and an MBA from Osmania University. He has eleven years of work experience in industrial marketing, business journalism and as faculty in a business school at Hyderabad. During his stint in business journalism, he covered launch, distribution, promotion and other marketing issues of several products across different categories. His areas of interest are advertising, marketing strategy and rural marketing. He has been a regular contributor to ICFAI magazines on marketing and advertising. At present, he is working as a faculty member at ICFAI Books, an affiliate of the ICFAI University. He has edited several books published by the ICFAI University Press.
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