Sample Essay
The linear models can be further classified as cyclic and feedback models. Cyclic models comprises of methods that tend to modify the existing products in response to customers feedback. It is implemented when market research shows the customer satisfaction graph being in the favor of change or not. If the product is sensed to be gaining demand upon modifications, chances are more likely to revise the product. Although if there isn’t any change wanted as represented by the stats of customer feedback, the products remain the same (Wallace, 2003).
Feedback models are the types that give stress upon communication links at all the levels of innovation procedures. Every phase of the innovation or development requires a feedback so that the final product doesn’t miss any necessary or valid requirement.
Innovation faces challenges as well. The biggest of all the challenges is the product competition. Creating a product which is already known to its predicted users by other means or competitors is often noted as the challenge. Usage of technology and creativity of design and functionality can be insufficient in raising the revenue if it is already leaked in the market or presented from another competitor. Innovation gets the click, if it is widespread at the right time. Technology is often introduced with creative designs and superior functionality in order to give an edge over others, but the first one to create such a thing among the competitors takes the market at the first place (Sagar, 2006).
This is just a sample term paper for marketing purposes. If you want to order term papers, essays, research papers, dissertations, case study, book reports, reviews etc. Please access the order form.
