Innovating Challenges
Every great idea, every significant innovation is only as good as the will of all those in charge to deal with setbacks, doubts and problems: Regardless of the size of the companies involved or their experience in product development, there are challenges along the value chain that only become apparent in practice.
The imc – Dr. Benedikt Meier GmbH provides industry- and product-specific solutions and implements them on request – for small and medium-sized companies that manufacture and sell consumer goods, for entrepreneurs and start-ups who want to set up appropriate structures, as well as for capital goods companies and investors.
Typical challenges, and ideas for solutions
Challenge: Value chain is not efficient
Even the best idea takes many months, often years, to become a market-ready and competitive product. Along the complex value chain, there are countless events that make innovation inefficient or even impossible. The causes are diverse, as are the solutions: transparent responsibilities, innovation-open corporate culture, clear interface management…
Challenge: No ideas for innovative products and/or new markets
In the tough competition for customers and market shares, companies depend on innovation to stand out from the competition – on the product side, in management and employee culture and in relation to the market. Regular external impulses are just as beneficial as structural change to anchor innovative thinking in the corporate culture.
Challenge: Ebit too low
If the product costs are too high and the return is too low, there is a lack of important liquidity for innovations and relaunches. Depending on the market, product type, life cycle, industry and target group, there are different approaches to optimize the cost-income ratio: product potentials can be assessed differently, sales can be adjusted, or pricing policy redefined.
Challenge: extension of the customer base does not work
Customer expectations and demands are fast-moving and depend on complex macroeconomic, cultural, and social factors. If the expansion of the customer base is not successful, a market and competition analysis, for example, can reveal options for adapting product, design, usability, service and marketing to the target group’s purchasing patterns.