Why Constant Product Innovation and Diversification is so important
During the 1990��s a phenomenon dubbed e-Commerce emerged, and it appears as though it is here to stay. The amount of money being exchanged for goods via the internet seems to be hitting dizzy new heights year after year, and the simple explanation for this lies with the fact that more and more regular people (consumers) today have access to the hardware and software required to make online transactions possible.
It was not so long ago that internet penetration rates in America, The UK, and Australia all exceeded 50%, and when combined with the fact that the computer hardware products required to access the World Wide Web are getting cheaper all the time,
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Many companies identify the main advantage of selling their products online as being able to instantly and effortlessly reach a worldwide portfolio of customers. However, it is easy to forget that the scenario is exactly the same for each of their competitors who are, in effect, only a few clicks away! It is therefore very important that firms look beyond distribution channels; paying special attention to what it is they are actually selling in order to identify the necessary improvements required to offer better value to customers than rival competitors.
A good example of a company successfully adopting this technique since 1932 is Lindy, an electronics company founded in the town of Breslau, Germany, by Kurt Lindenberg (hence the name �C Lindy). Originally, only petrol lamps and early electrical appliances were manufactured by Lindy but,
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Constant anticipation of consumer needs, and shifting research and manufacturing operations accordingly, has allowed Lindy to remain competitive within the consumer electronics market over the years. Furthermore, their understanding of the true potential e-Commerce offers to retailers was the rationale behind Lindy launching websites in languages such as German, Italian,
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