Companies find good ideas by researching competitors’ products and services. Select one consumer product category with which you are familiar, either because you or a family member or friend purchase it or use it frequently (for example: shampoos, carbonated beverages, snack foods, baked goods– if you have a question about whether the category qualifies, just ask).
- Suggest one incremental innovation that you would like to see for the product/category chosen. For example, would you prefer a different form of bottling for shampoos? A different flavor for soft drinks—cola flavored chips, for example. Do any of the items in your research have glaring weaknesses as in its cleaning properties, smell, or taste that a company can improve upon?
- Link your suggestion to an unmet consumer need. State why you think others might have this same need?
- Why is competitive research so important for companies to undertake?