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Marketers have notorious fallen short on product innovations. This has several reasons. One of them is the “jobs theory” by which once typical jobs are assessed, it emerges that most people do safe duties to simply survive at their work, rather than innovate. At startups, owners can experiment. Even failures are tolerated to in fact learn new lessons from, but this security disappears in big organizations with specialized marketing teams. A lot of time employees are hunting for new jobs, so they only do things told to them by their seniors. Marketing research conducted by McKinsey confirms that a staggering 94% of those polled are unsatisfied with their level of product launches. Things could now change as data may weed out marketing malpractices. Due to the huge quantities of data being mined and then assessed, a kind of standardization to product development processes is being observed. So what used to be hit-and-miss innovation can to some extent be subject to conformity.

Source:http://knowledge.wharton.upenn.edu/article/marketers-often-miss-mark-product-innovations/

 

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