Third Quadrant: New Products

Ofer Mintz ()
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Ofer Mintz: University of Technology Sydney

Chapter Chapter 9 in The Post-Pandemic Business Playbook, 2021, pp 93-105 from Springer

Abstract: Abstract This chapter discusses a second growth strategy firms should consider employing, which is to create new or modified products tailored to existing customers. The chapter first details why firms should make minor product modifications or create new minimal viable type products to match customers’ adjusted preferences. Then, the chapter details that firms need to follow their customers for how to improve these products for the long-term, in particular by making product modifications that directly address long-term customer preference changes or potential supply chain problems. Detailed examples from a mom-and-pop crafts store, a national tea auction, a toy manufacturer, a luxury clothing retailer, a multinational coffee shop chain, a grocery delivery service, and snack manufacturers are also included.

Date: 2021
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DOI: 10.1007/978-981-16-5868-6_9

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