Speed, agility and openness: the new rules of product innovation | The Insight Files | Scoop.it

There's no excuses for marketers who uncover a high potential opportunity only to see a competitor exploit it first, says Nikki Davey on product innovation. The marketplace is rapidly evolving, channel choices are being disrupted and categories continue to fragment, providing consumers with more and more choices and making it harder than ever to compete. We're currently on the eve of the fourth industrial revolution, where digital touch points reign supreme - social media and digital are changing the way consumers learn and the ways they are influenced to try new things and adopt new behaviours. Now brands are expected to innovate faster than ever to keep pace with the rapidly evolving marketplace. This article outlines a few strategies on how to do so.