Gaining feedback from your customers on your product benefits your product development and future offerings.
Followership is the strategy of following the first mover into a new industry. It can have advantages such as existing infrastructure and customer base, but also carries risks such as greater competition and slower product innovation.
Exploitation is using the current resources of the firm to improve innovations incrementally.
The Stage Gate Model is a process for managing product innovation and development. It is used in large organizations that emphasizes structure and discipline. It outlines a structured approach for successful project management and decision-making.
