Marketing your innovation
Connecting with your market is a vital step towards commercial success from your new idea or innovation. Without markets, their segments and their assortment of customers, your idea or innovation has no real value.
'A business exists to create a customer. Without customers, there is no business.'
Peter F. Drucker, Management Consultant, 1954.
The first steps in evaluating your innovation should include its market potential. You should also have identified potential customers who will either buy it or otherwise benefit from its creation. Knowing your customers or final end-users, and exactly how you are going to reach them, and understanding how much they are willing to pay is essential to enable you to sell to them.
This guide will help you understand who your customers are, what motivates them to purchase and how to put effective marketing strategies in place to reach them.
- Last reviewed: 27 May 2021
- Last updated: 2 Jun 2021