Products and services that are successful thrive on two key parameters:
- Ability to define a new market, or expand on an existing one
- Ability to do so at a competitive price
You might have or offer a ground-breaking product or service; unless you meet both criteria above, your offer is just an encyclopedic entry.
Tapping new markets or expanding existing ones, requires research; new technologies often utilize data acquired through promotional campaigns, sometimes before even defining a product 100%.
Innovation depends on doing, much more than planning. Production cycles depend on customer feedback even at the early stages of a product or service launch.
Success involves taking risks that utilize the trends and shift in the direction of one’s customer base. Due to the large inter-connectivity of today’s world, it is currently easier to introduce new habits to the consumer, than it was 20 years ago.
An example of this, is the upcoming proliferation of brands, through the introduction of numerous new gTLDs.
The consumer is expected to react to well-established campaigns that emphasize change, progress, innovation. In a world filled with commercial and personal challenges, a positive, upbeat and constructive attitude is necessary. Negativity does nothing but switch off the consumer’s receptors to a product or service.
In the coming months and years, a lot will be learned by the public’s responsiveness to the new Internet namespace. The companies involved in introducing hundreds of new brands that closely match niche markets with an untapped potential, are investing long term.
This is not a game of public polls – it’s a matter of innovation versus stagnation. It’s the new, progressive, upbeat, cool and shiny product, versus the old, antiquated, mundane, and rusty relic that refuses to give up its space.
It’s time to change strings as the old tune is losing its appeal quite fast.
Just came from donating in a Toys for Tots drop box. Marines had been there to pick up and store owner said
a) the box was empty (that’s right empty)
b) The Marine rep said that this was not an uncommon theme for them this year.
My point re this discussion.
What consumers do will depend largely on what they are capable of doing and financially thanks to the last 5 year recession.
The success failure of GTLD brands may be more a victim of timing than choice of extension IMO. SAD but true we are NOT out of the woods yet so when making predictions be sure to add a dose of reality.
As a trademark lawyer I find it very ironic – if not comical – that the pro gTLD crowd raves about this rollout as “innovative” and “revolutionary” – but out of the other side of their mouth they think that investors in future technology dot-coms are all “nuts.”
You want to know what’s really ‘revolutionary’ and a ‘paradigm game-changer’ – spend a few minutes learning something about nanomaterials, like Graphene (http://vimeo.com/51873011 ), or about the field of Printed Electronics (http://www.youtube.com/watch?v=wycwYcigqo0 ).
And if you have already read up on them, and aren’t doing anything about them from an investment standpoint, you’re about 5 years behind the curve. THESE are areas that are going to cause massive societal dislocation – so you can either jump atop these industry-leveling bulldozers, or get run over by them.
gTLDs are non-events…they’re just an excuse to upsell services like email, cloud storage, etc. No one cares about them except their evangelists.
Budgeting is also essential for commercial survival. This includes not wasting money on stuff you don’t need.
Brad
Scott – The economy isn’t booming but your buyer won’t be orphan kids. Consumerism drives a capitalist economy; check out the latest sales numbers of gadgets such as cellphones, tablets etc.
Gene – As a lawyer you should know better not to make blanket statements. This post is about brands and opportunities to better match products and online addresses, including an expansion of everyone’s options. It’s not about what’s hot in the innovation world. Innovation happens at several levels, this article is about brands and domains. As a trademark attorney, you should probably be thrilled that you will get more clients through this expansion, surely.
Brad – I fully agree. An example would be overpriced domains in existing TLDs. In the future, the domain itself will become less relevant than the product or the brand. That’s what this is about.