Thursday 7 May 2020

Can the Idea behind a Product be More Valuable than the Product?

In this era of intense competition, innovation plays a key role in any organization’s growth and success. When a company innovates, InventHelp Products it actually invents two things: the product itself and the set of ideas behind it.

New products consist of new ideas, and product value actually resides in these ideas. Unfortunately, most companies fail to exploit their own innovations. Let’s look at several points on the importance of ideas.

The value of a product concept may be bigger than the product itself.
There is something interesting about the Facebook controversy between the Winklevoss twins and Mark Zuckerberg that most people may have missed. The twins may have created the interface for students to interact with one another, but it was Zuckerberg who turned that idea into a global social network. In this case, the value of the interface created by the Winklevoss twins was less than that of the idea behind it. Mark Zuckerberg took the same idea and created history.

1 comment:

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