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Spot The Next Hot Trend
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Article 1: Be A Trend Spotter
Among the benefits of being on the leading edge of trends is that you have the opportunity to make your product or service synonymous with the trend. Notice how Xerox and iPod have all but become the generic terms for photocopying and hand-held portable music players.
Although there’s always some risk involved in becoming known not just for your own products, but for your competitors’ as well, the benefits are even greater.
Wouldn’t you like the name of your product or service on the lips of every person shopping for the type of thing you sell? Imagine over the years how many Xeroxes and iPods are sold simply because that’s what was asked for even though the buyer may not have had a brand preference.
Being an early trend spotter also can help you avoid being left behind when your industry veers down an unanticipated path.
Newspapers, once stalwarts of the information industry, today flounder because for too long they ignored the trends drawing readers and advertisers away, first to television, then to the Internet. Only a few visionaries within the industry noticed where the public’s appetite was leading and have managed to make the transition. The majority of the newspaper industry meanwhile withers under loss of subscribers and ad revenue.
Perhaps the greatest benefit to capitalizing on trends is that by definition, your product or service will be in demand. Describing a trend is just another way of describing what people want, whether it’s digital video recorders or sport utility vehicles.
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