There are millions of businesses that do not grow stagnant or go to continue selling exactly the same: the original with the coming to market and they believe they can not go farther, because he does not see greater scope for changes or improvements nor the need to look to create them.

But there are so many businesses that have discovered the secret of their success and growth in the continuing evolution of its products and original services to reach more and more people and places and not be left behind, but go together fashion and market trends.

Something like this is what Max McKeown says in his article “Reinventing the wheel” published in Management Issues. According to him, any product can reinvent itself many times and the real innovation is to do so following what is discovered in the lifestyles of people to enter a world of immense possibilities and profits.

McKeown said that “It is easy to think that something so simple that you can not improve. That is so unimportant, not earn any money perfecting it. That technology is so low that the intellect would be missing from just thinking about it. Which has a margin or volume so low that the company would never make a dollar, yen or euro. It’s easy to think that. But you’d be wrong. ”

The success of reinventing

People feel like they have something new or improved products and have always used change over time to adopt new technologies, being fashionable, offer more benefits and better meet the needs.

McKeown explains in his article, “Paying attention to the lifestyles of our customers, you can create unlimited variations of any product. Setting the details of a product to reflect new tastes and fashions can increase profit margins and follow the curve of popularity of the new trends. ”

And as evidence of what he argues, he cites several examples of huge companies that get huge profits and that continue to grow from the reinvention of its original products. One is Nike, which today earns 16 billion dollars annually from its continuous reinvention of shoes, sweatshirts and socks.

According to him, once Nike was organized around three product categories: shoes, clothing and equipment, and now focuses on sports, tribes and activities, so it has more than 13,000 different products because it creates special shoes for the cricket player India and others for lacrosse and more for the American athlete.

McKeown explains, “The reinvention of the sneaker is possible to meet the preferences of sports, nations, age groups, genders and individual fashion. The possibilities of extending endlessly reinventing advances in materials technology (what they are made) and the production technology (as do) “.
He states that “Every innovation involves reinvention.

Personalization

One of the opportunities that currently exist and that McKeown emphasizes the customization of products and services, for which he recommends that business owners ask what elements of their products could be adapted to the specific needs of different customers.

Because, as noted by the author, and there are several technologies which will greatly develop the customization of products and services in the future but right now there are companies that implement programs and products tailored to clients as Adidas, Nike, Reebok and Converse, which provide individualized services to measure the feet of people in the stores and make them come to your house to measure shoes for 20 days.

Finally, the important and the conclusion is that all products can reinvent itself as the problems and needs of people continue to occur and require ever more innovative solutions tailored to their lifestyles, their tastes and fashions. That’s why paying attention to customers can create new markets from the constant reinvention.

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