Chris Ward from Kenshoo also thought that speed was essential. The less procrastination involved the better. Otherwise, you risk missing out on changes in demand:

“Innovation is the only way ahead. For instance, Nokia got left behind in the smart phone race simply because they weren’t quick enough to identify the gap in the market and develop a product that would satisfy the need generated by their customers. Every company understands the need to innovate.

The answer to this question lies in how quickly they can foster a culture that thinks innovation and jump on the track!”
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