Why innovation is a ratchet in terms of marketing

If every product was actually better better better the hyperbole would become too much!

  • The first step is innovation! An entirely new way of thinking!
  • The next step is new and improved. We’re 50% better than our last stuff or our competitor!
  • Then the next step of the cycle is cheaper. We’re cheaper than that other guy, buy us!

The ratchet then continues cheaper and cheaper until cycle goes back to a new premium innovation.

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