Innovation is the ability to change the course of the future. But is it a good or bad thing? Can too much innovation put extra pressure on a business?
At Law Print, we think that every company should aspire to be a leader in innovation. But in the time we’ve been in business, we’ve seen both the upsides and downsides of innovation within industries.
However, innovation positively impacts company culture as it increases the ability to acquire, create, and make the best use of your staff’s competencies, skills and knowledge.
Innovation practices can help, within your business, to build a culture of continuous learning, growth and personal development.
There isn’t anything new without it, and without anything new, there will be no progress. There is a lot more to innovation than just industries looking to achieve a competitive advantage.
In packaging, innovation happens when an end-user requires something more from their product. For example, pet food packaging has seen an overhaul during the last 10 to 15 years.
Customers wanted resealable options such as Front Pocket or Aplix® zippers so that they could keep their food fresher for longer. So innovative brands saw this opportunity and created resealable bags, which are now the standard for most products.
What is product innovation?
Product innovation creates a solution and helps to solve a problem a high number of consumers have.
There may be no products on the market that address a customer’s issue, such as food waste or recyclability, or there may be other products already on the market that address it differently.
To be able to say that your product or solution is innovative, you should be able to answer “yes” to the following questions:
- Is the product relevant to a significant number of your consumers?
- Is the product better than its competitors? What’s the reason for this?
- Is it easy to explain to consumers why this product is necessary or better than its predecessors and competitors?
Innovation is the core reason for modern existence. Although innovation can have some undesirable consequences, change is inevitable, and in most cases, it creates positive change.
One of the significant benefits of it is its contribution to economic growth.
Simply put, innovation can lead to higher productivity from staff and businesses, meaning that the same input generates a greater output.
As productivity rises, more options and products are produced – in other words, the economy gets more prominent, which is even more critical during these unprecedented times.
Why new product innovation matters
Product innovation is a challenge no matter what industry you’re in. It can be a rough road, but the benefits are abundant once you’ve found something unique to focus on.
In a fast-moving world where brands no longer dominate the conversation and consumers now hold enormous sway, innovation matters because it’s the common language you and your customers still speak.
Innovation may happen when you improve an existing product or add a new feature to a current product.
Overall, innovation can be both good and bad. As a result, businesses need to weigh up whether they want to spend the time and money to innovate and wish to risk their reputation if it all goes wrong.
Packaging is a demanding industry to innovate in, but more and more materials, features, and other options will come available with time.
Law Print has always been at the forefront of innovations, not only by adapting to specific customer requirements quickly but also by proposing and developing new packaging solutions to industries before the mass market demand actually explodes. Speak to our sales team to find out and see how we can support your business stepping up or just moving in the right direction!
If your brand wants to invest in quality packaging, we will guide you through the entire print process. In addition, we are providing recommendations along the way to improve efficiency, reduce costs and add untold value to the end product.
Contact us on +44 (0) 161 440 7302 or follow this link to complete our contact form.