Developing innovative products involves a structured approach:
1. Market Research: Understanding consumer needs and market trends to identify gaps and opportunities. 2. Ideation: Generating creative ideas through brainstorming sessions, competitive analysis, and customer feedback. 3. Prototyping: Creating initial versions of the product to test concepts and functionalities. 4. Testing and Iteration: Refining the product based on feedback and performance data. 5. Launch and Marketing: Introducing the product to the market with a strategic marketing plan to maximize reach and impact.