Marketing as a Think Tank for Technological Innovation

Research shows that even established market leaders have suffered severe setbacks to their competitive position because they were late in recognizing technological changes. A crucial factor in the success of a company is its ability to recognize future customer needs, changes to the business environment and technological developments early on and incorporate these insights into strategic planning.

Market scouting is the new buzzword here. Market scouting means no more and no less than managing the future: utilizing trends, forecasts and scenarios in the interests of a company’s success and thinking one step ahead of future markets.

Simply understanding a market is not enough, especially for sophisticated, complex products such as those in the investment and high-tech sectors. You also need sound technology scanning, monitoring and scouting to understand current market trends and predict future trends.

Integrating the results into the company’s overall strategy through strategic technology management unleashes the full power of new market potentials. Finally, the marketing department as “think tank” can contribute significant added value to the company’s business strategy and success. To read more about the market expertise of Digital Consulting Experts please visit

Edmund Hain