In general, innovation can explain as the development of new products or improvement of original goods which can fulfill more consumer needs.( Carol Stephenson, O.C.,2011) The adoption of an innovation can increase the market share because of responding to more customers’ needs and also can establish a new market as the product range is expanded. Thus, it is important that more consumer perceive the new product, service or idea. Reselling the existing customers is one of the method to let more people realize the innovation.
Reselling the existing customers can benefit a lot. In the process of reselling them, it can enhance the bond between the company and the customers and build up the relationship. So that it can build the customer loyalty and product loyalty to maintain and increase the business market and profit. (Frederick Reichheld,1996) When there is the adoption of an innovation, the company can introduce the new product to their existing customers by posting or email the purchase card or free sample. It can make the existing customers to perceive the new product and get an opportunity to gain the business. Also, the existing customers may share this good product experience to their friends or family so that more people may know this new product and it may bring in more business in this referral.
1.“THE TRUE MEANING OF INNOVATION” by Carol Stephenson, O.C.(2011), Dean,,Richard Ivey School of Business. 2.Frederick Reichheld, The Loyalty Effect (Harvard Business School Press, 1996) 3.Donna Fenn, “Upstarts! How Gen Y Entrepreneurs are Rocking the World of Business and 8 Ways You Can Profit From Their Success” (McGraw-Hill, 2009)