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Trade Routes: Where What Isn’t Will be Found
By: Michael Wynne
Posted: August 29, 2008, from the February 2007 issue of GCI Magazine.
page 4 of 5
The makeup challenges of movies and television programs led to the invention and discovery of new approaches and products. Scientific discoveries brought new and often revolutionary ingredients to the industry, stimulating the development of even more new products. Technological advances created new applications for previously unsatisfied needs.
Are you beginning to see a pattern here? There is room for even more innovation in every area as suppliers focus on narrower groups of customers with special needs. Genetic science will open yet unimagined doors for new products and services. Laser technology still has a lot to offer. Nanotechnology will make it possible to explore the inner surfaces of skin and travel through the circulatory system to any one point in the body and deliver concentrated chemicals and drugs in very limited areas. Most companies are overfocused on the present and the past, and give the future only fleeting consideration. Yet the past and the present cannot be changed, but the future is wide open and filled with opportunities waiting to be developed.
Be aware, however, that high-tech is increasingly becoming the road to innovation.
Neil Macglip, director of research at Procter & Gamble’s U.K. facility, states, “Being high-tech is the only way to satisfy customer needs while simultaneously meeting the demands of human and environmental safety, price performance, novelty and noninfringement of competitors’ patents.”
I don’t think that high-tech is the only way, but I agree that these are the challenges facing innovation in today’s cosmetic markets.