Substitute products refer to new products that adopt new technologies and materials, make major innovations on existing products and bring new benefits to users. For example, black-and-white TV sets are transformed into color TV sets, ordinary sewing machines are transformed into electric sewing machines, and portable thermos bottles are transformed into pneumatic thermos bottles. The latter are all new products.
Extended data:
Developing and upgrading products requires some capital and technical strength, but it is not as difficult as developing original new products. As long as ordinary enterprises have certain financial and technical conditions, the Ministry can engage in the activities of developing such new products. Although the economic value of developing a new generation of products is not as great as that of developing original new products (if successful), it will also bring better economic benefits to enterprises.
Moreover, this kind of new products have certain characteristics, which can be unique in the market, which is conducive to enhancing product competitiveness and building famous brands. For example, Japan Seiko, Citizen and other electronic watches (electronic watches are the replacement products of mechanical watches) are quite competitive in the international market.
Attention should be paid to developing new products: first of all, we should be good at discovering major defects of existing products, which is the premise of developing new products. Without this premise, it is impossible to develop a new generation of products, because enterprises do not know where to innovate existing products.
Only by discovering the main defects of existing products can we innovate and improve and develop a new generation of new products. If black and white TV sets are found to have major color defects, color TV sets will be innovated to greatly enhance the viewing effect of TV sets.