Product and service innovation

Matching products and services and a particular demand in foreign markets is a defining principle of export success. But exports also provide an opportunity to invest in innovative product forms that are in particular demand in foreign markets, which are often considered insignificant in domestic and local markets.
In this regard, reviewing the experience of the successful Japanese company Astec Paints is not without merit to know how effective an innovation in services can sometimes be.
The company has been producing a variety of acrylic paints and graphics since 1978. The company’s reputation is due to the production of high quality products that have been able to withstand the harsh weather conditions of regions such as Australia. These products mainly contained elastomeric coatings that contracted and expanded like rubber and did not break or bend.
This elastomeric feature of the products also gave the product a special ability to withstand severe earthquakes in Japan, which insured the sales and exports of the company’s products in addition to increasing growth.
In 2013, this seismic quality of the product became a means for the company’s products to receive special approval and performance certification from the Japanese government under a special building code, which paved the way for the significant development of the product’s exports; In a short time, the company’s turnover increased up to three times and the export market of 4 new countries was opened to the company.
What made this company successful was paying attention to a need and exploiting the idea of ​​optimizing and improving the quality of the product to meet that need.
We are trying to identify the strengths and weaknesses of businesses so that with their strengths we can bring them a special place around the world.