11 Jun, 2024
MarketBlast solves the tiring problem facing manufacturers, distributors & retailers; How to Efficiently Manage Product & Innovation Submissions / Inquiries.
PITTSBURGH, PA, USA — A new platform is changing the way innovative companies are managing product submissions from the outside. The MarketBlast review management platform provides an automated solution, scalable to any size company, for receiving, reviewing, and managing product, brand, and innovation submissions from anywhere in the world.
For decades, research studies have shown that consumer-innovators, [consumers who take it upon themselves to develop product innovation that solves problems in their everyday lives], are responsible for massive amounts of product innovation in the United States, spending upwards of 30+% of what commercial enterprises spend on consumer product R&D. Consumer innovation in the United Kingdom nearly triples this number. This reality is a major driver for why new product and brand startups, entrepreneurs, and innovators have been flooding the market for years, driving high volumes of inquiries directly to established companies for the purpose of pitching them on partnership, licensing and/or distribution opportunities.
In a post-Covid world, as product centric companies emerge from supply-chain and operational challenges, many are now looking ahead for new product growth opportunities from outside their own walls and eco-systems. Discovering new products, innovation and brands, or adding to existing lines is once again becoming a strategic imperative for so many companies. This has resulted in the need for a more efficient way to manage the flow of product opportunities to these companies.
MarketBlast’s solution enables companies to quickly and easily set up and structure their internal review process, which can be managed by a single individual or an entire team. With all outside submissions filtering into a company’s private management system, team members can review, respond, and manage submissions instantly without leaving the platform.
Further, the platform also offers companies who are actively searching for new products an easy way to discover and drive product opportunities directly back to their internal team for review. This functionality comes in the form of a product hunt and listing on the MarketBlast platform and is available to all companies upon request and approval.
Organizations of all sizes are leveraging the value of the MarketBlast platform such as RX Global Exhibitions, a global trade show company with 400 events in 22 countries across 42 industry sectors. “We’re working with MarketBlast on various shows to help our emerging brands/inventor areas to discover products and manage submissions, ensuring the most relevant and innovative products are being exhibited in those areas of the shows,” said Allison Honkofsky, NHS Sales Director.
Allstar Innovations, a global product company producing well-known brands for over 30 years was an early adopter of the platform. “The MarketBlast platform has made an overwhelming task completely manageable, and even enjoyable. Instead of dealing with a constant influx of emails and calls from suppliers and innovators, we are reviewing and managing the submissions directly within the platform. It has saved us so much time and really changed the way we operate,” said Allstar’s Senior VP of Merchandising, Trish Dowling.
To learn more about how MarketBlast can help your company set up and manage a product submission and review process, request a demo (click here) or email us at info@marketblast.com.
About MarketBlast
MarketBlast is a product submission and hunt platform that automates the submission review and management process for companies in search of the latest technology and product innovations in their industries. The platform also provides an easy and convenient way for innovators, product developers and suppliers to submit innovation directly to companies actively hunting for new products. To learn more, visit www.marketblast.com.