Expectation economy and trend driven innovation Flashcards
What is a consumer trend
a consumer trend is a new manifestation among people in behavior, attitude or expectations of a fundamental need want or desire
Whats the difference between customer centered innovation and customer led innovation
customer centered innovation
Drive the customers in a deeply empathethic understanding of their needs and wants. Grant an organization the freedom to make the unexpected and unasked for leads that will lead to long term sucess
customer-led innovation
only follows customers needs and wants (avoid). Reactive and too self consciously explicit about putting the customer first
in order to do an effective value proposition, you need to understand
customer gains, customer pains and customer jobs
when generating future focused insights it is smarter to look to businesses first and customers second because
customers expectations are frequently raised without them having even personally experienced the best
what is the central theme of the expectation economy
what are the 3 strands of customer expectation in the expectation economy
rising quality, positive impact and personal expression ??
what is challenging for businesses in the expecation economy
what are the 3 fundamental elements that drive trend driven innovation
basic needs, drivers of change and customer expectations ?
what is the key ingredient of trend driven innovation
tension created by the interaction of the three elements, innovations, drivers of change and basic needs
what are shifts in the context of trends
long term macro changes shaping consumer trends
when generating future focused insights, it is smarter to look to businesses first and customers second because
?
buyer value is enhanced in value innovation by offering elements in the industry that has never been provided
true or false
