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October 22, 2019
The importance (and pace!) of innovation is growing every day. Companies are constantly pushed to innovate, to launch products faster, and to generate revenue quicker. However, innovation is challenging. It’s resource-intensive in terms of time and money, and a large percentage of new products end in failure. While that failure can be attributed to several reasons, a primary reason is a lack of customer-centricity.
October 8, 2019
Identifying opportunity is a crucial step in changing and growing your business. Your customers can help you grow, both through their actions and their feedback.Here’s what customer-centricity is in the simplest terms: It’s listening and learning. It’s leveraging information and knowledge about your customer for business action. Actions that put the customer first and delight them so they return and help spread your message. Customer-centricity is an organizational discipline, not an individual discipline.
July 10, 2019
On December 2-3, 1984 there was a gas leak at the Union Carbide plant in Bhopal, India that manufactured pesticides. This leak resulted in what is considered to be the world’s worst industrial accident. More than 500,000 people were exposed to methyl isocyanate (MIC) gas. The highly toxic substance made its way into and around the small towns located near the plant.
June 5, 2019
Market segmentation is the ability to identify high-opportunity customer groups within the marketplace, and distinguish them from marginally profitable customers. Segmentation is based on the premise that no market is homogeneous in terms of what consumers need or want from products and services. Market segmentation is becoming more popular as a method to develop business strategies because of the information and competitive advantage it provides.
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