Too frequently, amazing products fail because customers usually do not understand the value that they create. Although we currently have ample insight into how customers assess new products, many companies focus mainly on creating value -- without enough regard to customers understand innovations and assess new products. There are only two ways information can be collected by consumers, the author notes: They can hunt, or they are able to infer. Understanding when consumers will search or infer will help you discover which of your inventions customers will understand.
Why Great New Products Fail Case Study Solution
The Internet has had a deep impact on the way many products are evaluated by customers. The Internet has expanded what is searchable by including customer reviews in addition to product characteristics on standard spec sheets. The writer advocates focusing on three questions: Are customers stimulated to search to ensure that customers will recognize the value your products offer? Are they able to search effectively?
PUBLICATION DATE: August 25, 2009 PRODUCT #: 410023-HCB-ENG
This is just an excerpt. This case is about ORGANIZATIONAL DEVELOPMENT
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