Customer Centricity

In: Creativity, Customer Centricity, Innovation

Cultural Innovation is not just about building a better mousetrap, rather it is driven by deeply connecting customers with a brands ideology, which in turn has transformed the the value proposition and reinvented the category. Why is innovation so hard? Why do companies who have have incredibly talented teams struggle to innovate and create a sustainable innovative new product? This article explores the challenges with large corporate innovation. Procter & Gamble a company renowned for driving what it refers to as ‘constructive disruption’ has designed a process that aligns closely to a startup with venture funding, support from tech entrepreneurs and a lean probe and learn prototyping process. But even with this best in class approach to corporate innovation the process is not exactly delivering huge results – the most recent P&G offering was a ‘Smart Pampers Diaper’ (nappy) that signals a change is needed! “Build a better mousetrap, andContinue Reading

In: Customer Centricity, Innovation, Transformation

Synopsis of an article from Knowledge@Wharton by Peter Fader published 27th July 2020 This article adapted from an updated book ‘Customer Centricity’ by Peter Frader, which was first published in 2011 and the book has recently been updated. In 2011 Fader wrote about Starbucks that they made no effort to learn about their customers or to understand their buying habits. This year he has updated the book to look how they have transformed to become data driven on customer centricity. Fader refers to how Starbucks built a Facebook community, not for their product but for ‘Leaf Rakers’. The Leaf Raker’s society a secret or private group that purports to be obsessed with autumn, which is also when Starbucks puts its popular pumpkin spice latte on the menu each year. “Facebook, as we know for better and worse, is a treasure trove of personal data — but also, and perhaps moreContinue Reading