Sometimes old fashioned wisdom is like that of a much sort after pearl. It comes from chafing and discontent. But leads to a thing of beauty. Please enjoy this little pearl.
There are many business words that get over used. One of them with great popularity at the moment is innovation. Another is disruption.
Innovation is the process of innovating or a new method idea or product. At the moment disruptive innovation is a buzz word, think Uber think Wikipedia, CDs and maybe iPhone(smartphone).
Innovation comes in many guises from research and development, product development, process improvement and systems refinement. But if these forget the the end point in mind – Your Customer and their needs. Then business success is not guaranteed.
The article below discuss’s the aspects of value and provides a wonderful value pyramid, displaying customers needs. For those in food , quality & sensory are basic needs but trending in importance in food is wellness and therapeutic effect.
The level of wellness and therapeutic affect in terms of customers needs has been cleverly captured in the very good article in HBR. The iPhone and Samsung Galaxy phone may not have yet created self transcendence for customers but they have certainly reached the level of customers feeling affiliation and belonging to ‘their group’.