Customer-centric innovation is product innovation, with the customer being at the heart of the process. To know more details, visit us at : https://mitidinnovation.com/recreation/customer-centric-innovation-in-business/

1. Customer-Centric
Innovation in Business
MITID Innovation

2. A product is introduced in the market
when an organization assesses a gap
between the needs of the consumer and
the market that they can fill. Although
businesses want to get the maximum
profit from these products or services, the
primary focus remains on providing goods
or services to meet the customer’s
demands and resolve their issues.

3. Customer-centric innovation is product
innovation, with the customer being at the
heart of the process. In this approach of
business innovation, the focus is given to
customer needs, satisfaction and
feedback. A customer-centric
innovation would imply that the
organization will actively work to create
better products for its consumer base
based on the following questions:
What is Customer-Centric Innovation?

4. • What do customers like about our
product?
• What can we do better?
• What is an unnecessary or not
updated feature you would
recommend about our product?

5. What do customers like about our product?
What can we do better?
What is an unnecessary or not updated
feature you would recommend about our
product?
How to Create Customer-Centric
Innovation

6. The organization’s Customer Research &
Development team must identify core customer
sections and develop mutually beneficial value
propositions reflecting the complete customer
experience, including products, services, and
any form of interaction with the company. The
team needs to focus on customer subgroups or
subsections to narrow the gap between
customers’ desires and the product or services
Establish A Deep Relationship With
Core Customer

7. Customer Centric innovation can boost
profits in virtually every business that
deals with direct sales access to large
numbers of customers.
Let us look at two examples of customer-
centric innovation helping the business
grow:
Why is Customer-Centric Innovation
Necessary for Business?

8. Buffer: Buffer keeps their audience in the
loop with what’s happening behind the
curtain. They were hacked in 2013, and
instead of trying to hide it and quietly patch
the damage. They openly accepted the
issue and shared how they planned to fix it.
Customers appreciated their transparency
which further cemented their reputation as
a customer-centric company.

9. 3M: 3M is a company that has been
associated with innovative products to
solve a specific customer problem. 3M
has opened Innovation Centres where
customers can visit, explore new ways of
thinking, collaborate on designs, and test
new products.

10. Customer-Centric innovation benefits financial
services firms, hotels, consumer goods to
manufacturing firms. We believe that
innovation is not only limited to product
innovation but extends to the individual’s
capability to connect with their ecosystem. MIT
ID Innovation offers courses in innovation that
focus on upskilling future leaders.
How do MIT ID Innovation Courses
Promote Innovation Designs and
Service

11. MIT ID Innovation Programme curates
knowledge and experiences that
challenge the very paradigm of evolution.
And that's why we have set out to define
the future of industries, communities,
cities and ecosystems. MIT ID Innovation
offers the best Innovation Courses in
India.
Conclusion

12. We’d love to
hear
from you.
MIT INSTITUTE OF DESIGN
Rajbaug,, Loni-Kalbhor, Pune-412201
innovation@mitid.edu.in
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