Quiz 1: What Is Cb and Why Should I Care

Business

In order to be innovative, the most important factor an organization has to focus on is consumer behavior and consumer experience. An organization focuses on its inventions, so that the innovative product designs would maximize the consumer experience. The firm ID-O is famous for its innovative designs and its product development strategies. It serves the small, medium, and large capitalized organization by taking up projects concerned with product innovation and design. ID-O is completely focused on consumer experience. It has a product innovation and design team, which always try to think from the consumer's perspective. ID-O gets its inspiration for its product design from inventor Thomas Alva Edison's observation which states that " genius is 1% inspiration and 99% perspiration ". This observation of Edison drives the entire product development process of the firm. For the designing of a new product, the company turns to its Deep-drive idea generation method. Using this idea-generation method, they totally immerse themselves in the customer experience and try to emphasize with the consumer to maximize the consumer experience. The firm believes in prototyping the tasks, thinking from the consumer's point of view and innovating across industry inspires ID-O in patterns of thinking and operating. The firm has adapted the human-centered designing through which they look at things from the consumer's point of view.

In order to be innovative, the most important factor an organization has to focus on is customer or consumer behavior. A company focuses on its inventions, so that the innovative product design would develop the business. Considering an example, firm named ID-O is famous for its innovative designs. It serves the small, medium, and large capitalized organization by taking up projects regarding product innovation and design. The organization ID-O is completely focused on customer experience rather than the usage of the product. ID-O has a product innovation and design team, which always try to think from the consumer's perspective. In general, value is the additional advantage that a customer gets using a particular product. It is difficult to say what is the most that matters a customer, as the perception differs from customer to customer. Basically the values that a successful product delivers are as follows: • Fulfilling the needs of the customer: The product purpose in to fulfill the wants and desires of the customer. • The unique features of the product: The unique features that enhance the efficiency and usage ability of the product • Enhancement of status: The innovative products are always a sign of status for the customers. The value is either what a customer gets from the usage of a particular product, or what they give to obtain the product. Customers always see benefits such as, quality, convenience, experience, etc. On the other end they give their valuable time, money, the opportunity to have other products, etc. All these concepts are described under utilitarian and hedonic value of the product. Utilitarian describes about the problems being solved with the usage of a particular product. On the other end hedonic value is the experience which the customers get after the usage of a particular product.

In order to be innovative, the most important factor an organization has to focus on is customer or consumer behavior. A company focuses on its inventions, so that the innovative product design would develop the business. Considering an example, firm named ID-O is famous for its innovative designs. It serves the small, medium, and large capitalized organization by taking up projects regarding product innovation and design. The organization ID-O is completely focused on customer experience rather than the usage of the product. ID-O has a product innovation and design team, which always try to think from the consumer's perspective. Customers buy the product to get rid of their wants and desires. Customer behavior is dynamic, as they not only try to fulfill their needs, but also focus on additional value of the product. This is the only reason why having a product that simply works does not always get acceptance from the customers. In general, value is the additional advantage that a customer gets using a particular product. It is difficult to say what is the most that matters a customer, as the perception differs from customer to customer. Basically the values that a customer expects from a particular product are as follows: • Fulfilling the needs of the customer: The product purpose in to fulfill the wants and desires of the customer. • The unique features of the product: The unique features that enhance the efficiency and usage ability of the product • Enhancement of status: The innovative products are always a sign of status for the customers. A product is accepted by the customer when it is made by the customer, i.e. the product consists of all the features and facilities expected. Here, ID-O was analyzing the wants and needs of the clients, before developing the product that meets their expectations. So, ID-O has a good growth and sustainable strategy dealing with their clients. `