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Product Innovation Isn’t About Data Collection, But Analysis Of A Brand’s “Mission”

November 3, 2016: 12:00 AM EST
Clayton Christensen’s book “Competing Against Luck: The Story of Innovation and Customer Choice” criticizes a prevailing mindset in product innovation that relies on over-segmentation of markets, and accumulation of scads of data at the expense of theoretical models. Innovation, he argues, should not be “hit-or-miss” and incremental. It should be guided by purpose and “a clear vision of a job to be done” in the real world. It should be based on a thorough analysis of what the customer is “hiring” the product to do. The mountains of retrospective data do nothing to help companies come up with an innovative breakthrough -- a new idea of a brand’s mission in the real world that ensures long-term, sustainable growth.
"Why Marketers Often Miss the Mark in Product Innovations", Article, Knowledge@Wharton, November 03, 2016, © Wharton School of the University of Pennsylvania
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