Customer Centric Innovation: Healthcare Essay

965 words - 4 pages

History of Customer-Centric Innovation
CCI for many companies is an adaption of their current innovation strategy to increase the involvement of the consumer. This adaptability allows CCI to be used in many different industries. One organization that uses CCI is Proctor and Gamble (P&G) (Crosby & Johnson, 2006). P&G has avenues for the consumer to utilize which allows the consumer the opportunity to create and contribute to the organizations innovation strategy. This strategy has worked for P&G as they were named in the top 10 of innovative organizations in 2014 (Procter & Gamble, 2014). This has proven that CCI can be a very influential and successful innovation process. If the consumer is ...view middle of the document...

For the healthcare field this is very important as the healthcare systems cost are skyrocketing, and need to be fixed. If they are able to tap into the consumers they can help reduce costs by knowing what the consumers need, and how they expect to receive them. They can create a more efficient healthcare system reducing overall cost and creating a healthier industry that is more sustainable.
Conception of Customer-Centric Innovation
For Deloitte the concept of customer-centric innovation was developed to fit the current economy (Conroy, Ash, & Kutyla, 2009). The economy has created a need to cut back funding of research and development (R&D) departments. With the financial cutbacks, and the reassignment of R&D employees it was determined that a customer-centric innovation process would allow innovation on a stricter budget. It is the successful companies that will be able to leverage consumer insights to create nationally known brands that are worth their price (Conroy, Ash, & Kutyla, 2009). CCI is the key to this success. An organization can capture the consumer’s imagination to provide experiences and present solutions to their previously unmet needs (Conroy, Ash, & Kutyla, 2009). This is only one organizations use of customer-centric innovation, this is not a new concept, but due to the current challenging economy it has become a viable option for many organizations that have had to cut back on funds for the innovation process.
This has been the case for many organizations. For Alcan, a pharmaceutical company, they have adapted their value innovation process to become more consumer-centric (Goodrich & Aiman-Smith, 2007). They have created this change to create better products for their consumers. They believed that the consumers will have ideas that will help the organization become more innovative with their products (Goodrich & Aiman-Smith, 2007). This strategy helps to understand what the primary need is and that it is the customer...

Find Another Essay On Customer Centric Innovation: Healthcare

Customer Relationship Management Essay

1084 words - 5 pages reports. Interacting with customers frequently is a very important part of a business and by having a customer relationship management program in place supports that and makes this possible. CRM makes it easier for businesses manage a large supply of customer information and supports customer loyalty. The editors of CRM Magazine also point out, “Once thought of as a type of software, CRM has evolved into a customer-centric philosophy that must permeate

Amazon Business Process Essay

790 words - 4 pages , Amazon does a fantastic job making their business process to be easy and efficient for both the customers and for internal affairs. II. Innovation Strategy Amazon’s innovation strategy is heavily influenced by their vision, which is “Our vision is to be earth's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.” It is clear from the many interviews and articles: Bezos

Using Analysitcal Tools to Improve Business Sustainability

1432 words - 6 pages desired results (Davenport, 2009). References: Davenport, T. H. (2009) Analytics at Work: Smarter Decisions, Better Results Make Better Decisions Harvard Business Review By: Harvard Business Press (2010) MacMillan, I. C.; Selden, L. (2006) Manage Customer-Centric Innovation-Systematically Harvard Business Review By: Harvard Business Press Wurtzel, A. C. (2012) What Circuit City Learned about Valuing Employees Harvard Business Review By

Canon CRM

1033 words - 4 pages products to them and increase the profitability of organizationsThirdly, CRM increases the satisfaction of customer to gain the customer loyalty and retention. As mentioned before, retaining an existing customer is more profitable than acquiring a new one. Similarly, finding a new customer is more expensive than retaining an existing customer.Fourthly, CRM can change organizational environment and create the atmosphere of innovation. Because CRM

Collaboration and Co-creation: An Investigation of a New Product Development Process

2103 words - 8 pages have created a shift in doing business, the traditional business centric where firms create value and deliver to the customer is being challenged. The firm-centric view regards value creation happening inside the firm, ascribing both firm and customer distinct roles as producer and consumer and focusing on “targeting and managing the ‘right’ customer” (Prahalad & Ramaswamy, 2004, p.6). With the development of Internet technology, namely the

TQM Survey Paper

1758 words - 7 pages important key requirement is that innovation must be a customer centric and be able to fit into perception of good customer quality. Motorola should integrate both customer requirement and technological feasibility. The outcome would depend on what processes the company implements in order to make all employees customer centric. All the processes must be in place in order for Motorola to maintain its position in the market place.The Importance of

Strategy Memo

662 words - 3 pages Erie88 | Matei Birladeanu, Linda Du, Haley Kurylo, Scott Oakes, Victoria Wright | CAPSIM Strategy Meme#1Erie88's CAPSIM Strategy Memo #1Vision StatementWe aspire to be an industry leader. With innovation in our DNA, we strive to gain 50% plus of the market share in both high and low tech sectors by manufacturing cost-effective low tech products and by creating cutting-edge high tech products. Our customer centric approach in positioning products

Organic Growth

2994 words - 12 pages other business operators. The success of consumer-centric strategy is one of the key factors that make SYSCO become the leader of foodservice industry.Like SYSCO Corporation, UPS is also having a customer-centric strategy. The company has the capability to provide a preferred standard of service to any customer, anywhere in the world. UPS has directly connection (both physically and electronically) to virtually every business and home in America and

Johnson & Johnson's Six Dimensions

872 words - 4 pages ). What can you glean from this website as it relates to Johnson & Johnson’s ability to innovate? The video reveals that Johnson & Johnson is “collection of companies around the world covering a variety of industries providing a variety of products” (Jakubowicz, 2009). Therefore, the company does not take their skill to innovation as happenstance. Innovation is the livelihood to their success competing in healthcare (Jakubowicz, 2009). How do these

The Role of Educational Institutions in New Business Trends

1163 words - 5 pages information, knowledge, and competence combined with technology, which focuses on the customer (customer centric) (Johannessen & Olsen, 2010). Meanwhile, the new business strategy would require certain personal talents as a leadership to use those elements to perform corporate tasks. Consider the elements of the new business trends that function as the business process, which identifies talents in using an individual’s knowledge, skills, and

The Role of Educational Institutions in New Business Trends

1158 words - 5 pages requires the use of these elements for achieving results, such as information, knowledge, and competence combined with technology, which focuses on the customer (customer centric) (Johannessen & Olsen, 2010). Meanwhile, the new business strategy would require certain personal talents as a leadership to use those elements to perform corporate tasks. Consider the elements of the new business trends that function as the business process, which

Similar Essays

It Stratergy Review

964 words - 4 pages ). Company operated in brick and mortar model for long time even expanding to close to 2000 stores across the nation. In 1999, company launched its internet presence with walgreens.com which offered its customer secure and convenient way to take care of pharmaceutical and healthcare needs (Walgreens 2014). The company’s site also provides Mayo Clinic Health Information, a reliable online resource for health related queries. Walgreens planed IT

Marketing Management Bose Corporation Essay

3558 words - 14 pages focus on creating a good customer experience (Hurst 2004). The purpose of customer-centric is to provide excellent customer service, build brand loyalty, and maximize profitability. In Bose Corporation, they never stress continuous learning about customers and the market, but focuses on products innovation itself. And also there is no trend shows that Bose focuses on creating a good customer experience. In addition, Bose does not emphasize on

Starbucks: Delivering Customer Service Essay

858 words - 3 pages product innovation to drive sales and growth and the financial numbers reflect this growth. But recent market research showed that customer service, on which Starbucks prided itself, was perceived as unsatisfactory. Customers viewed Starbucks as a corporate giant focused on making money and growing in size. It showed that using customer snapshot scores to measure service performance was proving ineffective. This was a cause of concern for senior

Business: What´S Co Creation? Essay

1054 words - 5 pages -creation activities in each firm’s function, which are co-creating product development, co-creating production, co-creating marketing and sales and, co-creating across functions. In term of product development, the firm perform the innovation new product development process which is involving ideation, design and development. The customer position will be split into the ideation phase, which uses the customers as an information resource, the design and