the new hr

Factoring in customer insights will sure enhance the value quotient of product design
and strategy.
Dr Rangapriya Kannan-Narasimhan, University of San
Diego and Dr N G Kannan, Former Director (Marketing),
Indian Oil Corporation
Innovation
Dilemmas
Co-creation
mantra
A
study presented by Forrester
Research at the recent
CMO+CIO Summit in
Mumbai suggested that
improving customer
experience is a top priority
for 71% of Indian businesses.
Although most organisations had some sort of
market intelligence system for understanding
and mapping the minds of customers, none of
them earned an ‘excellent’ rating in the customer
experience ranking. The survey showed that
9% of organisations fell in the ‘good’ category,
60% struggled to deliver mediocre customer
experience, 28% fell in the ‘poor’ category, and 3%
in the ‘very poor’ category. It ranked the quality
of the customer experience by assessing three key
dimensions: effectiveness, ease, and emotion. The
question that arises for Indian businesses is how
to design innovative products and services that
enhance customer experience?
Companies are under mounting pressure to
continuously innovate and introduce new products
and services with faster ‘time-to-market’ metrics.
Consumers expect the next thing to be the next
‘big’ thing, and when the product or service does
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