Innovation Inspiration : Innovation - The new normal
28 Mar 2012|Added Value
In last month’s edition, we talked about how corporations in a post-crisis world are waking up to an operating environment that has changed forever. This month we go deeper into some of those themes: what it takes to succeed in China and India; how to influence responsible consumer behavior; using social media to reduce customer acquisition costs; ways to re-design your organization to respond to faster innovation cycles; and identifying the best balance between central and local Marketing in an increasingly global environment.
China’s consumer transformation
In the findings of their latest annual survey of Chinese consumers, McKinsey concludes that evolving demographics and new spending patterns will continue to be the driving factors that shape the market.
Read about it here: Meet the Chinese consumer of 2020
Stephen Roach from Yale, and former nonexecutive chairman of Morgan Stanley Asia, argues that policy changes designed to encourage domestic spending in China “will create a consumption dynamic that will outstrip the growth of any consumer market in the world.”
Watch what he has to say here: The consumer opportunity in China
Learning how to win in India
In some product caregories, India could represent more than 20% of worldwide revenue growth over the next decade. While many companies are achieving growth rates that are enviable to colleagues elsewhere in the world, they lag the competition in India. Why? Because they have taken global business models and practices and simply transferred them, as opposed to doing business the Indian way: “It’s a lesson many companies have already learned in China.”
How multinationals can win in India
Designing responsible product solutions around emotional decision-making
Understanding the role of emotion in decision-making shows that you can give people all the facts, and maybe alter their attitude toward something, but you won’t necessarily change behavior. The emerging field of ‘persuasive design’ sees its role as changing consumer behavior, and in this Fast Company article, Rob Girling talks about how to openly influence people to make responsible choices.
Design’s next frontier: nudging consumers into better life choices
Driving word of mouth through social (and other) media
Forget ROI, think Return on Experience. Forget even customer experience, think customer enchantment. Because that’s what will drive extraordinary word of mouth, in turn dramatically reducing customer acquisition costs. Read David Johnson’s controversial blog and the posts it sparked.
Forget about ROI, start thinking about ‘ROE’
Creating a company that anticipates customers’ needs
According to a Temkin Group survey, just 3 percent of North American companies are truly “customer-centric,” while 33 percent are “customer oblivious.” What separates the 3 percent? According to Accenture, it’s about designing the operating model around customer insight-based strategy.
How to make your company think like a customer
Designing the new-world CPG company
As CPGs have entered the new growth markets with new brands and distribution networks, the global-local tension in Marketing has become a red-hot issue. What conclusions does McKinsey draw from its analysis of over 40 leading companies? Read on…
Designing a winning consumer goods organization
The hidden talents of everyday things
According to Kelli Anderson in her TED talk in Phoenix, “the world is full of order that doesn’t necessarily deserve our respect’” By tinkering with the basic elements of everyday experience, we can create, “disruptive wonder.”
Have a listen: Design to challenge reality
Social media for dummies
And for those of us who are still playing catch-up in the social media space, this explanation should help…
Social media explained
To coincide with Sustainable Development Week in France in April, we’ll be holding a webinar on Tuesday 24th April, focusing on the Silent Green Revolution in the Beauty & Hygiene sector.
To attend it contact Marina Cozzika and to receive invitations for upcoming webinars update your profile to include ‘Events & Webinars’.
If you’d like to discuss how Added Value can help you identify opportunities and create paths to future growth, we’d be delighted to hear from you.
Written by Jonathan Hall, CEO Cheskin Added Valueprev next