Market and Customer Insights

Focuses on understanding market trends, customer needs, and feedback for guiding innovation efforts.

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Voice of the Customer

VOC is a term originated by Toyota and aims to capture the customer’s needs and specifications. It can be collected through market research.

Voice of Customer

Discover and capture the needs of your customers through various feedback and data collection methods.

Values

The ethical concept that provides direction and motivation to individuals, and society as a whole, guiding behavior.

Valuable Insights

At the heart of every exceptional customer experience is a foundation built on genuine insights. By harnessing a deep understanding of customer preferences, emotions, and feedback, businesses can cultivate an experience that not only resonates with the audience but forms a lasting bond.

User Research

An aspect of service design to determine the needs of the service's user base.

User Feedback

Insights, information, or input from product or service users about their experiences, good or bad.

User Needs

The distinction between user needs and wants. The former being basic requirements that a user has when interacting with an application or any other service.

User Centric Innovation

User-centric innovation is an approach to problem-solving that starts with consumer needs and work backward towards a solution.

Unmet Customer Needs

Something customers deeply desire, but doesn't exist or they're not aware of as a solution

Unique Selling Proposition

The unique selling proposition or unique value proposition refers to a feature that makes a product or service truly unique and valuable.

Trust Transparency

Innovation involves risk. Trust transparency implies open and transparent communication that creates mutual trust in sustainable change.

Target Market

The group of people at whom your products or services are aimed.

Segmentation

Businesses use segmentation to understand potential customers and business operations. It’s the process of dividing potential customers into distinct groups, rather than treating...

Reward System

A reward system is essentially the method by which an organization or institution provides a specific incentive for a desired behavior.

Remote Work

Remote work is a working style that allows professionals to work outside of a traditional office environment.

Regulations

The rules and standards set up by a group of people to provide a blueprint for proper and acceptable actions and behavior in a space.

Product Feedback

Gaining feedback from your customers on your product benefits your product development and future offerings.

Potential Customers

Potential customers are those who have a need and can and will pay for a product or service.

Personalization

Personalization is the use of individuals’ behavior, profile, historical data, and stated preferences to influence the offers that they receive

Philosophy

The questioning of one's own beliefs and deliberating over those of others in pursuit of truth.

People Centric

A people-centric approach means that the employee is placed at the heart of the organization, always putting their needs first.

Pain Points

The specific problem that motivates the search for a new solution.

Organizational Agility

The ability of a company to successfully achieve optimal levels of operational effectiveness and efficiency.

Niche

A niche involves focusing your business on a segment of a market it can effectively reach and serve.

New Market

A product that is new to you + a market that is new to you/ your company.

Needs Assessment

Needs assessment is an exploration and documentation of the organization's current state and anticipated future requirements.

Marketplace

A marketplace is an e-commerce site where products or services from multiple parties are aggregated and sold to consumers.

Market Innovation

A marketing innovation is the implementation of a new marketing method involving significant changes in product design or packaging, product placement, product promotion or pricing.

Market Fit

The degree to which a good, service, or business model adequately meets the demand of a market audience.

Lead Users

Lead Users get into the market earlier than the rest of us, and they are critical for getting really good products and services.

Interview

An interview is a structured conversation where questions are asked to elicit information for assessment and decision-making purposes.

Integration

Integration: The process of combining systems, processes, or organizations to work more effectively as a unified whole.

Innovation Resources

Innovation Resources are the assets, talent, and capital designated for developing novel value-creating solutions.

Innovation Professionals

Innovation Professionals are experts skilled in creating and implementing novel solutions within organizations to drive growth and value.

Industry Innovation

Industry Innovation is the process of creating and applying new ideas to drive growth, efficiency, and competitive advantage within a sector.

Idea Validation

Idea validation is the process of testing a concept to assess its potential for success and feasibility in the market.

Frontline Employees

Frontline employees are workers directly interacting with customers, pivotal in driving operational success and gathering insights.

Focus Groups

Focus groups are moderated discussions with selected individuals to gain insights on products or services.

Excellence

Excellence: Persistent pursuit of high-quality outcomes in all actions and creations.

Equity

Equity: Ownership interest in a business, signifying a claim on assets and earnings.

End-Users

End-users are the final consumers who use the product or service in its intended environment.

Emerging Markets

Emerging markets are nations with economies progressing toward becoming advanced, characterized by rapid growth and industrialization.

Diversity

Diversity refers to the inclusion of varied identities, perspectives, and experiences in a group or organization.

Customer Segmentation

Customer Segmentation is the process of dividing buyers into distinct groups based on common characteristics to target them effectively.

Customer Opportunities

Customer Opportunities are chances to meet unfulfilled client needs or enhance their experience, creating value and spurring growth.

Customer Persona

A customer persona is a fictional representation of a business’s ideal customer, based on data and research, to guide product development.

Customer Feedback

Customer feedback is insights provided by clients regarding their satisfaction with a product/service or their experience with a company.

Corporate Immune System

Corporate Immune System: Organizational resistance to changes and innovative ideas, often preserving the status quo.

Consumer Insights

Consumer insights are actionable understandings of consumer behavior used to inform business decisions and strategy.

Complementary Innovation

Complementary innovation refers to enhancements made to existing products, services or systems that improve performance or value.

Jobs to be Done

Jobs to be Done refers to the underlying tasks and needs customers aim to fulfill with products or services.

Innovation Skills

The knowledge, abilities, and attitudes that enable individuals to contribute to the innovation process.

Innovation Accelerator

Innovation Accelerator

A program or organization that helps businesses or ideas to grow quickly by providing intensive support and resources, often over a fixed period of time.

Value Proposition

Value Proposition

The Value Proposition is the offering to the customer, and the reason they should purchase a product. It is the offering of value that sets a product, service or brand apart from its competitors.

Social Innovation

Social innovation is the application of creative thinking and novel solutions to social challenges, leading to positive change in society.

Qualitative Research

Qualitative research is used to find non-numerical data. It thereby focuses for example on people's experiences, behaviours or interactions.

Jobs-to-be-Done Theory

The jobs-to-be-done theory is an approach to truly understand and cater towards customer needs.

Integrative Competencies

Integrative Competencies are a set of skills and knowledge a company needs to integrate complex ideas, data, and systems.

Dynamic Capabilities

A company’s capacity to adapt to an evolving market through change, innovation, and learning. A firm's ability to integrate, build, and reconfigure internal and external resources to address rapidly changing environments.

Customer Persona

A customer persona is a detailed fictional character that represents a segmented group of customers, enabling businesses to better understand and tailor their offerings to meet their needs.

Customer-Focused Innovation

Innovation that focuses on the problems of the customers, and seeks to solve them in a way that brings the most value to said customers.

Ambidexterity

The ability of a firm to prepare the business for the future while also supporting current operations.