40% of new products fail in the marketplace, despite being validated with focus groups. Most BOVC companies judge their innovation funnel to be under populated.
Goals and Objectives
Increase the flow and improve the success rate of new products.
Cloud, social, and BDA
Use Case Summary
There is connectivity to social communities as “digital focus groups” to allow for input (direct or indirect) from customers and direct connectivity to suppliers to participate in innovation ideation. This includes social communities of customers with affinity to the brand with connectivity to broader social platforms.