Leading companies are combining insights about customers, competitors, and costs to develop more innovative and cost-effective products.
A rising tide of prosperity in developing economies is reshaping the nature of competition among global product makers, offering both the promise of new markets and the perils of having to face nimble, innovative, and highly ambitious rivals.
The article from McKinsey omits to mention of age-friendliness and the important consideration of the changing physiology of consumer when designing products for an ageing planet.
By encouraging more focused collaboration among multiple functional groups (notably marketing and sales, operations, engineering/R&D, and procurement), leading companies are combining deep insights about customers, competitors, and supply bases to strip out costs and amplify what customers truly value. The results—including better products, happier customers, higher margins, and, ultimately, a stronger ability to innovate—should serve these organizations well in years to come.
We use a similar conjoint analysis as depicted in the chart, to determine the priorities for change to the customer journey resulting from an AF Audit.