Why do most companies struggle with innovation?
The reason so many companies struggle to innovate and why so many products flop is that they don’t really understand what it is their customers want. Moreover, they don’t know what inputs they need from customers to make innovation predictable.
We have found that 80% of product teams don’t even agree on what a customer need is.
An effective innovation process must overcome all these obstacles. A company must know all the customer’s needs and determine which are unmet before ideas are sought, collected, and evaluated.