Innovations are successful only if customers want them. Explain this s

QUESTION

Innovations are successful only if customers want them. Explain this statement with an example.

What will be an ideal response?

ANSWER

Innovation is change that customers reward with their purchasing power. The text cites a good example of this with the Nokia cell phone. Nokia introduced a phone with many high-tech features, but, after interviewing customers, found that these features were confusing and difficult to use. When Nokia took customer advice and added some lower-tech, but highly desirable, features to its phone offerings, these phones caught on with customers.