How Open Innovation Increases Consumer Value
The InnovationExcellence website noted that today’s most innovative companies recognize that it is not unique technology or features alone that drive winning innovations, but the value and impact that those innovations contribute to their customers. Just as marketers must now engage in intimate social media conversations with consumers, R&D must utilize new methods & processes, operating closer to their end user than ever before. By leveraging Open Innovation throughout each phase of the development process enterprises can ensure that their output is relevant and authentic, thereby de-risking projects and increasing the likelihood of market success.
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