How Brands Can Wow Customers With Less
Costovation is a type of innovation that significantly compresses costs while still wowing customers. It’s about meeting or exceeding customer expectations with less.
NEW THINKING
Costovation is a type of innovation that significantly compresses costs while still wowing customers. It’s about meeting or exceeding customer expectations with less.
Ever since Clayton Christensen wrote his book The Innovator’s Dilemma in 1997, it has been accepted as a fact that companies will fail if they don’t disrupt themselves first.
Here’s a thought experiment. Imagine the engineers working in the product development labs at Volkswagen A.G. develop three innovations:
Steve Jobs was creative precisely because he opened himself up to new experiences— studying calligraphy and Zen Buddhism, visiting an ashram in India, strolling the kitchen appliance section at Macy’s (the Apple II was modeled after a Cuisinart), or copying the Ritz-Carlton’s steps of service in the Apple Store (though the Genius Bar dispenses advice, not alcohol).
When the iPhone launched in 2007, it was both the best phone the world had ever seen and Apple’s first phone. Dyson’s first ever Vacuum cleaner was the best ever vacuum ever made at launch. When Tony Faddell made Nest Lab’s first Thermostat, it was also by far the best in class.