MANAGING in the

NEW WORLD

Due to the democratization of the world, customers have now emerged as key facilitators for business innovations in product category. Thus customers must be involved and business consulting has provided us with some advice in order to do so. Social listening must be started by tracking conversations of target audience. On certain forums, customers even provide feedback which lead to social product development. Dell and Starbucks are prominent examples of organizations to have done so. Communication with customers must be as open as possible. Periodic interviews and user experience tests must be conducted to gauge product evaluation by customer. Market trends are showing further signs of this co-creation process. Also this collaboration must not be restricted between the full time employees only but must also incorporate new ideas from external consultants or customers. 

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