Turning Customer Intelligence into Innovation

Abstract

This research is aimed to study the impact of customer intelligence on new product development and the opportunities an organization can create to develop a new product and market it using customer intelligence. The purpose is to study how organizations are working on customer intelligence and what are the results customer intelligence generates for the organization. The study is also aimed to study the role of customers in new product development process for the organizations and the importance of customer input in new development process for organizations. The industry I decided to study is the consumer/fmcg industry because it is the industry where organizations bring number of new products everyday and it has a very large number of customers so it is a perfect industry for my study. I’ve analyzed and described  New product development models  Customer intelligence and its functions  Need and importance of customer intelligence  The impact of customer intelligence on different metrics,  The need and importance of customer input in new product development  The level of customer input in new product development  Phases where organizations use customer input in new product development