Customer Innovation Bias

Abstract

If there is one word that has dominated the corporate discourse in the past couple of decades, it would be ‘innovation’. It has come to encompass anything new, different or better. Customers are constantly searching for lasting advantages in their products or services and innovation is their mantra to achieve this. Customers often turn to their suppliers for assistance with innovation. It is thus a great opportunity for suppliers to fortify their standing and relationships—provided they can meet the challenge. This chapter discusses the concepts relating to innovation support for customers by acting as their extended arm. In relations with customers, there comes a point when status quo is not good, either for the vendor or for the customer. Would you want to respond to change after it has happened or make the moment yourself? How can you differentiate your account management package further? By being bold! We discuss the various facets of this and how you can build a competitive advantage by being avant-garde and acting as an idea source for your customer.