An Introductory Guide
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An Introductory Guide
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Costovation defies established thinking and suggests that big innovations can come from streamlining how you think, the way you do things, and what you offer.
These aspirations are common among corporations, and they often feel opposing. But, they are not inherently at odds. Whether fending off threats of steep competition, protecting against economic downturns, or simply aspiring to grow fast, you can radically lower costs while innovating and pushing forward. Companies like Planet Fitness, Yotel, and Starbucks prove it. They find success with innovations that are both affordable and compelling.
The key lies in “Costovation,” a way to wow customers without high costs. It is how companies create low-cost innovations by using a fresh perspective on the market, a willingness to challenge assumptions, and a relentless focus on their customers’ needs. From simplifying offerings to streamlining traditional supply chains and leveraging new technology, costovation allows companies to find new ways to meet, or even exceed, customers’ expectations, cheaply.
THE BOTTOM LINE: This guide will help you answer one key question “How do I make my offerings both affordable and compelling?"
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How Costovation Through Insurance is Creating an Agricultural RevolutionThe idea of paying a premium seems like wasted expense for populations unfamiliar with insurance. Worse, the cost of selling low-value policies, servicing them, managing claims, and combating potential fraud are prohibitive for an industry that has to keep costs super-low to make its offerings affordable for these target customers.
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