Costovation: Innovation That Gives Your Customers Exactly What They Want--And Nothing More

Stephen Wunker, Jennifer Luo Law

A revolutionary approach broadens the definition of innovation beyond products to the business model itself.

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Book Information

Publisher: Amacom
Publish Date: 08/14/2018
Pages: 208
ISBN-13: 9780814439753
ISBN-10: 0814439756
Language: English

Full Description

Cutting costs is a common corporate refrain. But if you constantly slash expenditures, what happens to innovation? How can you stay competitive and satisfy customers?

This book's revolutionary approach broadens the definition of innovation beyond products to the business model itself. With costovation, you let go of assumptions, take a fresh look at the market, and relentlessly focus on what customers really want.

Consider Planet Fitness--it grew to 7.3 million members by concentrating on casual exercisers. They want easy, low-cost access to good equipment. Although it's inexpensive to run, Planet Fitness ranks highest in gym satisfaction.

Packed with examples and interactive exercises, Costovation explores cost innovation strategies that work for big and small companies alike including:

  • open innovation and cost-sharing,
  • simplifying products and turning waste into new offerings,
  • how rivals are carving out niches, protecting positions, and dominating industries.

Innovation and cost-cutting are not opposites. Combined, they expose untapped opportunities to outsmart and underspend competitors.

About Stephen Wunker

Stephen Wunker is managing director of New Markets Advisors and author of Jobs to Be Done. JENNIFER LAW is associate principal at New Markets Advisors and a former Fulbright Fellow.

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