Customer value analysis as a tool for fostering a systemic innovation: Case tractor implement connecting interface
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The hi-tech companies tend to lead in the market by satisfying their customer needs. They innovate technological product in a system because technology in isolation cannot deliver value unless having complementary technologies with it to realize the peak performance. Therefore to ensure the long term sustainability in the market, companies have to analyze the customer requirements and innovate products accordingly. The objective of this study is to discuss utilizing customer value analysis as a tool for fostering a systemic innovation that commits partners for collaboration. Companies who are good at understanding the customer requirements and analyze what is important to their customers are always in a better position to satisfy the customer needs. Therefore, customer value analysis can be utilized for managing the technological innovations. The key outcome of this study is the establishment of a framework based on literature review that represents customer value analysis as a tool for fostering innovation in a system. Further, the idea of innovative coupling interface is presented to simplify the current tractor implement coupling system that until now requires the physical effort, time and high capital investment. Finally, the thesis framework shows the value proposition of innovative coupling interface, and motivates both tractor and implement manufacturers to collaborate for developing a new coupling interface in a system.