Innovating for Trust
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Innovating for Trust

Edited by Marika Lüders, Tor W. Andreassen, Simon Clatworthy and Tore Hillestad

This book adopts a multidisciplinary approach to innovation, and argues that because innovation is always risky business, trust is an essential premise and outcome of successfully designing, developing and finally launching innovations. Each part of the book encompasses a different aspect of innovating for trust. It begins with the notion of trust, before covering the importance of trust in future thinking, business model innovation, service design, co-creation, the innovative organization and self-service technologies. It concludes with the importance of trust in commercializing innovations.
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Chapter 25: Innovation economics

Tor W. Andreassen, Line Lervik-Olsen and Seidali Kurtmollaiev

Abstract

Nothing happens until customers adopt an innovation. In the chapter the authors develop a new theory for measuring firms’ innovativeness as perceived by their customers. The approach follows the logic of a structural equation model with antecedents and consequences. Antecedents include four areas where customers can perceive changes: core service; service delivery; customer relationship management; and servicescape. Since firms innovate and customers perceive, we suggest that key informants with the firms are interviewees pertaining to innovation efforts. The outcome of perceived changes in any of the four innovation areas results in a cognitive and an emotional satisfaction which co-varies with perceived innovativeness. Perceived innovativeness co-varies with perceived relative attractiveness in the market place and, finally, customer loyalty which is a proxy variable for actual behavior. From these analyses, service managers can a priori estimate the effects of various innovation efforts before any investments have been done.

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