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      "text": "A key challenge in this area is to avoid letting perfection stand in the way of progress. It is more important to launch minimally viable offerings and then to upgrade them quickly in response to customer feedback than to let time and opportunity slip away.",
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      "text": "A key challenge in this area is to avoid letting perfection stand in the way of progress. It is more important to launch minimally viable offerings and then to upgrade them quickly in response to customer feedback than to let time and opportunity slip away. Customers have proven to be highly collaborative—accepting initial imperfection and suggesting practical product improvements—when their feedback is acted upon.",
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      "text": "Reshaping the Customer Experience. The first initiative builds on the analysis of the customer journey in the first phase to determine how to eliminate pain points and how to surprise customers with new levels and forms of service.",
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      "text": "For example, some energy companies are starting to offer mobile apps that allow customers to check bills and obtain meter data. Some retail chains have advanced offerings that allow customers to keep track of shopping lists and order out-of-stock items through an e-commerce portal on their smartphone. (See the sidebar “A Retail Player Quickly Rolls Out a Mobile App.”) Similarly, some travel sites send flight status updates, departure gate numbers, seat assignments, rental-car confirmations, hotel directions, and other trip-related information to customers’ phones—all sequenced to arrive at precisely the right time. And automakers are improving sales by using digital channels to send vehicle information and specs to potential customers at critical junctures in the purchasing and maintenance processes.",
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      "text": "Reimagining Products, Services, and Business Models. This reimagining prepares companies to better meet their customers’ needs, often by exploiting new data and powerful analytics. These offerings don’t merely improve the value proposition for customers; they transcend it and help the company expand into new areas of the value chain. For example, many banks are moving beyond the processing of payment transactions into services such as shopping, product comparisons, discounts, and post-transaction ratings. Similarly, telecom companies are starting to provide streaming-video and e-commerce services for their customers, in addition to basic voice and data. In the industrial goods industry, many companies are now using embedded sensors in capital equipment to warn users of maintenance issues, allowing them to make less expensive repairs early on and prevent larger problems.",
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