This paper will address ways utilities can gain competitive advantage despite industry turbulence. It details how to create successful brand and innovation strategies and how to link these in order to create successful new products and services for customers. After gaining a solid understanding of industry trends, the first step is to develop an ideal brand image and create a brand strategy around it. Next, companies must determine how to roll out and leverage brands to targeted customer segments over time through a brand architecture. Then, they must build an innovation strategy, defining where and how to apply new technologies and develop new products and services. This strategy is linked to the brand architecture through a product architecture. Finally, companies must be able to successfully develop new products and services through a well-planned innovation process.
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