What is innovation product in SAP CRM-MKT-MPL-CBP - Customer Business Planning?

SAP Term: innovation product

• Component: CRM-MKT-MPL-CBP

• Component Name: Customer Business Planning

• Description: The process of launching a new product can take a long time before which a lot of planning has to be carried out. An innovation product can be used as a basis for this planning and acts as an empty shell for the future product. Innovation products can only be used in draft promotions and not in detailed promotions.

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• Key Concepts: 
  An innovation product is a type of software offered by SAP that helps businesses plan and manage customer-related activities. It is part of the Customer Business Planning (CBP) component of the CRM-MKT-MPL suite. This suite provides a comprehensive set of tools to help businesses plan, manage, and optimize customer-related activities. 
  
  How to use it: 
  The innovation product helps businesses plan and manage customer-related activities by providing a comprehensive set of tools. These tools include customer segmentation, customer journey mapping, customer experience management, and customer analytics. The product also provides insights into customer behavior and preferences, enabling businesses to make informed decisions about their customer strategies. 
  
  Tips & Tricks: 
  When using the innovation product, it is important to keep in mind that the product is designed to provide insights into customer behavior and preferences. Therefore, it is important to use the product in conjunction with other data sources to ensure that decisions are based on accurate and up-to-date information. Additionally, it is important to regularly review the data provided by the product to ensure that it is still relevant and accurate. 
  
  Related Information: 
  The innovation product is part of the CRM-MKT-MPL suite, which also includes components such as marketing automation, sales force automation, and service management. Additionally, SAP offers a range of other products that can be used in conjunction with the innovation product to further enhance customer experience management and analytics capabilities.