Read the research note given below and answer the following question (on CAR7). Chris Voss and colleagues from London Business School and the Advanced Institute for Management Research have been carrying out extensive research on 'experience innovation'. This focuses on how service businesses in particular are using the creation and delivery of novel and rich experiences to attract and retain customers. A study in 2004 examined 50 organizations in the areas of retail, entertainment and sport, theme parks, destinations and hotels, largely from the UK, Europe and US. The research identified a repeated cycle of investment and management, vibrant experiences, customer growth, profitability and reinvestment that drives profit which can be seen as the experience profit cycle. The research also examined how organizations are turning services into destinations, compelling places where people visit for an extended period of time, engage in multiple activities and want to return to. Subsequent work looked in more detail at examples in the UK and USA addressed the question of how focusing on the customer experience changes the way services and service delivery processes are designed. It looked at the process and content of experience design. The study involved eight case studies of design agencies and consultancies that specialize in experience design and nine case studies of experiential service providers. The research showed that companies often use the customer journey and touchpoints approach to design experiences. Innovation took place in five design areas: physical environment, service employees, service delivery process, fellow customers and back office support. An important part of the design process is collecting customer insights. Source: Research note 2.1-The Growth of Experience Innovation, Joe Tidd and John Bessant Managing Innovation, p. 64.

Q.4. Apply innovation process on research note give above and describe each stage in the given context