Innovation in Practice Blog
Great Innovators Focus More on Post-Purchase than Pre-Purchase
What products or services have you purchased that are your absolute favorites? Can think of a few? My bet is that you can think of a few because those products did everything and more than what you expected. Your satisfaction after consuming those products is very...
Want to Innovate? Make Sure You Have a Seat at the Table
For most companies, the top marketer, usually called the chief marketing officer, is part of the senior leadership team and sits on the executive committee or management board. In other words, marketing has a “seat at the table.” But here’s the challenge. If you let...
Innovating Through Partnerships
Have you ever heard the expression, “Riding on the Coattails of Others?” What it means is – achieving success by associating with other people or groups. In sales and marketing, it’s another great way to create opportunities and improve your sales revenue. Let’s look at how.
Outmaneuver: Out Think, Don’t OutSpend
Look at any industry, in any market, and you’ll find the same strategy playing out everywhere. Companies compete with one another in a mindless race to the bottom, matching products and services feature for feature, competing primarily on price. This commoditizes markets and drives down prices and margins. But ultimately, no one wins—not even the consumer–as quality, service and differentiation suffer. We call this senseless strategy “Attrition Competition”, and it is derived from prevailing military strategy, which seeks to overwhelm competitors.
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