on March 29, 2012 by Nikos Chatzis in Business, Innovation, News, Comments (0)
(Source of Image: super-trainer.com / Business Innovation /)
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By Seth Godin
- Are we doing this because it?s better? Or Because We Can?
Business Innovation: Your Brand Doesn?t Increase In Stature?
- As organizations grow, they gain an audience, revenue, cash flow and trust. They add staff and then, soon, they decide it?s time to offer something new. Smuckers decides perhaps it should use its shelf space to offer a peanut butter. A corporate coach wonders if he ought to add HR consulting services. A website decides to clone a product made by a smaller company that they can bring to a larger audience?
- If you extend your reach because you can, because you have market power, you will probably be doing your existing customers a small service (centralized support or billing or just one less person to deal with) but your brand doesn?t increase in stature. You had a chance to bring some of your original magic to the table (after all, it?s that magic that got you started) but all you did was bully the competitors out of the way. / Business Innovation /
Business Innovation: Offering A Better Option?
- On the other hand, if you extend your brand because the new offering is better, magical in the way you can make it magical, then you?ve dramatically increased not just your market share but your perception as well.
- Nike and Apple sometimes fit into the second category?the iPhone and some of Nike?s clothing options are clearly different/better. Starbucks did it when they launched their ice cream. / Business Innovation /
- On the other hand, there are literally thousands of organizations (including non-profits) that head down the path of mediocrity by rushing to offer 57 varieties, merely to please today?s shareholders, merely because they can. / Business Innovation /
Business Innovation: You Know The Market Now?
- globalnewspointer.net: The decision to extend your business brand has certainly to do with the ?magical force? of your early moments on the starting of your business.
- Usually, there is an advantage. You know the market now, and you can focus more on consumers needs by taking advantage of your new brand or having serious thoughts when you design it.
- Finally, it is a business choice. It has to solve problems, to cover consumers needs and to offer more value? / Business Innovation /
Tags: Branding, Business Innovation, Seth Godin
Source: http://www.globalnewspointer.net/?p=11956
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