#Category #creation has recently caught my attention. And i am surprised how the companies which can be counted in world's top 20 have created new categories more often than not -
Be it #technology which is an easy brewing ground for innovation, #Apple from Macs to ipods to ipads to iphones, have done that many times. #Google, #Facebook, #Uber, #Airbnb are such techno examples where they created new categories. Taken away human imagination to a new level and changed the behaviour of consumer with better solutions/benefits than they could have thought.
Be it #retail, #Amazon has again replaced distances with thier one click shopping and fastest deliveries. And new categories like #Alexa, #Echo, #Kindle etc, things we never thought should exist!
How? Common aspects are - 1.Working on a new paradigm of #consumer-#benefit and problem solving. 2. Making it #fast enough connect with #ecosystem that competition cant ape quickly.
Read on this #HBR article talking about coffee example of #Starbucks and #Keurig where despite coffee consumption going down, sales on coffee consumption grew exponentially...by creating new category for coffee consumption! Read it here - https://hbr.org/2011/09/why-category-creation-is-the-u
#marketing #innovation #disruption
