Archive for: April, 2012

To find new market opportunities and grow, study non-consumers

The key to company growth is to create more value for your customers, which means better satisfying their unmet needs. With that said, if you’re an established business that is looking for growth opportunities, look for people who are not your customers. Non-consumers, people who are  not taking advantage of the benefits your product or service delivers, represent the best opportunity for innovation.

This is what Walmart is doing with its “Pay with Cash” program. It is offering a solution for customers without debit or credit cards:

Innovation must reads of the week: Do companies require radical innovations to woo consumers? No

 

 

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The Table of Strategic Elements: Visualize and Create New Strategies

Creativity is all about combining different ideas. It’s elements, its attributes. They can all be combined to create something new. Here’s something interesting, a basic table to visualize strategies:

 

Table of Strategic Elements

Created by Adobe’s Chief Strategist, Mark Randall, the “Table of Strategic Elements,” lets him analyze existing companies to identify new combinations. He has identified 14 “elements” ranging from bD, (big data), through Ga, (Gamification), to Ad, (advertising).

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