It’s the new era of marketing. Market Invention is the process of creating and maintaining market dominance by leveraging insight, strategy, experience, and expansion to establish and amplify customer and company value. For years, we’ve been hearing about the death of the ad industry. Whether work is done at an agency or internally, the industry […]
This Week's Market Inventions
The Process Behind Disruption
Disruption might be the biggest business bandwagon of all time. But ask most people what their idea of disruption is, and they’ll stare at you with a blank look or start rattling off a set of disjointed ideas.
How Peloton Is Crushing an Old Industry Model
How to Not Become an Expert
Experts are impressive, but there are some trade-offs. First, there’s the obvious opportunity cost to hyper-specialization: all the other things you won’t be able to do. But there’s another, more subtle cost: you risk losing the beginner’s mind. As you restrict your inquisitive nature, your sense of wonder fades. You become uncomfortable with ambiguity. You forget how to learn in new ways about new things. You might begin to start liking the idea that you’re an expert and slowly, unconsciously start closing your mind to the opinions of non-experts. Then, to the experts who don’t agree with you. The process continues, and eventually you find yourself totally isolated, lost in your own ideas.
Why Turnaround Specialists Need Market Invention
Turnaround specialists can be called in at all stages of failure, from decreasing working capital to impending bankruptcy. While the work of a turnaround specialist in these situations is irreplaceable, it can be effectively supplemented by incorporating Merit’s Market Invention strategy. This unique partnership turns a rather dire situation into a net positive by implementing change and inventing a new opportunity for a business to not only survive, but to thrive.
Public Relations and Market Invention
“We need public relations!” We hear this command frequently from big and small organizations across the country. However, we promptly question what exactly they’re seeking. Every organization needs a smart PR strategy, but most don’t know exactly how.
Video and Market Invention
You’ve probably heard of Market Invention, the strategic process of creating new markets through a shift in audience, category, channel, or branding. It’s the discipline behind disruption, and it rests on good communication. That’s where video comes in.
Web Design and Market Invention
Web designers are the architects that create the visual elements of the site, the stuff the user sees. Web developers create the functionality that works in the background. When working together, the two disciplines deliver a seamless, clean experience that ignites a buyer’s interest.
Digital Media and Market Invention
But before you rush off to the first digital media strategist you can find, consider this: does good digital media marketing really mean just matching the trends of the day? Or, since those trends will always be shifting and evolving, might there be some underlying strategy at the base of all that (very important) surface-level stuff?
Five Lessons From the Growing Artisan Economy
We hear a lot about the artisan economy. It’s a movement towards personalized, hand-made, small-scale production that has been gaining lots of momentum in the US. So much momentum, in fact, that artisans are taking a measurable chip out of mid-sized manufacturers. According to the Inter-American Development Bank, if the artisan economy were a country, it would have the fourth largest economy in the world. While larger sized businesses obviously cannot compete with some aspects of the artisan economy, they can certainly reflect on some of the principles that are propelling artisan growth and apply them to their own organizations.
Nonni's Biscotti owns its Market, but will it stay in first place?
Before Nonni’s came out with its first gourmet cookies in 1988, few Americans had a clue what a biscotti was. But the company presented its simple, crunchy cookies as a classier, healthier alternative to traditional American cookies, and biscotti soon became a national trend.
From Advertising to Market Invention
If you’re tired of being stuck at second or third place in your sector, fighting tooth and nail with tired marketing ploys, it might be time to start thinking about Market Invention.
Managing Crisis Communication with Market Invention
Every failure represents an opportunity for improvement. Great crisis management & communication can be step one in reinventing a business or reimagining a market. They can point to an area of your game that needs improvement, force you into new positioning, or even send you back to the drawing board.