The One Tip For Staying Relevant in Business -How to reinvent?

  • Markets are continuously shifting
  • New trends emerge
  • Change in customer’s behaviour, attitude
  • Changing the rational and emotional needs of customers
  • The market disruption, Competition

Clayton Christensen says, “Best firms succeeded because they listened responsibly to customers, invested aggressively in technology, manufacturing abilities, designed wonderful products to meet the next generation needs. Same best firms failed after some time, because they listened to SAME customers, invested again, designed again to meet NEXT GENERATION needs”

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The reason — Any consumer business needs to attract new generations of the customer to replace the old and become relevant to them. Otherwise, the brand will appear old-fashioned, out of touch and boring.

  • Focus on the next generation of customers along with the existing line of customers
  • Focus on cultural movements to predict the future trends (Shall cover in another blog)
  • Focus on Non-Customers to create disruptive innovations
  • Keep evolving the brand, and keep creating new categories
  • If a new category is going to be completely different from your existing brand ethos, personality, create a sub-brand
  • Make sure the Category communicates proper value to the customer

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Author -Boil The Ocean. Business Strategy Consultant, Design Thinker. mmshah8@gmail.com https://www.linkedin.com/in/shahmm, https://www.amazon.com/dp/B0B4HFJL95

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Shah Mohammed

Shah Mohammed

Author -Boil The Ocean. Business Strategy Consultant, Design Thinker. mmshah8@gmail.com https://www.linkedin.com/in/shahmm, https://www.amazon.com/dp/B0B4HFJL95

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