Tuesday, January 18, 2011

How NOT to compete

As businesses try and do something "different" in order to capture the consumer's attention, it seems like they are all in fact doing the same thing - minor tweaking to breakthrough innovations and then terming those to be "brand new" products.

These kind of innovation-less improvements do nothing other than adding to a growing pile of mediocre products. This post at HBR Blogs talks about how such kind of strategy contributes nothing to the world. One startling statistic quoted: A recent Consumer Electronics Show (an annual affair) saw the unveiling of 20,000 products... Woah! 20,000 products within the consumer electronics segment alone. How many of these are we actually interested in?

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