Skip to main content

Creating A New Sub-Category

If a company can create a product or a service that has
features that are valuable and unique they have created
a new subcategory. 


New industry sub-categories are based on existing industries but add a component to it that has a crucial impact on its usage? Best examples are Apple's invention of the Personal Computer, Henry Ford's production of better cars, and Lyft's filling a new niche in the rideshare industry.

The most successful brands have created a new category in their industry.

Once I heard the saying that nerds & hippies were typically the ones that create new categories because they tend to dislike mediocracy or status quo. They typically don't make decisions based on a set number of choices. They would decide for a solution outside of the norm. Steve Jobs also calls this phenomenon "jumping curves." What he means by that is that every product or any other development follows a life cycle that typically starts slow, accelerates and then falls off. His point is that, as a company, creating a new category means to jump on the next life cycle (curve) that is propelled by a product that is 10 times better (not twice as good) and that replaces the current product. Successful businesses do just that, being the first to jump onto the next curve.

Steve Jobs once said: "There were too many people at Apple and the Apple Ecosystem paying the game of 'for Apple to win Microsoft has to lose'. And it was clear that you didn't have to play that game. Apple did not need to beat Microsoft. Apple had to remember who Apple was."  – Steve Jobs  August 1997

Comments

Popular Posts

3 Steps to Re-Branding Your Company

Sometimes, you hear that a company announces that they are planning a rebranding initiative. You might wonder what exactly this means. Are they changing their logo, their brand colors or maybe even adding some additional brand touchpoints like signage or event banners to the brand?

What might often be overlooked is what a rebranding initiative really entails. Rebranding is the changing of a company's brand's identity. A company's Brand Identity includes everything from why the company is in business, how they operate and what they are offering. Rebranding a company can be compared to a person not only changing the person's cloth. It is more like a person decides to go to different restaurants, changing the job, getting new friends or even changing a partner. Here are the three basic steps to rebrand your company:
Research how people see your brand by looking at your Brand Image.Review and re-define your Brand Identity.Hire a graphic designer to create your Brand Persona…

Brand Image, Identity and Personality

Did Amazon Jump the Curve–Again?

The new Amazon Cube will be shipped on June 21, 2018. This is the first TV "remote control" that is 100% voice controlled, and it is not a marginal improvement over conventional remote controls. It is certainly considered as a technology and usability jump of magnitudes.
But this is not the first time Amazon jumped the curve. In the mid 90's, Amazon was the first to sell books online and became a major player in the book retail industry. Amazon has announced to implement the delivery of products via drones. These are two more examples where Amazon is creating solutions that are not just improvements of a certain offering. They mark milestones in the evolution of the usage of technology.
Amazon seems to follow the same path as Apple did by doing what Steve Jobs said once: make products not twice as good but 10 times better.
Does your company have the ability to jump the curve? Let's assume you have an insurance brokerage firm. Can you create a service for your client…