Limited Time Offer: Save 30% on PRO with code WOOHOO »

Real-World Education for Modern Marketers

Join Over 600,000 Marketing Professionals

Start here!
N E X T
Text:  A A

Innovation Is Not the Key to Success, Reinvention Is

by Roger Cusa  |  
September 8, 2017
  |  3,461 views

One of the most prevalent questions business owners, marketers, and entrepreneurs agonize over is "How do I create a truly innovative product?"

Most think innovation is synonymous with invention—and that to move the needle, we need to come up with a shiny new product, market, or idea. But if we look back at some of the most innovative brands of recent decades—Zappos, Virgin, Cold Stone, Walt Disney, Hotmail, and more—we find that they actually didn't invent a thing.

Rather, they introduced a product that reinvented the established norms of their market, which created the excitement and buzz that would propel them to their present-day success.

Reinvention is about creating a new solution to a problem by matching existing technologies to current and emerging consumer behaviors. As I argue in my book Reinventing the Egg: To Win the Game Is to Change It, the goal is not to invent or to become a pioneer (which is what people tend to associate with innovation); the goal is to take advantage of an existing technology, move it one step further, and find a new and unique solution to a problem.

So how do the most successful brands leverage the art of reinvention?


Here are seven companies that saw opportunities to reinvent where others didn't—and catapulted their brands to success in the process.

1. Ferrero Group

Michele Ferrero, founder of the chocolate and confectionery mega-brand (and Nutella!) understood that every new product and every new thought has evolved from other ideas and experiments.


Sign up for free to read the full article.Read the Full Article

Membership is required to access the full version of this how-to marketing article ... don't worry though, it's FREE!

WANT TO READ MORE?
SIGN UP TODAY ...
IT'S FREE!

We will never sell or rent your email address to anyone. We value your privacy. (We hate spam as much as you do.) See our privacy policy.

Sign in with one of your preferred accounts below:

Loading...

Roger Cusa is an international marketing executive and author of Reinventing the Egg: To Win the Game Is to Change It. He believes the key to growing and innovating successful businesses isn't about incremental ideas or doing something slightly better; it's about reinvention.

Twitter: @rogercusa

Rate this  

Overall rating

  • Not rated yet.

Add a Comment

Comments

  • by Frank Green Fri Sep 8, 2017 via web

    Hi Roger
    Great read. it's always interesting to see new ways. for example, I believe a well-revered marketing author once said back in the mists of time that marketing & Innovation were the 2 key functions of business and that Innovation really means that you must continue to add real value to the customer experience otherwise you will begin to compete on price and ultimately die!
    Regards
    Frank Green

MarketingProfs uses single
sign-on with Facebook, Twitter, Google and others to make subscribing and signing in easier for you. That's it, and nothing more! Rest assured that MarketingProfs: Your data is secure with MarketingProfs SocialSafe!