Think Like a Brand. Act Like a Startup. by Lauren Perkins

Author:Lauren Perkins
Language: eng
Format: epub
ISBN: 9781639090372
Publisher: An Inc. Original
Published: 2024-10-15T00:00:00+00:00

Chapter 6

Category

The concept of category is a strategic approach to your company’s business landscape. I also refer to it as your competitive ecosystem. It helps companies create, develop, and dominate existing categories and create new categories of products and services instead of focusing only on beating the other guy, which is ultimately only a short-term game. Category aligns much better than a simplistic focus on competition, with the strategy, prototyping, and validation work that goes into building a new venture in the digital world. Think of a swim meet, with a pool full of swimmers straining inch by inch, focused on breaking their own personal bests in every heat, all trying to win; that’s your competition.

But focusing only on the competition leaves too many opportunities on the table. Category starts with the consumer, not the competition. This is a radical shift for a lot of businesses. They tend to view their products and services in the ecosystem of other businesses. But shifting the perspective to the consumer shows how expansive the competitive ecosystem actually is, involving more than just similar products and services. It’s also about expanding your perception of value-creation, considering the unmet customer needs (that they may not even be aware of yet), and giving any business a competitive advantage. But it means expanding your perspective and welcoming new challenges, as well as ways of creating or delivering value.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.