How do innovators transform new machines, molecules, and even melodies into multi-billion dollar value innovations - and break the rules of standard marketing in the process?
In March 2014, I gave an interview in Palo Alto that sheds some light on these questions through the lens of my own research on market creation and customer experience design.
Can you let us into the evolution of your thoughts and how they are different from standard marketing?
In a nutshell, the common sense in marketing has revolved around this idea of creating and communicating value. The gist of this model is that consumers have these unmet needs and what you want to do is figure out what they are and then create an offering that fills the gap. Aside from product management, the two major challenges are the identifying the need part and then the getting your message out effectively part. That’s the tale of marketing that I grew up with. This idea of satisfying consumers or, in short, consumering.
How a trailblazing Schulich prof is turning marketing on its head