Dear Marketers, Your Success Depends On How You Tackle These Challenges


Photo: By charlie llewellin on flickr

The marketing field is faced with several challenges that for many firms will require a transformation in its capability and charge. Among them are the following five.First, marketing needs to lead in substantial or transformational innovation that will result in new offerings that will define new categories or subcategories. Marketing focused on “my brand is better than your brand” strategies supported by incremental innovation and conventional programs rarely creates sales growth because markets have a lot of inertia. The only way to grow is through big idea innovation that will create enhancements or augmentations of the offering that will be regarded by customers as “must haves.” That is what brands like Enterprise Rent-A-Car, Prius,,, Dreyer’s Slow Churned Ice Cream, Best Buy’s Geek Squad, iShares, ESPN, and hundreds of others have done.

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