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Brand Relevance: Making Competitors Irrelevant - always yours

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Key Takeaways<br />

FINDING NEW CONCEPTS 195<br />

An organization can enhance the chances of creating a new<br />

offering that will transform the market by becoming proficient<br />

in creative thinking and by pursuing several idea - generating<br />

approaches, such as identifying customer - articulated unmet needs,<br />

conducting ethnographic research, observation, identifying unintended<br />

applications, customer partnering, asking why noncustomers<br />

don ’ t buy, interpreting market trends, using global reverse<br />

innovation, employing open innovation, looking to role models,<br />

leapfrogging competitor offerings, seizing technology - driven<br />

opportunities, leveraging the firm ’ s assets and competencies, and<br />

looking at the commonly used category and subcategory defining<br />

value propositions. Some concepts or trends not ready for<br />

market should be prioritized as in the basis of their impact and<br />

immediacy.<br />

For Discussion<br />

1. Create a list of the top fi ve to ten unmet needs in your<br />

marketplace. Categorize them as to how feasible a responsive<br />

offering might be. What would be the size of the<br />

potential market?<br />

2. What trends are emerging that would affect Best Buy?<br />

Apple? Zappos? Prioritize their associated information need<br />

areas.<br />

3. What are some role models that might provide offering ideas<br />

to Muji? To Wheaties?

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