What is Market Invention?
It's the new era of marketing.
Market Invention is the process of creating and maintaining market dominance by leveraging insight, purpose, position, and experience to establish, grow, and maintain customer and company value.
The Amazon Effect
Companies will sink or swim based on their ability to continue to move further away from the competition, most often by creating new market categories or exploiting whitespace in the industry.
To date, Amazon has been a leader in this strategy, creating new demand and revolutionizing the way the retail industry works, effectively destroying the brick-and-mortar paradigm. What they have done is not a paradigm shift, but a paradigm decimation.
How Dollar Shave Club Changed Shaving
Dollar Shave Club started selling disposable razor subscriptions in 2012. In a few years’ time, it had catapulted into the realm of the unicorns.
A New Kind of Business Card
With the launch of Merit, we wanted to rethink how we use business cards, and create something in a category of its own.
The Process Behind Disruption
Disruption might be the biggest business bandwagon of all time. But ask most people what their idea of disruption is, and they’ll stare at you with a blank look or start rattling off a set of disjointed ideas.
In Every Market, Millennials Matter
If you really want to own a category, don’t forget millennials. According to Accenture, there are roughly 80 million millennials in the US alone, and each year they spend roughly $600 billion on shopping expenses.
Why Turnaround Specialists Need Market Invention
Turnaround specialists can be called in at all stages of failure, from decreasing working capital to impending bankruptcy. While the work of a turnaround specialist in these situations is irreplaceable, it can be effectively supplemented by incorporating Merit’s Market Invention strategy. This unique partnership turns a rather dire situation into a net positive by implementing change and inventing a new opportunity for a business to not only survive, but to thrive.