Ever try driving down the road while looking in the rear mirror without crashing.? Probably do not want to try this, as you are likely to crash and burn. Even with this common sense knowledge, you will find this analogy going on with companies every day, even though they know this will likely result in failure.
Market driving companies are one’s that find themselves at the forefront of consumer perception, from both a product innovation and market positioning standpoint. Those that “drive” the market vs those that are “driven” by their respective markets, have established creative processes which allow them to interpret future consumer desires, dreams and needs and bring them into reality. When brought to reality, it is packaged, merchandised and marketed as the next evolution/generation that all “early adopters” mush have or be left to follow the crowd. The earlier in the adoption curve the brand can grab these “early adopters”, the longer the product lifecycle and greater profitability at retail. Both good for your customer … the retailer…
Companies’s that are merely “driven” by the market find themselves with a “late adopter” consumer base, competitive pricing pressures and shorter product lifecycle. They must be very adept at managing forecast and inventory turns, within a very short window of opportunity if they expect to achieve any margin contribution.
For this reason alone, the greater your ability to “drive” the market and “core” consumer to your new/next generation of products, the greater your ability to avoid significant competitive pricing pressures, increase your product lifecycle and eventually draw down your product price points over time, while still maintaining substantial margin.
Always look to be the Leader, not a Follower…
Always Innovate, do not Imitate, it will keep you in the “First Mover” position…
Always take Risks, it should the Lifeblood of your Creative Engine…
Enjoy the Ride…!
BLOG: “Product Innovation & Marketing Success..”
I have a passion for living balanced life and a strong faith...each equally important for thriving and excelling…I love crushing mountain bike trails, exploring and finding ways to grow beyond the “status quo”. I am a dedicated, innovation driven team leader with a passion for establishing a disruptive vision and executing a market dominating strategy… Our industry has always been about creating innovative, market driving solutions that enhance performance or provide for a better life beyond sport. It has also been about culture, fit and passion for the brand. When these foundational pillars are removed, the brand starts to crumble. Being part of an industry that bridges talent between product creation, marketing, sales, finance and operations is formula for success, because every function is about building a foundational performance brand. It’s galvanizing when elite athletes wear and endorse our creations, but the real strength is leading the teams that combine their creative forces and technical expertise to make the engine roar. I am always passionate for defining and leading the next industry revolution… Extensive executive level experience across globally recognized brands, each number one in their respective markets, along with having founded and successfully sold my own branded apparel company. Whether establishing new product lines, building global marketing strategies, leading design/development teams, I have a passion for building and growing brands. Some examples; • Built Zamst from start up to achieving nationwide North American distribution, and 845% revenue growth over a 3 1/2 year period. • With Gathering Storm, grew TaylorMade/adidas Golf Accessories from $11M to $48M over 3 years. • K-Swiss, global executive management of $38M in international licensee’s and domestic apparel/accessories division. • OAKLEY, built and successfully developed “Athletic Division” NCAA licensed team eyewear/apparel product lines achieving $1.4M in initial season.