Reinvent Categories to Capture Unsatisfied Demand
For far too many companies, innovation has become a treadmill of minor product tweaks that are quickly copied by competitors and therefore fail to drive pricing power. At The Cambridge Group, we help our clients go beyond innovation to reinvention, fundamentally transforming the category or creating a new category. In our experience, the most significant opportunities for reinvention are based on new insights into latent and emerging demand.
Principles of Reinvention
- Reinvention is a multidimensional growth strategy to create competitive differentiation and insulation.
- Markets evolve long before consumers express needs. Reinvention is driven by internal recognition of this fact, in combination with analysis of external demand.
- Reinvention must be driven by a senior level cross-functional team.
- Reinvention requires both disciplined analysis and creative thinking.
- Successful reinventions result in superior economics and enhanced pricing power.
- To succeed, a reinvention target must be identified and their unsatisfied demand must be understood.
Selected Case Studies
- Case Study 1 - A leading Insurance Company restores pricing power in a commoditized market – realizing an estimated 20% increase in incremental car insurance premiums.
- Case Study 2 - A Major Snack Food Brand combats declining prices and intense competition with a robust new portfolio of innovative products.
For More Information
To learn more about our services, contact us by phone at 800.250.3810, email us, or download The Cambridge Group overview, "Demand Profitable Growth" [PDF, 2.5mb].