Good Morning Innovation Pioneers,
The OLD WORLD Leadership VIEW is
In Chapter 8 of How Brands Grow, Sharp and Jenni Romanuik suggest that “distinctiveness” is more important for a brand than “differentiation.” They say: “Rather than striving for meaningful, perceived differentiation, marketers should seek meaningless distinctiveness. Branding lasts, differentiation doesn’t.”
In the OLD WORLD differentiation does’s last… because we don’t keep it lasting. We don’t invest in new technologies, in filing patents, in creating WOW products and services for our customers.
In the NEW WORLD we embrace NEVER ENDING INNOVATION – we have a pipeline of WOW upgrades with a blend of 85% CORE (closer in innovations) and 15% LEAP (transformational innovations). In the end the 15% LEAP generates 50% of our profit growth.
What’s important is that we offer MEANINGFUL UNIQUENESS… or said another way a real difference that makes a difference. It means that our offerings offer greater VALUE… in the form of new or improved BENEFITS to the customers — benefits that they customer can not get from anywhere else in the world.
We’ve shown the relationship between Meaningful Uniqueness and Profitability time after time in published academic articles, in Merwyn Truth Teller Validations and Long Term Client tracking studies.
This morning I found the graph pasted in below… from the research firm Millwardbrown…. they find clearly that meaningful difference as they call it directly related to the amount a customer is willing to pay for an offering… Basically… what they have discovered is what you learned in your Economics 101 course…… you are either a monopoly or a commodity. And of the two – – being a monopoly – the only one who offers the MEANINGFULNESS that you offer… is far more profitable.
The purpose of Innovation Engineering is simple…. To Change the World by enabling innovation by everyone, everywhere, every day, resulting in increased speed to market and decreased risk.
We selected this mission because quite frankly, with the speed of change in today’s world — Innovation can not be an event – it needs to be never ending. And the only way to make it never ending and sustainable is to engage everyone, everywhere in innovating every day.
Posted today from St. Andrews Scotland