There are seven steps to the basic business strategy which, in theory, you can apply to disrupt virtually any market. Here’s how to implement category design. Today we start with step one.
Identify the Problem and Your Unique Insight
To kick things off, you must identify what it is that you believe the world is missing. Articulating the problem and your unique solution will act as the foundation upon which you can make disruptive innovation happen. What problem does an industry face for which there is no current answer? How can you fix it?
For example, Airbnb saw traditional hotels and booking platforms as clunky and cold. The founders wanted to offer people a more personable accommodation experience – and wound up transforming the hospitality industry.
After pinpointing some issues with taxi services, Uber appealed to the masses by making vehicles-for-hire easy to book, quick to arrive and convenient to pay for whenever and wherever you needed it.
If people are going to see your new marketing category, you must frame the problem and your solution in a way that they will understand and, more importantly, desire.
In the next post you'll discover step two, choosing your category name.