The landscape for growth strategy exploration is analogous to a Chessboard that is filled with White Spaces and Black Holes.
Every marketer is constantly faced with the challenge of finding the right growth strategies for his/her product portfolio, in the ever-more complex environment. Information is abundant, yet often conflicting. While in search for the White Space for growth, often you fall in a Black Hole.
Quantum Physics: “White Space” is almost everywhere..it’s all around us..across and within molecules and atoms.
Consciousness: Van Gogh saw consciousness (White Space) in a chair..his painting brought out the life in it..the materials cost him a few dollars..the painting itself sells for millions (The New Earth, Eckhart Tolle)
Mindset: Millions of people have seen apples fall from a tree..some ignored this.. some ate them..while others built apple orchards around them..only Isaac Newton saw the Laws of Motion in it.
Scope: We need a microscope to magnify emerging White Space..a telescope if the White Space is too far..a periscope if we are underwater and the White Space is on the surface..a kaleidoscope to identify the White Space in a sea of random colors and patterns..We need scopes to guide us to the White Space!
Quantum Physics: “Black Holes” are intricately embedded in the White Space, sometimes in the foreground, other times in the background.
Illusion: Unlike a chessboard, White Spaces and Black Holes do not occupy the same surface area and the mind loses sight of this disconnect. Hence, only a small percent of new product ideas actually succeed.
Timing: Timing is everything. If you are the FIRST to market, you will have higher revenues and volumes. The broader your sphere of influence, the greater your market potential..longer time to reach equilibrium..and higher the marketing support needed. The FOLLOWERS need lower marketing support, however, will see lower revenues and volume.
Reality: While ambition drive marketers to be the first in anything they do, budgetary constraints result in spending less than is needed and competitive pressures inevitably drive them into the Black Hole.
How do I Choose the Right Strategy?
Summitry’s HONEYCOMB℠ software provides a deep insight into the consumer and purchase behavior from various vantage points. Our model is rooted in highly analytical methods that have been proven successful in the marketplace across 900 brands in 30 countries.
Key Issues Resolved
What are the strengths/ weaknesses of our brands vs. competition?
Do we have an ideal portfolio of products?
Is each brand strategically positioned to maximize leverage?
What are the major growth opportunities?
Who Has Used Honeycomb℠