As niche offerings and challenger brands capture emerging demographics, can the mass market brand compete with innovation?
Gaining new competitive advantages has become more challenging, and success depends on having absolute clarity about the right opportunities to pursue. To innovate as a brand, you need to identify and understand who your next customer is. Consider the four factors of innovation: audience, experience, business readiness and business purpose.
Why it matters
With challenger brands offering niche products and services to emerging consumer subsets, mass market
brands need to harness innovation to stay relevant.
To read the rest of the report head here.