It has never been easier for startups and new product concepts to find a consumer base ready to wear, taste or try new ideas and products. This is resulting in a big hit to market share and revenues for the largest CPG and fashion players.
Goliath companies have long realized that a gap exists between the innovation present in startups or “lab” environments to what is produced in large corporate R&D departments.
Although companies like Shinola, MeUndies and Blue Apron each have radically different business models and channels, they have all found a way to tap into unmet needs through unique channels, distribution models and killer offerings.
Enter Kurt Salmon’s approach to innovation: get close to consumers, recognize trends and quickly respond to their specific needs.DOWNLOAD PDF