Comments on: Innovation, The Down-Side – Post I http://www.franklaneltd.com/execution/innovation-the-down-side-post-i/?utm_source=rss&utm_medium=rss&utm_campaign=innovation-the-down-side-post-i Helping Clients Build Killer Brand™ Businesses Tue, 20 Dec 2011 22:24:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Frank Lane http://www.franklaneltd.com/execution/innovation-the-down-side-post-i/comment-page-1/#comment-20 Frank Lane Mon, 28 May 2007 18:48:15 +0000 http://www.franklaneltd.com/?p=49#comment-20 Jenn, I am in total agreement with you. Fierce loyalty is too rare to forsake. Jenn,

I am in total agreement with you. Fierce loyalty is too rare to forsake.

]]> By: Jenn http://www.franklaneltd.com/execution/innovation-the-down-side-post-i/comment-page-1/#comment-23 Jenn Mon, 21 May 2007 11:52:24 +0000 http://www.franklaneltd.com/?p=49#comment-23 True. But there's one aspect on the "let's discontinue it" game that I don't quite understand. Take, for example, your reference to Chico's in your book. They formed their brand around a certain niche. But Chico's ended up selling out to the same mass-made clothes you can find everywhere else. A lot of the products that I love (which disappear) are niche-type things. Not insignificant niche things; just not something a large percentage of the market wants or needs. But, that doesn't mean that there isn't a significant market for it. The Chico's customers wanted what the company orginially offered, and were thus fierecely loyal. (And as you stated in your book, the line was catching the attention of other women.) So even though Chico's wasn't reaching out to the majority of women, their customers were far less likely to shop anywhere else. Thus, my confusion. My business side gets why a company wants to reach the majority of the market (as it's all about making money). But, at the same time, I don't understand why they're willing to give up such a base of fierce customer loyalty. If you want to reach the greater market, why not just keep what you have and start another brand? Look at the company that owns Gap, Banana Republic, and Old Navy. Different markets, but under the same umbrella. Gap even takes it one step further and has several markets under one roof: Gap, Gap Body, Gap Baby, etc. True. But there’s one aspect on the “let’s discontinue it” game that I don’t quite understand. Take, for example, your reference to Chico’s in your book. They formed their brand around a certain niche. But Chico’s ended up selling out to the same mass-made clothes you can find everywhere else.

A lot of the products that I love (which disappear) are niche-type things. Not insignificant niche things; just not something a large percentage of the market wants or needs. But, that doesn’t mean that there isn’t a significant market for it. The Chico’s customers wanted what the company orginially offered, and were thus fierecely loyal. (And as you stated in your book, the line was catching the attention of other women.) So even though Chico’s wasn’t reaching out to the majority of women, their customers were far less likely to shop anywhere else.

Thus, my confusion. My business side gets why a company wants to reach the majority of the market (as it’s all about making money). But, at the same time, I don’t understand why they’re willing to give up such a base of fierce customer loyalty. If you want to reach the greater market, why not just keep what you have and start another brand? Look at the company that owns Gap, Banana Republic, and Old Navy. Different markets, but under the same umbrella. Gap even takes it one step further and has several markets under one roof: Gap, Gap Body, Gap Baby, etc.

]]> By: Frank Lane http://www.franklaneltd.com/execution/innovation-the-down-side-post-i/comment-page-1/#comment-21 Frank Lane Fri, 18 May 2007 20:33:10 +0000 http://www.franklaneltd.com/?p=49#comment-21 I understand, but remember that both the brand/company and the retail trade are complicit in this game of not musical, but marketing chairs. F I understand, but remember that both the brand/company and the retail trade are complicit in this game of not musical, but marketing chairs.

F

]]> By: Jenn http://www.franklaneltd.com/execution/innovation-the-down-side-post-i/comment-page-1/#comment-22 Jenn Fri, 18 May 2007 13:20:16 +0000 http://www.franklaneltd.com/?p=49#comment-22 As a consumer, I despise when they play the "let's replace it ASAP" game--and it happens much too often today. Every time I find a product I love, it disappears soon after. It makes me want to stay away from the brand/company instead of remain a customer. As a consumer, I despise when they play the “let’s replace it ASAP” game–and it happens much too often today. Every time I find a product I love, it disappears soon after. It makes me want to stay away from the brand/company instead of remain a customer.

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