Today’s Marketing Daily includes a story about the importance of staying true to your core. The piece features Alex Hiam, author of Marketing for Dummies and an instructor at the University of Massachusetts business school. Hiam suggests that while companies must constantly innovate and add new product offerings, they ignore their core product at their own peril. (Click here to read the piece.)
Implications: What is the core value proposition of your company, product, or service? That thing you do better than anyone… that thing you are famous for? Have you abandoned that core competence, distracted by add-ons or new product launches?
Innovation happens at the edges, to be sure. But a core product or service can be your point of greatest vulnerability, if you fail to protect it well.