Innovation Is Not the Key to Success, Reinvention Is

September 14th, 2017 Posted by Marketing 0 thoughts on “Innovation Is Not the Key to Success, Reinvention Is”

“Real innovation can actually be reinvention.”

– Glenn Baruck, The eDot Family of Companies

The following article written by: Target Marketing

One of the most prevalent questions business owners, marketers, and entrepreneurs agonize over is “How do I create a truly innovative product?” Most think innovation is synonymous with invention—and that to move the needle; we need to come up with a shiny new product, market, or idea. However, if we look back at some of the most innovative brands of recent decades—Zappos, Virgin, Cold Stone, Walt Disney, Hotmail, and more—we find that they actually did not invent a thing. Rather, they introduced a product that reinvented the established norms of their market, which created the excitement and buzz that would propel them to their present-day success.

Very interesting that many of the most successful innovating companies (seven companies highlighted in this article) in recent years did not “invent the wheel” but improved upon it or found new ways that the product could become a source of value for consumers.

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