Broken Paradigms of Market Segmentation
My “intensive” week has just begun, and supposedly from 1pm till 9pm I am at Rotman but the after class discussion with Minhea kept me at school till 10pm. I feel like at the Plato’s academia. So I had only limited time to post here. Today I will just jot some notes from the readings for Managing Innovation course;
A Harvard marketing professor Theodore Levitt used to tell his students, “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole!” A translation of this innovative idea is at the video below (TED Talks, 16 min.)
I wish I could wrote more but I could violate the copyright of the article. But every businessman should read the “Marketing Malpractice, the cause and the cure”. Don’t get it wrong from the title, the author is Clayton M Christensen, who wrote the Blue Ocean Strategy. What I liked is about their thinking on the problem definition. Check it out at HBR Dec 05.