By now, all of us would agree that Covid-19 will remain in the collective human psyche for years to come. What does this mean to you as a marketer? It means we must take a new look at consumers with a fresh perspective. Just as we did after the Great Depression and 9-11, we will inevitably see changes on a global level. While these changes may occur differently for each individual, for most it will revamp the way we live and think for the long term. In recent months, I’ve been fascinated by how shifts have crept into our lives in unexpected ways, creating challenges for every brand on this earth. How are you preparing for these transformations? How will it affect the way you plan for merchandise and services, your messaging and your overall customer experience? The following is certainly not a complete list of considerations or predictions but it clearly lists how marketers must remain flexible and engage in re-imagining a new business model. Every brand must take a hard look at what they offer, pivot quickly to meet the new reality and meet consumers where they are.
Harvard professor Thales Teixeira explains why customer behavior, not technology, ultimately drives disruption.
The emergence of a new technology is often cited as what drives the disruption of an industry or business. But that’s not true in most cases, according to Harvard Business School professor Thales Teixeira. Instead, startups disrupt established companies by decoupling the customer value chain — picking one aspect of the business and doing it better than the incumbent.
His findings, based on eight years of researching startups, tech companies and incumbents, are explained in his new book, Unlocking the Customer Value Chain: How Decoupling Drives Consumer Disruption. Teixeira joined the Knowledge@Wharton show on SiriusXM to talk about his book. (Listen to the podcast at the top of this page.)
An edited transcript of the conversation is available at: https://knowledge.wharton.upenn.edu/article/what-drives-disruption/