Source | Marketing Buzzar
You often fail to perceive the paradigm you live in. Here’s a children’s fable that brings alive the point well:
There was a pond, which was home to a lot of pond creatures.
The frogs in the pond would often venture out and come back with amazing stories of the fantastic world outside water.
The fish would be enamored by these stories of birds, animals and trees and everything outside water.
This went on for very long till one day a young fish asked, “this place you go to seems amazing, but what do you mean when you say ‘outside water’? What’s water?”
Now how do frogs tell fish what water is? If anyone must know water, it’s the fish, after all it is born in water and lives in water. Right?
Wrong. The frogs now realise that to truly know water, one must know water AND also must know no-water.
It’s almost impossible to know a paradigm in its entirety from within it. Incumbents can’t often see what outsiders can.
Sony missed mp3
Biggest beverage brands missed energy drinks
Kodak missed digital
Hotels didn’t foresee AirBnB
Taxi businesses were blind to Uber
Banks missed three biggest disruptions in banking – Mutual Funds, Micro Credit & Cryptocurrency
If you’re fish, what’s your water?
Market norms are stormed either by irreverent new entrants or by gutsy incumbents who have seen an opportunity they can’t unsee. These storms tend to leave markets far more vibrant than they find them. What does it take to storm a norm by design, and at will?
The 20 brands featured in the book Storm the Norm belong to diverse industries that have their own unique challenges. Yet, they demonstrate an interesting ability that’s common to all of them — the ability to shake up and transform stale, stagnant markets into fresh, vibrant ones.
This unique collection of stories proves beyond any doubt that market storms aren’t purely accidental. There is a method to the magic, and they can be made to happen by design.
The Method to the Stormer’s Magic
It all begins with staleness. A market that has stagnated is ripe for a storm. These markets don’t necessarily have a felt need; just simmering, often indiscernible, tension of discontent below the surface.