Jeff Fromm: Why Do Successful Capitalist Brands Fail at Innovation?
Why the action, desire, interest, awareness model needs to be replaced to reflect our modern marketing world
We frequently read about companies that are failing fast as a result of trying to create the most innovative brand campaigns. It is almost as if company leaders are seeking to fail for the sake of being disruptive. Personally, I don’t seek to fail but I understand it can be part of a healthy innovation process that enables success.
Since we live in a Millennial-inspired participation economy, old schemas are often less predictive of future success. As a result, those (successfully) disruptive brands are becoming the most loved and the most sought after among millennials.