Most likely, your company’s market offers are at various stages of their lives. How, When and Where you innovate can depend on the “maturity” of your offers. Let’s look at 3 types of offer maturity and their respective goals:

• Early/Growth: market acceptance of the offer and increased (created?) market and share (e.g., E-bay once, Google, Disposable Diapers)
• Mature: gain and retain profitable customers, follow-on sales and partnerships (e.g., Tylenol, Boeing 7x7, Avon)
• Waning: maximize current resources and get as much cash as you can to reinvest.

Almost everyone thinks of innovation in terms of technology – new features, bells, whistles, gadgets etc., but, the way you go to market, the way you make money from the offers, the business model – these are areas ripe for innovation, and often neglected.

For those that recognize the power of innovation in new business models, the results are powerful, potentially shaking up the entire industry….as Southwest Airlines did a few years ago (and apparently hasn’t done since!)