Innovation in a Recession

By November 2, 2009 Branding, General, Market Strategy

Eric Ryan and Adam Lowry, 27-year-old entrepreneurs, have built the world’s largest eco-friendly cleaning brand, Method (sold at Target). In February 2001, they mixed their first four cleaning sprays and had the managers of 20 independent groceries itching to try them. Once they researched the market opportunity and got these stores to agree to try them, they pooled their money and built Method.

Reader’s Digest interviewed this entrepreneurial pair asking how they pulled off the launch of their new products in the middle of a recession (2001). Their answer? The recession forced them to sharpen their differentiators and make their product USP easy to grasp. To someone starting a business, Eric and Adam suggest understanding how your product or service brings value to consumers with extreme clarity.

Be clear and concise about your unique selling proposition.

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